Entirely let to Wolseley UK Ltd until 2022 with an option to renew for a further 15 years
Five yearly fixed rental uplifts
Nearby occupiers include Plumbase, Pipe Center and Hewden Plant Hire
Established industrial/trade counter location
On-site service yard accommodating parking for approximately 15 cars
Total site area of 0.17 hectares (0.43 acres)
SPV available (Stamp Duty Saving) by separate negotiation
Rent rising to £46,332 per annum exclusive in 2017 (3)
Lot 8
Auction 21st October 2010
Rent £41,955 per Annum Exclusive
Status Withdrawn Post
Price
Sector Retail Warehouse
Auction Venue Millennium Hotel 39-44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Miles
1 mile north-east of the town centre, 12 miles south-west of Derby, 27 miles south-west of Nottingham, 34 miles north-east of Birmingham
Roads
A38, A511, M42 (Junction 11), M1 (Junction 24)
Rail
Burton-upon-Trent Railway Station (2 hours to London Euston)
Air
East Midlands Airport
Situation
The property is situated on the west side of Hawkins Lane in an established industrial and trade counter location close to the town centre and less than 500 metres from the A511, which leads directly to the M1 motorway (Junction 22). Nearby occupiers include Plumbase, Pipe Center and Hewden Plant Hire.
Tenure
Virtual Freehold. Held from Wolseley UK Ltd for a term of 999 years from 18th January 2007 at a peppercorn rent with an option to purchase the freehold interest for £1 after 18th January 2033.
Location
Miles
1 mile north-east of the town centre, 12 miles south-west of Derby, 27 miles south-west of Nottingham, 34 miles north-east of Birmingham
Roads
A38, A511, M42 (Junction 11), M1 (Junction 24)
Rail
Burton-upon-Trent Railway Station (2 hours to London Euston)
Air
East Midlands Airport
Situation
The property is situated on the west side of Hawkins Lane in an established industrial and trade counter location close to the town centre and less than 500 metres from the A511, which leads directly to the M1 motorway (Junction 22). Nearby occupiers include Plumbase, Pipe Center and Hewden Plant Hire.
Tenure
Virtual Freehold. Held from Wolseley UK Ltd for a term of 999 years from 18th January 2007 at a peppercorn rent with an option to purchase the freehold interest for £1 after 18th January 2033.
Description
The property comprises a DETACHED INDUSTRIAL UNIT divided to provide WAREHOUSE, TRADE COUNTER and SHOWROOM ACCOMMODATION. The property benefits from a large service yard accommodating approximately 15 car parking spaces and a total approximate site area of 0.17 hectares (0.43 acres.)
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 DETACHED INDUSTRIAL UNIT divided to provide WAREHOUSE, TRADE COUNTER and SHOWROOM ACCOMMODATION. The property benefits from a large service yard accommodating approximately 15 car parking spaces and a total approximate site area of 0.17 hectares (0.43 acres.)
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
Reviews
Ground
Warehouse (including Showroom, Trade Counter and Offices)
699.82 sq m
(7,533 sq ft)
WOLSELEY UK LTD (1)
15 years from 18/01/2007 to 17/01/2022 on a full repairing and insuring lease (2)
£41,955 (3)
16/01/2012 and 5 yearly thereafter (4)(5)
Totals
699.82 sq m
(7,533 sq ft)
£41,955
(1) Wolseley UK Ltd is a FTSE 100 company, the largest specialist trade distributor of plumbing and heating products to professional contractors and a leading supplier of building materials to the professional market. They operate from 4,400 branches in 25 countries worldwide and have 47,000 employees. (Source: www.wolseley.com 13/09/2010)(2) Please note that the lease is subject to a schedule of condition.(3) The current rent reserved is £38,000 p.a.x. Under the terms of the lease there will be a fixed rental increase to £41,995 p.a.x. on 16th January 2012. The vendor will pay the buyer the difference between the current rent reserved of £38,000 p.a.x. and £41,995 p.a.x. from completion of sale until this date. As a result, the property will produce an income of £41,995 p.a.x. from completion.(4) Under the terms of the lease there will be fixed rental increases equivalent to 2% per annum compound every five years. The fixed rental increases are as follows: 16th January 2012 – £41,995 p.a.x. and 16th January 2017 – £46,322 p.a.x.(5) Please note, the tenant will have an option to request a new 15 year lease at open market rental value. The option is subject to a minimum of 12 months' notice.
