Let to SPS Aerostructures Limited on a renewed 10 year lease until 2026 (subject to option)
Established Industrial Estate
Approximately 0.35 ha (0.87 acres) with a site coverage of approximately 51%
Approximately 2 miles south of the M6 (Junction 1) and 1.5 miles north of Rugby
Close to The Junction One and Elliott’s Field Retail Parks with occupiers including Laura Ashley Home, Tesco Superstore, Halfords
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 42
Auction 13th October 2016
Rent £110,125 per Annum Exclusive
Status Sold
Price £1,300,000
Sector Industrial/Warehouse
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
33 miles east of Birmingham, 19 miles south of Leicester, 23 miles north-west of Northampton
Roads
A5, A426, M1, M6 (Junction 1)
Rail
Rugby Railway Station
Air
Birmingham Airport, Coventry Airport
Situation
Glebe Farm Industrial Estate is an established business park some 1.5 miles north of Rugy town centre and some 2 miles south of the M6 (Junction 1). The property is situated on the west side of Chariot Way at its junction with Glebe Farm Road. The Junction One and Elliott's Field Retail Parks are close by with occupiers including Laura Ashley Home, Tesco Superstore, Halfords and M&S.
Tenure
Freehold.
Location
Miles
33 miles east of Birmingham, 19 miles south of Leicester, 23 miles north-west of Northampton
Roads
A5, A426, M1, M6 (Junction 1)
Rail
Rugby Railway Station
Air
Birmingham Airport, Coventry Airport
Situation
Glebe Farm Industrial Estate is an established business park some 1.5 miles north of Rugy town centre and some 2 miles south of the M6 (Junction 1). The property is situated on the west side of Chariot Way at its junction with Glebe Farm Road. The Junction One and Elliott's Field Retail Parks are close by with occupiers including Laura Ashley Home, Tesco Superstore, Halfords and M&S.
Tenure
Freehold.
Description
The property comprises a substantial industrial building which benefits from an eves height of approximately 5m/ 16ft and a single vehicle access loading door. The property further benefits from first floor integrated offices at the front of the property, a site area of approximately 0.35 ha (0.87 acres) with a site coverage of approximately 51% and car parking for approximately 43 cars.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a substantial industrial building which benefits from an eves height of approximately 5m/ 16ft and a single vehicle access loading door. The property further benefits from first floor integrated offices at the front of the property, a site area of approximately 0.35 ha (0.87 acres) with a site coverage of approximately 51% and car parking for approximately 43 cars.
VAT
VAT is not applicable to this lot.
Completion Period
Six Week Completion
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
Office/Warehouse Office/Ancillary
1,787 sq m 590.40 sq m
(19,240 sq ft) (6,355 sq ft)
SPS AEROSTRUCTURES LIMITED (1)
10 years from 11/03/2016 on a full repairing and insuring lease (2)
£110,125
11/03/2021 (10/03/2026)
Total
2,377.80 sq m
(25,595 sq ft)
£110,125
(1) SPS Aerostructures is an engineering business in the production of precision-machined fabrications and assemblies for civil and military aircraft and rotorcraft (Source: www.pccaero.com). For the year ending 31st March 2015, SPS Aerostructures Limited reported a turnover of £87,995,000, pre-tax profits of £15,527,000 and a total net worth of £61,862,000. (Source: www.riskdisk.com 14/09/2016). (2) The lease provides for a tenant option to determine the lease on 10/03/2021 subject to an 18 month rent penalty.
