Majority let to Kwik-Fit Properties Ltd on a 25 year lease until 2022
Established industrial location
Nearby occupiers include Visiocorp, Homewood Interiors and the Murrills Trading Estate
Approximate site area of 0.30 hectares (0.75 acres)
On-site car parking
Prominent position fronting the A27 providing direct access to Junction 12 of the M27
Six Week Completion Period Available
Lot 29
Auction 26th May 2011
Rent £100,728 per Annum Exclusive
Status Sold
Price £950,000
Sector Motor Trade, Petrol Station
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
Property Information
Location
Miles
2.9 miles east of Fareham, 5.4 miles north of Portsmouth, 16.1 miles south-east of Southampton
Roads
A27, M27 (Junction 12)
Rail
Portchester Railway Station
Air
Southampton Airport
Situation
The property is situated in a prominent corner position on East Street (A27) in the established Castle Trading Estate, some 0.8 miles west of the M27 motorway (Junction 12). Murrills Trading Estate, which houses various occupiers such as Intouch Meridian and Casson Beckman, lies directly opposite, with other nearby occupiers including Visiocorp and Homewood Interiors.
Tenure
Freehold.
Location
Miles
2.9 miles east of Fareham, 5.4 miles north of Portsmouth, 16.1 miles south-east of Southampton
Roads
A27, M27 (Junction 12)
Rail
Portchester Railway Station
Air
Southampton Airport
Situation
The property is situated in a prominent corner position on East Street (A27) in the established Castle Trading Estate, some 0.8 miles west of the M27 motorway (Junction 12). Murrills Trading Estate, which houses various occupiers such as Intouch Meridian and Casson Beckman, lies directly opposite, with other nearby occupiers including Visiocorp and Homewood Interiors.
Tenure
Freehold.
Description
The property comprises two self-contained units currently used as a tyre depot and a car wash. There is additionally a telephone mast on the site. The property benefits from on-site car parking and a total approximate site area of 0.30 hectares (0.75 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 two self-contained units currently used as a tyre depot and a car wash. There is additionally a telephone mast on the site. The property benefits from on-site car parking and a total approximate site area of 0.30 hectares (0.75 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
Unit
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
A
Tyre Deport
687.48 sq m
(7,400 sq ft)
KWIK-FIT PROPERTIES LIMITED (1)
25 years from 30/07/1997 until 29/07/2022
£58,500
30/07/2012 and five yearly thereafter
B
Car Wash
306.48 sq m
(3,499 sq ft)
ANOUFF CAR WASH LIMITED (2) (t/a ARC Car Wash and quaranteed by Andouff Holdings Limited)
25 years from 05/03/1998 until 04/03/2023
£40,000
05/03/2013 and five yearly thereafter
Telephone Mast
VODAFONE LIMITED (3)
10 years from 28/04/1998 until 27/04/2008 (4)
£2,228.78
Totals
993.96 sq m
(10,699 sq ft)
£100,728.28
(1) For the year ending 31st December 2009, Kwik-Fit Properties Limited reported a turnover of £70,000, pre-tax profits of £678,000 and a total net worth of £10,099,000. (Source: www.riskdisk.com 12/04/2011) (2) Founded in Germany in 1965, IMO Car Wash, which trades as ARC in the UK, is the world's largest car wash company washing over 34 million cars per year at over 900 locations and in 14 countries. (Source: www.imocarwash.com 12/04/2011) (3) Vodafone Group plc is one of the world's largest mobile communications companies by revenue operating across the globe providing a wide range of communications services. They employ approximately 85,000 people and have significant global presence with equity interests in over 30 countries worldwide. (Source: www.vodafone.com 12/04/2011) (4) The tenant is currently holding over.
Contacts
Seller's Solicitors
Howard Kennedy Solicitors 1 London Bridge London SE1 9BG
