Tenancy & Accommodation
| Unit |
Floor |
Use |
Floor Areas (Gross Approx)
|
Tenant |
Term |
Rent p.a.x |
Reviews |
Unit A
|
Ground
Mezzanine
|
Industrial
Industrial
|
423.5 sq m
69.9 sq m
|
(4,559 sq ft) (752 sq ft)
|
EMMAUS ST ALBANS t/a Emmaus Furniture
Re-Use (1)
|
15 years from
03/02/2015 until
02/02/2030 (2)
|
£35,000 (6)
|
03/02/2020
03/02/2025
|
Units
B & C
|
Ground
|
Industrial
|
845.41 sq m
|
(9,100 sq ft)
|
A PLUS JOINERY LTD t/a Hertswood (3)
|
5 years from 29/09/2015 until
28/09/2020
|
£57,330 (6)
|
|
Unit D
|
Ground
|
Industrial
|
422.70 sq m
|
(4,550 sq ft)
|
WRIGHT TILES LIMITED
t/a Just Tiles (4)
|
21 years 04/12/2006 until
03/12/2027 (5)
|
£28,250 (6)
|
|
| Total |
|
1,761 sq m
|
(18,961 sq ft)
|
|
|
£120,580
|
|
(1) Emmaus St Albans is a charity working to end homelessness. Established in the 1940s, Emmaus now have over 90 charity shops across the UK (Source: www.emmaus.org.uk 17/02/2017).
(2) Under the terms of the lease, the current rent is £33,500 per annum with a fixed rental increase to £35,000 per annum in February 2018. The seller has agreed to adjust the completion monies so that the unit will effectively produce £35,000 per annum from completion of the sale. The lease provides a tenant option to determine on 03/02/2025.
(3) Hertswood is a UK joinery manufacturer of bespoke conservatories and orangeries, hardwood windows and doors, with over 15 years experience. Hertswood is widely known to the trade as A Plus Joinery Ltd (Source: www.hertswood.com 17/02/2017).
(4) Just Tiles are specialists in ceramic wall and floor tiles, domestic and contract fixing (Source: www.justtiles.com 17/02/2017).
(5) The current lease is for a term of 11 years expiring 03/12/2017, although, in addition, a reversionary lease is in place from expiry of the current term until 02/12/2027 at a rent of £28,250 per annum. The seller has agreed to adjust the completion monies so that the unit will effectively produce £28,250 per annum from completion of the sale.
(6) The seller holds a rental deposit for each unit.
