Travis Perkins Gilwilly Industrial Estate Penrith Cumbria CA11 9BL

Travis Perkins
Gilwilly Industrial Estate
Penrith
Cumbria
CA11 9BL

Well Located Trade Counter Investment

Let to Travis Perkins (Properties) Ltd until November 2031 (No Breaks)
Dec 2026 upward only rent review to a minimum of 3% per annum compounded
Rent rising to a minimum of £115,927.41 in 2026
Tenant option to renew for 25 years (2)
Gross Internal Floor Area of 2,557.10 sq m (27,525 sq ft)
Approx. site area of 0.77 Ha (1.90 Acres)
Established Trade Counter/Industrial Estate Location
Future option to purchase Freehold for £1 (see legal pack)

Lot
31
Auction
25th September 2024
Rent
£100,000 per Annum Exclusive
Status
Available
Guide*
£1,350,000 - £1,400,000
Sector
Trade Counter
Auction Venue
Live Streamed Auction
On Behalf of a Major Investment Manager

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Well Located Trade Counter Investment

Let to Travis Perkins (Properties) Ltd until November 2031 (No Breaks)
Dec 2026 upward only rent review to a minimum of 3% per annum compounded
Rent rising to a minimum of £115,927.41 in 2026
Tenant option to renew for 25 years (2)
Gross Internal Floor Area of 2,557.10 sq m (27,525 sq ft)
Approx. site area of 0.77 Ha (1.90 Acres)
Established Trade Counter/Industrial Estate Location
Future option to purchase Freehold for £1 (see legal pack)

Lot 31
Auction 25th September 2024
Rent £100,000 per Annum Exclusive
Status Available
Guide* £1,350,000 - £1,400,000
Sector
Trade Counter
Auction Venue
Live Streamed Auction
On Behalf of a Major Investment Manager

Property Information

Location

Miles: 16 miles south of Carlisle, 42 miles north of Lancaster
Roads: A66, M6 (J40)
Rail: Penrith Railway Station
Air: Newcastle Airport

Situation

The property is well located on the northern side of Gilwilly Road, situated within the well established Gilwilly Industrial Estate, benefitting from immediate access to the M6 (J40) via the A592. Nearby occupiers include Screwfix, Toolstation, Booths, Morrisons and a number of trade suppliers, distribution providers and vehicle repair shops.

Tenure

Long Leasehold. Held for a term of 200 years from 01/12/2006 at a peppercorn ground rent. The lease provides an option to purchase the Freehold for £1 + VAT, subject to conditions being satisfied. Please refer to the legal pack for further information.

Location

Miles: 16 miles south of Carlisle, 42 miles north of Lancaster
Roads: A66, M6 (J40)
Rail: Penrith Railway Station
Air: Newcastle Airport

Situation

Tenure

Description

The property comprises a site of 0.77 Ha (1.90 Acres) upon which sit three separate trade counter / warehouse buildings and yard areas. The buildings have a total gross internal floor area of approximately 2,557.10 sq m (27,525 sq ft), and the property benefits from a low site coverage of approximately 30%.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Approx Gross Internal Floor Area sq m	Approx Gross Internal Floor Area sq ft	Tenant	Term	Rent p.a.x.	Rent Review
Warehouse 1 Warehouse 2 Warehouse 3	Ground Mezzanine First Ground Mezzanine Ground	Trade Counter/Warehouse Ancillary Office Trade Counter/Warehouse Ancillary Trade Counter/Warehouse	1,586.40 81.10 47.80 182.10 90.80 568.90	(17,076) (873) (515) (1,960) (977) (6,124)	TRAVIS PERKINS (PROPERTIES) LTD (CRN:00468024) (1)	25 years from 01/12/2006 until 30/11/2031 on a full repairing and insuring lease (subject to a schedule of condition) (2)	£100,000	01/12/2026 (3)
Total			2,557.10	(27,525)			£100,000

(1) Travis Perkins (Properties) Ltd is wholly owned by Travis Perkins PLC. Travis Perkins is the UK's largest distributor of building materials with a network of over 500 branches and has been helping build Britain for over 200 years (www.travisperkinsplc.co.uk).
(2) The lease provides the tenant an option to renew the lease on expiry for a further 25 years at market rent, but otherwise on identical lease terms including the rent review basis. Full information is available within the legal pack.
(3) The rent reviews are upwards only to the higher of two thirds of Market Rent (as defined in the lease) or the annual rent payable increased by 3% per annum compounded annually. For further information please refer to the lease available in the legal pack.

If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.