The subject property comprises three buildings which are interlinked. To the front of the site is a 3 storey office building, with parking to the very front. Behind this is the main industrial unit, which has the benefit of mezzanine floors providing additional office space. The rear part of the factory is on a lower level. To the very rear of the site is a warehouse with 6 metre eaves height. There is heating and lighting to both the industrial/warehouse space. There is also a small yard to the rear of the site, from which there is access to the units via loading doors. In addition there is a side loading door serving the main warehouse.
Rates £1.90 psf (guide).
The premises are held on a ground lease for a term of 99 years from 1st March 1967, to expire in 2066 at a current passing rent of £44,500 per annum exclusive, subject to rent review in March 2033. The premises are to be used for light industrial purposes. Our client is seeking a premium of £975,000 plus VAT or A new lease for a term by arrangement at a rent of £175,000 per annum exclusive (reflecting £5.43 psf).
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