Well occupied established industrial estate providing 28,434 sq ft accommodation
Entirely let until September 2110 (no breaks) with 15% geared rent reviews quarterly
Prominent roadside location less than 2 miles from the M4 (Junction 16)
Located adjacent to Sainsbury’s Superstore and opposite a Honda and Mini Showroom
For the Seller's Legal Pack, please click the Property Documents tab below
For a Buyer's Legal Report please click <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
Lot 53
Auction 11th February 2016
Rent
Status Sold
Price £640,000
Sector Industrial/Warehouse
Auction Venue Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On behalf of Joint LPA Receivers
Property Information
Location
Miles
32 miles south-west of Oxford, 34 miles north-east of Bath, 44 miles north-west of Reading
Roads
B4006 (Great Western Way), A3102, M4 (Junction 16)
Rail
Swindon
Air
Bristol International Airport
Situation
The property is situated 2 miles west of Swindon town centre just off the Great Western Way dual carriageway on Ashburton Road and within close proximity to Junction 16 of the M4 Motorway. The estate is adjacent to a large Sainsbury’s Superstore and petrol station and opposite a Honda and Mini Car Dealership.
Tenure
Freehold.
Location
Miles
32 miles south-west of Oxford, 34 miles north-east of Bath, 44 miles north-west of Reading
Roads
B4006 (Great Western Way), A3102, M4 (Junction 16)
Rail
Swindon
Air
Bristol International Airport
Situation
The property is situated 2 miles west of Swindon town centre just off the Great Western Way dual carriageway on Ashburton Road and within close proximity to Junction 16 of the M4 Motorway. The estate is adjacent to a large Sainsbury’s Superstore and petrol station and opposite a Honda and Mini Car Dealership.
Tenure
Freehold.
Description
The Orbit Centre comprises a self-contained industrial estate around a busy courtyard which have been divided to provide 14 units. The units offer varied space over ground, first and mezzanine level accommodation. The property benefits from on-site parking for over 60 cars and has a total approximate site area of 0.189 acres (0.077 hectares).
Six Week Completion
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The Orbit Centre comprises a self-contained industrial estate around a busy courtyard which have been divided to provide 14 units. The units offer varied space over ground, first and mezzanine level accommodation. The property benefits from on-site parking for over 60 cars and has a total approximate site area of 0.189 acres (0.077 hectares).
Six Week Completion
Note
This property is being marketed for sale on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Joint Law of Property Act Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Law of Property Act Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Unit
Floor
Use
GIA Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review
1-20
Ground, First & Mezzanine
Warehouse/ Office/Retail
2,641.40 sq m
(28,434 sq ft)
FISH BROTHERS PROPERTY INVESTMENT LLP (1) (2)
125 years from 29/09/1985 until 28/09/2110 on a full repairing and insuring lease
£28,200.64
Quarterly (3)
Totals
2,641.40 sq m
(28,434 sq ft)
£28,200.64 (4)
(1) For the year ending 31st March 2015, Fish Brothers Property Investment LLP reported a total net worth of £2,807,132 (Experian Group 18/01/2016) (2) The tenant has sublet units to various subtenants. Further details, including a floor area breakdown per unit, can be found within the legal pack. (3) The rent reviews are each quarter day (being 25th March, 24th June, 29th September and 25th December) and are geared to 15% of the net rent received (see the lease in the legal pack for full details). (4) The rent stated is the average of the annualised June 2015 quarter rent (£29,693.52) and the annualised September 2015 quarter rent (£26,707,76).