Industrial Investment - Unit 4 Rexel Court

Overview

Reference: 6374.a
Price: £ 125,000
Term: For Sale
Type: Investment
Contract: For Sale
Location: Poole
Area: 600ft2
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Industrial/Warehouse Investment For Sale in Poole – 600 sq ft

Location

The property forms part of a small modern development of industrial/warehouse units fronting Franks Way which is approached from Ringwood Road (B3068) via Albion Close which is the main access road for Newtown Business Park. The Ringwood Road (A348/B3068) is a main route providing a link to Poole town centre and also via the A31 to the national motorway network.

Description

The property is currently arranged with a mezzanine floor over the whole ground floor area. The building is constructed of brick/block lower elevations with cladding above and a steel portal frame supporting a pitched roof. Features include:-

 Separate personnel door
 WC facility
 Sectional up and over loading door
 Concrete ground floor
 The previous occupier installed a mezzanine floor which provides an open plan area. We have no confirmation that this floor has any necessary relevant statutory consents.
 1 car parking space

Accommodation

Ground floor – factory/warehouse, wc 600 sq ft 55.7 sq m
Mezzanine 511 sq ft 47.5 sq m
Total Area

Measured on a gross internal basis 1111 sq ft 103.2 sq m

Tenancy

The property is let to Bamboo Landscapes Ltd on a 6 year lease from 17th March 2017 expiring 16 March 2023.

The lease contains provisions for a rent review on 17th March 2020. There is a tenant only break clause at the end of the 3rd year subject to 6 months notice.

The current passing rent is:

Years 1 and 2 £8,000 per annum exclusive,
Year 3 £8,350 per annum exclusive.

The lease is contracted outside the security of tenure provisions of the Landlord and Tenant Act 1954.

There is a rent deposit of £2,000 plus VAT ie £2,400 held by the landlord.

Tenure

We have been informed by our client that the premises are held on a freehold basis.

Price

£125,000 plus VAT subject to the existing occupational lease.

VAT

We have been informed by our client that the premises are currently elected for VAT. We anticipate the sale being dealt with by way of a transfer as a going concern (TOGC).

Rates

The District Valuer’s website provides the following information:-

Rateable Value – £9,300 (April 2017)

Source: www.voa.gov.uk

 


Property Misdescription Act and Misrepresentation Act: These particulars are a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract. Nettleship Sawyer cannot guarantee the accuracy of any description, dimension, references to condition, necessary permissions for use and occupation and other details contained herein and the prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy. No employee of Nettleship Sawyer has any authority to make or give any representations or warranty or enter into any contract whatever in relation to the property. Rents or prices quoted in these particulars may in addition be subject to VAT. Nettleship Sawyer will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars.