Unit 2 Finepoint Way Kidderminster Worcestershire DY11 7FB

  • Unit 2 Finepoint Way<br>Kidderminster<br>Worcestershire<br>DY11 7FB

Unit 2 Finepoint Way
Kidderminster
Worcestershire
DY11 7FB

Freehold Modern Warehouse Distribution Investment

  • Let to Rentokil Property Holdings Limited guaranteed by Rentokil Initial (1896) Limited
  • Established industrial area
  • Nearby occupiers include Wyre Forest District Council, OGL Computer, Beakbane and Brintons
  • Approximate site area of 0.81 hectares (2.0 acres) with approximate low site coverage of 30%
  • Includes two storey integral air conditioned offices and on-site car parking
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot
    15
  • Auction
    21st May 2015
  • Rent
    £171,875 per Annum Exclusive
  • Status
    Sold
  • Price
    £1,590,000
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG
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Freehold Modern Warehouse Distribution Investment

  • Let to Rentokil Property Holdings Limited guaranteed by Rentokil Initial (1896) Limited
  • Established industrial area
  • Nearby occupiers include Wyre Forest District Council, OGL Computer, Beakbane and Brintons
  • Approximate site area of 0.81 hectares (2.0 acres) with approximate low site coverage of 30%
  • Includes two storey integral air conditioned offices and on-site car parking
  • Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>
  • Lot 15
  • Auction 21st May 2015
  • Rent £171,875 per Annum Exclusive
  • Status Sold
  • Price £1,590,000
  • Sector
    Industrial, Warehouse
  • Auction Venue
    Radisson Blu Portman Hotel
    22 Portman Square
    London W1H 7BG

Property Information

Location
Miles
17 miles south-west of Birmingham, 17 miles south of Wolverhampton, 15 miles north of Worcester
Roads
M5, M42, A448, A449, A451
Rail
Kidderminster Railway Station
Air
Birmingham International Airport
Situation

The property is situated approximately 2 miles south of Kidderminster town centre within an established industrial area which includes Gemini Business Park, Vale Industrial Estate and Coppice Industrial Estate, which includes occupiers such as Beakbane, OGL Computer and Brintons.

Tenure

Freehold.

Location
Miles
17 miles south-west of Birmingham, 17 miles south of Wolverhampton, 15 miles north of Worcester
Roads
M5, M42, A448, A449, A451
Rail
Kidderminster Railway Station
Air
Birmingham International Airport
Situation

The property is situated approximately 2 miles south of Kidderminster town centre within an established industrial area which includes Gemini Business Park, Vale Industrial Estate and Coppice Industrial Estate, which includes occupiers such as Beakbane, OGL Computer and Brintons.

Tenure

Freehold.

Description

The property comprises a modern detached warehouse building benefitting from integral office accommodation with suspended ceilings, recessed lighting, air conditioning and an 8-person lift. The warehouse benefits from an eaves height of approximately 8 metres (26 ft) and 5 vehicle access loading doors. The property benefits from car parking for approximately 48 cars.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

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 modern detached warehouse building benefitting from integral office accommodation with suspended ceilings, recessed lighting, air conditioning and an 8-person lift. The warehouse benefits from an eaves height of approximately 8 metres (26 ft) and 5 vehicle access loading doors. The property benefits from car parking for approximately 48 cars.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

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 Reversion
Ground
Ground
First 		Warehouse/Ancillary
Office
Office
2,076 sq m
249 sq m
240 sq m
(22,346 sq ft)
(2,680 sq ft)
(2,583 sq ft)
 RENTOKIL PROPERTY HOLDINGS LIMITED (1) (Guaranteed by Rentokil Initial (1896) Limited) (2) (4) 10 years from 30/05/2008 on a full repairing and insuring lease £171,875 (3) 29/05/2018
Totals  
2,565 sq m
(27,609 sq ft)
     £171,875 (3)

1) Rentokil Property Holdings Limited is a wholly owned subsidiary of Rentokil Initial plc, a FTSE 250 company who provide numerous services from pest control, linen services, to medical services, with an annual revenue in excess of £2 billion (source: www.rentokil-initial.com and www.riskdisk.com 21/04/2015)
(2) For the year ending 31st December 2013, Rentokil Initial (1896) Limited reported a pre-tax profit of -£109,591,000 and a total net worth of £1,684,625,000. (Source: www.riskdisk.com 21/04/2015)
(3) The current rent reserved is £158,125 per annum exclusive. The tenant pays an additional fit out rent of £13,750 per annum exclusive. Therefore the property produces a total of £171,875 per annum exclusive.
(4) The tenant is not currently in occupation of the property.

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Associate Auctioneers
Bidwells LLP 25 Old Burlington Street
London
W1S 3AN
Lucy Young 0207 297 6278lucy.young@bidwells.co.uk
Seller's Solicitors
Birketts LLP 24 - 26 Museum Street
Ipswich
Suffolk
IP1 1HZ
Victoria Butcher 01473 406 262victoria-butcher@birketts.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk
Property InsuranceBrown & BrownNatasha WardBroking Director+44 7545 208 759bbrown.com

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