Tenancy & Accommodation
Unit No. |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Review/ (Reversion) |
Unit 1 |
Industrial/Office |
2,272.01 sq m |
(24,456 sq ft) |
LAREINE ENGINEERING LIMITED (1) |
10 year lease from 28/03/2016 until 27/03/2026 (2) (3) |
£100,000 (4) |
28/03/2021 |
Unit 2 |
Industrial/Office |
1,542.17 sq m |
(16,601 sq ft) |
CANON (UK) LIMITED (5) |
10 years from 01/09/2011 until 31/08/2021 |
£66,000 |
01/09/2016 |
Unit 3 |
Industrial/Office |
1,542.92 sq m |
(16,608 sq ft) |
HERTZ (UK) LIMITED (6) |
20 years from 21/06/2005 until 20/06/2025 (7) (2) |
£72,000 |
21/06/2020 |
Unit 4 |
Industrial/Office |
1,548.31 sq m |
(16,666 sq ft) |
LANGSTANE PRESS LIMITED (8) |
5 year lease from 01/10/2013 |
£66,000 |
(30/09/2018) |
Total |
|
6,905.52 sq m |
(74,331 sq ft) |
|
|
£304,000 |
(1) For the year ending 31st December 2014, Lareine Engineering Limited reported a total net worth of £1,030,350. (Source: Experian Group 21/04/2016).
(2) The lease is subject to a schedule of condition.
(3) As to Unit 1, there is a tenant break option (personal to Lareine Engineering Ltd) on 28th March 2021, subject to 9 months’ notice.
(4) For the purpose of clarification, the current rental income is £60,000 p.a.x., increasing to £80,000 p.a.x. from 28th March 2017 and to £100,000 p.a.x from 28th March 2020. The seller has agreed to adjust the completion monies so that the unit effectively produces £100,000 p.a.x. from completion of the sale.
(5) Canon (UK) Ltd is the UK marketing and sales operation for the global company Canon Inc. In the UK and Ireland Canon currently employs around 2,050 people
throughout the UK. (Source: www.canon.co.uk 22/04/2016)
(6) For the year ending 31st December 2014, Hertz (UK) Limited reported a turnover of £169,651,000, pre-tax profits of £65,736,000 and a total net worth of
£12,711,000 (Source: Experian Group 21/04/2016).
(7) As to Unit 3, there is a mutual break option on 21st June 2020, subject to 12 months’ notice
(8) For the year ending 30th April 2015, Langstane Press Limited reported a turnover of £22,543,000, pre-tax profits of £496,000 and a total net worth of £5,963,000 (Source: Experian Group 21/04/2016).