Description

The property comprises a purpose built mid terraced industrial/warehouse unit with front yard/car park. The ground floor is open plan with a minimum eaves height of 6.23m and a full height roller shutter.  A structural front first floor section provides staff room/canteen accommodation and a more recent mezzanine addition provides storage space and an office. Cloakrooms are fitted to both ground and first floors. The same tenant occupies Unit 3 and is therefore interconnected; should they vacate either, it is the tenants responsibility to self-contain. 

Key Features

• Rare freehold industrial investment
• Reversionary rent
• Stable income

Accommodation

The gross internal floor area has been calculated, in accordance with the RICS Code of Measuring Practice, as follows:

Ground floor warehouse: 5,665 sq ft (526.29 sq m)
First floor: 598 sq ft (55.53 sq m)
Total: 6,263 sq ft (581.82 sq m)

Mezzanine: 830 sq ft (77.11 sq m)

External: Front yard/car park

Tenure

Freehold for sale, subject to existing tenancy.  A copy of the title deeds available upon request.

Lease

There is a full, repairing and insuring lease with Unibloc Hygienic Technologies UK Ltd in place.  The 12 year lease is due to expire on 17 October 2035, contracted within the security of tenure provisions of the Landlord & Tenant Act 1954, with 4 yearly market rent reviews and a tenant only break clause upon the anniversary of the 6th year of the term (18 October 2029), subject to 12 months prior written notice.    The passing rent is £50,000 per annum, which reflects a low passing rent of circa £8.00 per sq ft, applied to the ground and original first floor (6,263 sq ft).  The permitted use is for light industry, warehouse and ancillary offices within Class E and B8 of the Use Class Order 2020.

A copy of the existing lease available upon request.

Price

Offers in the region of £700,000, subject to contract only.

Services

Graves Jenkins has not checked and does not accept responsibility for any of the services within this property and would suggest that any in-going tenant or occupier satisfies themselves in this regard.

EPC

Rating E - 102

Business Rates

Rateable Value: £84,500
Rates Payable: £47,827 (2024/25)

The Rateable Value is combined with Unit 3.
Interested parties are advised to contact Wealden District Council Tel: 01323 443322 or www.wealden.gov.uk to verify this information.

VAT

VAT will not be payable.

Legal Fees

Each party to bear their own legal costs involved in the transaction.

AML

The proposed tenant will be required to satisfy all Anti Money Laundering requirements when Heads of Terms are agreed.

Viewing Arrangements

Strictly via prior appointment through sole Agents Graves Jenkins.