Light Industrial for sale

Kentisbeare, Cullompton EX15


OIRO
£1,275,000
27,175 ft²

Description

Accommodation

Brief details of the accommodation, with approximate maximum internal dimensions are as follows: -

Approached from the main access road into the Village, the estate is located on the left-hand side after the Welcome to Kentisbeare sign.

Unit No 5 17.73m x 8.82m (58'2 x 28'11) max
Concrete floor. Translucent roof panels. Divided into 4 workshops with Office and Trade Counter.

Unit No 6 9.07m x 8.80m (29'9 x 28'10) max
Concrete floor. Power and light as fitted. Small mezzanine storage platform. Constructed within are 2 Offices with Toilet.

Unit No 6A 18.23m X 9.05m (59'10 x 29'8) max
Concrete floor. Strip lighting and power as fitted. Constructed within is a dog hydrotherapy pool with exercise and washing facilities. Office and reception area.

Unit No 7 9.18 x 9.02m (30'1 x 29'7) max
Workshop area with Office / Staff room to one side with second office leading off.

Unit No 8 9.03m x 5.99m (29'8 x 19'8) max
Concrete floor with strip lighting and power as fitted. Small mezzanine storage area. Office in the front corner. Double access doors with parking to the front.

Unit 9 9.0m x 6.0m (29'6 x 19'8) max
Concrete floor. Strip lighting and power as fitted. Double entrance doors. Mezzanine storage platform.

Unit 10 8.89m x 6.03m (29'2 x 19'9) max
Arranged as a workshop / Storage area with large office leading off. Roller shutter door.

Unit 11 27.4m x 13.57m (89'10 x 44'6) max
Roller shutter door. Concrete floor. Strip lighting and power as fitted. Toilet plus Office / Staff room.

Unit 12 27.33m x 13.55m (89'8 x 44'5) max
Roller shutter door. Concrete floor. Strip lighting and power as fitted.

Unit 13 18.2m x 13.5m (59'9 x 44'3) max
Roller shutter door. Concrete floor. Spacious Office, store and toilet.

Unit 14 22.78m x 13.55m (74'9 x 44'5) max
Roller shutter door. Concrete floor. Toilet.

Unit 15 12.02m x 6.27m (39'5 x 20'7) max
Concrete floor with strip lighting and power as fitted. Toilet and small Office area. Double access doors.

The Barn 12.44m x 6.13m (40'10 x 20'1) max
Concrete floor. Roller shutter door. Power and lighting as fitted. Toilet with WC suite and wash hand basin.

First Floor Office 8.97m x 6.19m (29'5 x 20'3) max
Open plan office with open views. Kitchen area.
Caretakers Office 5.11m x 4.41m (16'9 x 14'5) max

Self Store Building 30.38m x 12.76m (99'8 x 41'10) max
Currently divided into 16 individually partitioned self store Units with further end store.

Landlords Store 12.05m x 6.30m (39'6 x 20'8) max
Concrete floor with translucent roof lights. Power and lights as fitted. Double access doors.

Storage Containers
6 Steel Storage Containers with parking area to the front. Space to add further containers if required.

Landlords Meter Room 4.44m x 2.97m (14'6 x 9'9) max
Currently holds all the meters for the site, each unit being individually metered. This also has the control panel for the solar panels. We understand that the Landlord retains the fit payments which for the last 2 years have averaged approximately £6,000 per annum.
Additional land

To the far end of the site is an area of agricultural land totalling a further 2.45 Acres which is also within the ownership of the vendor. The vendor has confirmed they would be prepared to offer this additional land with the site for an additional consideration. There would be an uplift imposed on the field should the purchasers obtain residential or commercial planning consent on this area of land within 10 years from the purchase. Full details available on request.
Services

The property is currently served by a bore hole on the vendors retained land, but a mains connection is available, and this will be swapped over at the vendors cost within 6 months from completion of the sale.

We understand electricity is available to all units, including 3 phase to some units, with drainage via a private drainage system located within the boundaries of the site.
VAT

We understand that VAT is not payable on the purchase price.
Price and tenure

Offers are sought in excess of £1,275,000 for this substantial freehold Investment opportunity subject to and with the benefit of all tenancies as at completion, offering considerable scope to both further develop the site and increase the rents currently being achieved. The current rent roll is just over £107,000 to include the annual fit payments from the solar panels, offering an investor a gross return close to 8.5% before purchaser costs. In addition there are areas of the site that could be developed, or redeveloped, to offer additional units or further storage containers, subject to the usual consents.

A tenancy schedule is available on request, which shows many of the rents currently achieved are low in the current market, several of which haven't been reviewed for the duration of the current lease. Most of the leases have been excluded from the Landlord and Tenant Act, although some which are holding over could now fall within the act, purchasers are therefore advised to seek their own professional advice.
Rates

Each property is separately rated with each tenant being responsible for the rates of their respective unit.
Energy performance certificate

Energy Performance Certificates have been obtained for the units, copies are available from the agents on request. Most of these are C, D or E ratings.
Legal costs

Each party to be responsible for their own legal costs.
Viewing

Strictly by prior appointment only with the sole agent, for the attention of Tony Noon Ref (0660)

Categories

Light Industrial
Call
Property reference
RP03251_41