Entirely let to Rodenstock (UK) Limited on a lease renewal until 2022
Tenant in occupation since 1987
Approximately 2,711.00 sq m (29,182 sq ft)
Situated on an established industrial estate
Excellent access to the A2, M2, London and Channel ports
Rent £131,050 per annum exclusive (net)
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 45
Auction 19th May 2016
Rent £160,000 per Annum Exclusive
Status Sold
Price £1,220,000
Sector Industrial/Warehouse
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
7 miles east of Dartford, 2 miles west of Gravesend, 25 miles south-west of London
Roads
A2, A227, A2260, A282
Rail
Ebbsfleet International (18 mins to London St Pancras)
Air
London City Airport
Situation
The property is situated within the established Springfield Enterprise Park and is accessed just south of the Thames Way and Springhead Road roundabout leading directly to the A2. This provides direct links to the west and the Channel ports to the east via the M2 Motorway. Nearby occupiers include Sainsbury's, Newey & Eyre, DHL, Morrisons and Plumb Centre.
Tenure
Long Leasehold. Held for a term of 93 years from 3rd November 1992 at a current rent of £28,950 p.a.x. The current rent equates to a basic rent of £150 per annum and an additional rent payable representing 18% of the rental income.
Location
Miles
7 miles east of Dartford, 2 miles west of Gravesend, 25 miles south-west of London
Roads
A2, A227, A2260, A282
Rail
Ebbsfleet International (18 mins to London St Pancras)
Air
London City Airport
Situation
The property is situated within the established Springfield Enterprise Park and is accessed just south of the Thames Way and Springhead Road roundabout leading directly to the A2. This provides direct links to the west and the Channel ports to the east via the M2 Motorway. Nearby occupiers include Sainsbury's, Newey & Eyre, DHL, Morrisons and Plumb Centre.
Tenure
Long Leasehold. Held for a term of 93 years from 3rd November 1992 at a current rent of £28,950 p.a.x. The current rent equates to a basic rent of £150 per annum and an additional rent payable representing 18% of the rental income.
Description
The property comprises two adjoining industrial warehouses with ancillary office space, and benefits from two 3 metre high electronic roller shutter doors, an eaves height of 6 metres and parking for some 60 cars.
Six Week Completion (subject to landlord's consent to assign)
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 two adjoining industrial warehouses with ancillary office space, and benefits from two 3 metre high electronic roller shutter doors, an eaves height of 6 metres and parking for some 60 cars.
Six Week Completion (subject to landlord's consent to assign)
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
Review (Reversion)
Ground First
Warehouse/Office Office/Ancillary
2,254.40 sq m 456.60 sq m
(24,267 sq ft) (4,915 sq ft)
RODENSTOCK (UK) LIMITED (1)
10 years from 24/06/2012 on a full repairing and insuring lease (2)
£160,000
24/06/2017 (23/06/2022)
Total
2,711.00 sq m
(29,182 sq ft)
£160,000 (2)
(1) Rodenstock was founded in 1877 and is Germany’s leading manufacturer of ophthalmic lenses and frames. Rodenstock has a worldwide workforce of approximately 4,500 and is represented in more than 85 countries, with production sites for lenses in a total of 15 locations across 13 countries. (Source: www.rodenstock.com). For the year ending 31st December 2014, Rodenstock (UK) Limited reported a turnover of £11,307,905, pre-tax profits of £332,337 and a total net worth of 1,024,847. (Source: Experian Group 20/04/2016). (2) The lease is subject to an agreed Deed of Variation which is in solicitors’ hands due to complete imminently, to remove the 24th June 2017 tenant option to determine. The Deed of Variation provides for a rent free period from 24th June 2017 to 7th February 2018. The seller has agreed to adjust the completion monies to allow for this rent free period.
