Substantial Building Entirely Let to Tecforce Limited until October 2031 (subject to option)
Located in a well established industrial area
Rent rising to £102,000 pa in 2021 and £115,000 pa in 2026
Approximate site area of 0.58 hectares (1.45 acres)
For the Seller's Legal Pack, please click the Property Documents tab below
Lot 73
Auction 23rd March 2016
Rent £85,000 per Annum Exclusive
Status Sold
Price £725,000
Sector Industrial, Warehouse
Auction Venue The Millennium Hotel 44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
15 miles west of Nottingham, 36 miles south of Sheffield, 38 miles north-east of Birmingham
Roads
A514, A6, M1 (Junction 25)
Rail
Derby Rail
Air
East Midlands Airport
Situation
The property is located in an established industrial area on Litchurch Lane, off Osmaston Road (A514), which connects the City Centre with the outer ring road to the south. Derby is renowned as the world’s largest rail industry cluster, with nearby occupiers including the UK’s leading rail manufacturer, Bombardier.
Tenure
Freehold.
Location
Miles
15 miles west of Nottingham, 36 miles south of Sheffield, 38 miles north-east of Birmingham
Roads
A514, A6, M1 (Junction 25)
Rail
Derby Rail
Air
East Midlands Airport
Situation
The property is located in an established industrial area on Litchurch Lane, off Osmaston Road (A514), which connects the City Centre with the outer ring road to the south. Derby is renowned as the world’s largest rail industry cluster, with nearby occupiers including the UK’s leading rail manufacturer, Bombardier.
Tenure
Freehold.
Description
The property comprises a substantial detached industrial building providing office, warehouse and ancillary accommodation. The property benefits from a rear yard with car parking for approximately 50 cars and potential for rail access into the workshop. The property has a total approximate site area of 0.58 hectares (1.45 acres).
Six Week Completion
VAT
VAT is not 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 detached industrial building providing office, warehouse and ancillary accommodation. The property benefits from a rear yard with car parking for approximately 50 cars and potential for rail access into the workshop. The property has a total approximate site area of 0.58 hectares (1.45 acres).
Six Week Completion
VAT
VAT is not 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 First
Industrial/Ancillary Office/Ancillary
1,676.54 sq m 57.78 sq m
18,046 sq ft) (622 sq ft)
TECFORCE LIMITED (1)
20 years from 05/10/2011 until 04/10/2031 on a full repairing and insuring lease (2)
£85,000
05/10/2021 and 05/10/2026 (3)
Totals
1,734.32 sq m
(18,668 sq ft)
£85,000 Rising to £102,000 in 2021 (3)
(1) Tecforce, a part of the MCT Group, is a supplier of a comprehensive range of repair, overhaul, consultancy, testing and training services to the rail industry (Source: tecforce.co.uk 15/02/2016). For the year ending 02/05/2015, Tecforce Limited reported a total net worth of £1,164,000. (Source: Experian Group: 15/02/2016) (2) The lease provides an option to determine on 04/10/2021. The lease is subject to a schedule of condition. (3) The lease provides a fixed rental increase to £102,000 pa in October 2021 and £115,000 pa in October 2026
