Entirely let to Chesterwood Trading Limited (with personal guarantors) until 2023 (subject to option)
Rent rising to £74,738 p.a.x in 2016 (3)
Situated on established industrial and trading estate
Approximately 6,943.33 sq m (74,738 sq ft)
Approximate site area of 1.25 hectares (3.06 acres), with a site coverage of 56%
Lot 50
Auction 22nd May 2014
Rent £56,053 per Annum Exclusive
Status Withdrawn Post
Price
Sector Industrial, Warehouse
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
On behalf of a PLC
Property Information
Location
Miles
8 miles north east of Sheffield
33 miles south of Leeds
Roads
A630, A633, A6123, M1 (Junction 33, 34)
Rail
Rotherham Central Railway Station
Air
Robin Hood Doncaster/Sheffield Airport, Leeds Bradford International Airport
Situation
The property is located on the busy A630 the main arterial route to the north east of Rotherham linking the A1 (M) and the town centre. The property is prominently situated on the north side of Chesterton Road on the established Eastwood Industrial Estate some 1 ½ miles north east of Rotherham town centre.
Tenure
Freehold.
Location
Miles
8 miles north east of Sheffield
33 miles south of Leeds
Roads
A630, A633, A6123, M1 (Junction 33, 34)
Rail
Rotherham Central Railway Station
Air
Robin Hood Doncaster/Sheffield Airport, Leeds Bradford International Airport
Situation
The property is located on the busy A630 the main arterial route to the north east of Rotherham linking the A1 (M) and the town centre. The property is prominently situated on the north side of Chesterton Road on the established Eastwood Industrial Estate some 1 ½ miles north east of Rotherham town centre.
Tenure
Freehold.
Description
The property comprises a substantial industrial building housing sports facilities including four indoor 3G grass pitches. The property has an approximate eaves height of 4.95m (16 ft) and benefits from a secure site area of approximately 1.25 hectares (3.06 acres) with a site coverage of 56%, providing car parking for approximately 30 cars.
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 a substantial industrial building housing sports facilities including four indoor 3G grass pitches. The property has an approximate eaves height of 4.95m (16 ft) and benefits from a secure site area of approximately 1.25 hectares (3.06 acres) with a site coverage of 56%, providing car parking for approximately 30 cars.
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
Ground and First
Warehouse and Leisure
6,943.33 sq m
(74,738 sq ft)
CHESTERWOOD TRADING LIMITED t/a Rotherham Football Centre (1)
10 years from 25/10/2013 until 2023 on a full repairing and insuring lease (2)
£56,053.50
25/10/2018 (3) (4)
Totals
6,943.33 sq m
(74,738 sq ft)
£56,053.50
(1) The Rotherham Football Centre is set up as a not for profit organisation aimed at providing indoor sports facilities all year round for the community and schools. (Source: www.sheffieldjuniorfootball.co.uk/rotherham-football-centre) (2) The lease provides for a tenant option to determine on 25th October 2018 on providing 1 years prior written notice and the lease is subject to a schedule of condition. (3)The current rent reserved under the terms of the lease is £56,053.50 per annum exclusive. The lease provides for the following fixed increases in rent: Year 2 to £59,790.40 pax; Year 3 to £65,022 pax and year 4 to £74,738. The lease provides for the following rent concessions in favour of the tenant: 6 months half rent from 25/04/2014 to 24/10/2014; 6 months rent free from 25/10/2014 to 24/04/2015; 3 months rent free from 25/10/2015 to 24/01/2016; 6 months rent free from 25/10/2018 to 24/04/2019 if the tenant does not exercise their option to determine the lease on 25/10/2018. The tenant is also benefiting from paying a rent concession of £14,013.38 pax from 25/04/2014 to 25/10/2014 as a result of the tenant carrying out works to a flat roof at the property. The seller will pay the buyer the rent that would have been due to the seller in the absence of the rent free periods from 25/10/2014 to 24/04/2015 and 25/10/2015 to 24/01/2016 and in the absence of the rent concession in lieu of the tenant’s work to the flat roof, on completion of the sale. (4)The lease provides for an open market rent review on 25/10/2018.
