Let to Kwik-Fit Properties Ltd with guarantee from Kwik-Fit Holdings Ltd until 2029 (no breaks)
One of Kiwk-Fit’s five training academies in the UK
Comprises 1,298.27 sq m (13,975 sq ft)
Prominently located on busy arterial route
Nearby occupiers include Morrisons, Ford, Peugeot and National Tyres
Lot 46
Auction 23rd October 2014
Rent £140,216 per Annum Exclusive
Status Sold Post
Price
Sector Industrial/Warehouse
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
25 miles south of Oxford
42 miles west of Central London
Roads
A33, A327, M4 (Junction 11)
Rail
Reading Railway Station
Air
London Heathrow Airport
Situation
Reading is a popular university town situated in the affluent Thames Valley and benefits from excellent communication links, located immediately to north of the M4 providing access to the west of England and the M25 and London to the east. The property is prominently situated at the junction of Basingstoke Road and Long Barn Lane. Basingstoke Road is a busy arterial route between Reading town centre to the north and the A33 to the south. Nearby occupiers include Morrisons, Ford, Peugeot and National Tyres.
Brunel Retail Park and Reading Gate Retail Park are located a short distance away.
Tenure
Freehold.
Location
Miles
25 miles south of Oxford
42 miles west of Central London
Roads
A33, A327, M4 (Junction 11)
Rail
Reading Railway Station
Air
London Heathrow Airport
Situation
Reading is a popular university town situated in the affluent Thames Valley and benefits from excellent communication links, located immediately to north of the M4 providing access to the west of England and the M25 and London to the east. The property is prominently situated at the junction of Basingstoke Road and Long Barn Lane. Basingstoke Road is a busy arterial route between Reading town centre to the north and the A33 to the south. Nearby occupiers include Morrisons, Ford, Peugeot and National Tyres.
Brunel Retail Park and Reading Gate Retail Park are located a short distance away.
Tenure
Freehold.
Description
The property comprises a ground floor workshop (used to demonstrate and teach) with self-contained office accommodation on the first and second/attic floors, accessed from the side.
The property benefits from five bays that are not currently used, a forecourt and a rear yard (accessed via Canterbury Road), providing a total of approximately 30 car parking spaces.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor workshop (used to demonstrate and teach) with self-contained office accommodation on the first and second/attic floors, accessed from the side.
The property benefits from five bays that are not currently used, a forecourt and a rear yard (accessed via Canterbury Road), providing a total of approximately 30 car parking spaces.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Ground First Second/Attic
Workshop Offices Offices
548.85 sq m 508.72 sq m 240.70 sq m
(5,908 sq ft) (5,476 sq ft) (2,591 sq ft)
KWIK-FIT PROPERTIES LTD (1) guaranteed by Kwik-Fit Holdings Limited (2)
30 years from 24/02/1999 until 2029 on a full repairing and insuring lease
£140,216.15
24/02/2019 & 5 yearly
Totals
1,298.27 sq m
(13,975 sq ft)
£140,216.15
(1) For the year ending 31/03/2014, Kwik-Fit Properties Limited reported a turnover of £51,000, pre-tax profits of £146,000 and a total net worth of £2,020,000. (Source: www.riskdisk.com 16/09/2014) (2)For the year ending 31/03/2014, Kwik-Fit Holdings Limited reported pre-tax profits of £95,410,000 and a total net worth of £28,518,000. (Source: www.riskdisk.com 16/09/2014)
