Strategically Located Freehold Open Storage Depot Investment
Let to CPL Distribution Limited until June 2022 (subject to option)
Low passing rent
Tenant in occupation since 1995
Well located in established industrial area off the M1
Approximate site area of 1.2 acres
Future redevelopment potential (subject to consents)
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 62
Auction 13th October 2016
Rent £27,000 per Annum Exclusive
Status Sold
Price £425,000
Sector Industrial/Warehouse
Auction Venue The Radisson Blu Portman Hotel 22 Portman Squafre London W1H 7BG
Property Information
Location
Miles
4 miles south-west of Northampton, 36 miles north-west of Luton, 50 miles south-east of Birmingham
Roads
M1 (Junction 15a), A43
Air
Birmingham International Airport & Luton International Airport
Situation
The property is strategically located off the M1, 4 miles from Northampton town centre in an established industrial/distribution area. Northampton's M1 Roadside Services are situated close by
as is the Swan Valley Industrial Estate with occupiers including Morrisons, Pets at Home, Royal Mail, Carlsberg, BMW Group and Poundland.
Tenure
Freehold.
Location
Miles
4 miles south-west of Northampton, 36 miles north-west of Luton, 50 miles south-east of Birmingham
Roads
M1 (Junction 15a), A43
Air
Birmingham International Airport & Luton International Airport
Situation
The property is strategically located off the M1, 4 miles from Northampton town centre in an established industrial/distribution area. Northampton's M1 Roadside Services are situated close by
as is the Swan Valley Industrial Estate with occupiers including Morrisons, Pets at Home, Royal Mail, Carlsberg, BMW Group and Poundland.
Tenure
Freehold.
Description
The site comprises a well secured, open storage depot on the west side of Banbury Lane and comprises a large surfaced yard, weighbridge, two single storey buildings of brick construction,
portable cabin offices and on-site WCs. The total site extends to approximately 1.2 acres (0.49 hectares).
VAT
VAT is 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 site comprises a well secured, open storage depot on the west side of Banbury Lane and comprises a large surfaced yard, weighbridge, two single storey buildings of brick construction,
portable cabin offices and on-site WCs. The total site extends to approximately 1.2 acres (0.49 hectares).
VAT
VAT is 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
Site Area
Site Area
Tenant
Term
Rent p.a.x
Review
Storage Depot (D8)
1.2 acres
(0.485 hectares)
CPL DISTRIBUTION LIMITED (1)
Approx.6 years & 1 month from 26/05/2016 (2)
£27,000
05/10/2019 (30/06/2022)
Total
1.2 acres
(0.485 hectares)
£27,000
(1) CPL is the UK's largest coal and solid fuel supplier with over 25 depots in England and Wales offering an industry leading range of solid fuels including; logs, smokeless coal, and eco-fuels (Source: www.cplindustries.co.uk). For the year ending 31st March 2015, CPL Distribution Limited reported a turnover of £65,372,000, pre-tax profits of £1,240,000 and a total net worth of £37,860,000 (Source: Experian Group 15/09/2016). (2) The lease provides for a tenant option to determine on 30th June 2020, subject to six months prior notice.
