Regular and level site of approximately 1.04 hectares (2.58 acres) with a low site coverage of approximately 58%
M25 Approx 25 miles to the south
Adjacent to Arlesey Railway Station (37 minutes to London King’s Cross)
Longer term residential redevelopment potential (subject to consents)
Lot 47
Auction 13th July 2017
Rent £47,500 per Annum Exclusive
Status Sold
Price £609,000
Sector Industrial/Warehouse
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
On Behalf of M7 Real Estate
Property Information
Location
Miles
15 miles north-east of Luton, 26 miles east of Milton Keynes, 40 miles north of London
Roads
A1(M), A6, A507, M1, M25
Rail
Arlesey Railway Station
Air
Luton Airport, Stansted Airport
Situation
Arlesey is situated some 5 miles north of Hitchin and benefits from excellent transport links to the A1(M) some 3 miles to the east. Old Oak Industrial Estate is situated off Old Oak Close, immediately adjacent to Arlesey Railway Station (37 minutes to London King’s Cross) to the north.
Tenure
Freehold.
Location
Miles
15 miles north-east of Luton, 26 miles east of Milton Keynes, 40 miles north of London
Roads
A1(M), A6, A507, M1, M25
Rail
Arlesey Railway Station
Air
Luton Airport, Stansted Airport
Situation
Arlesey is situated some 5 miles north of Hitchin and benefits from excellent transport links to the A1(M) some 3 miles to the east. Old Oak Industrial Estate is situated off Old Oak Close, immediately adjacent to Arlesey Railway Station (37 minutes to London King’s Cross) to the north.
Tenure
Freehold.
Description
The property comprises a broadly regular shaped and level site of approximately 1.04 hectares (2.58 acres) upon which is a low density industrial estate comprising eight units. The site may benefit from longer term residential redevelopment potential (subject to consents).
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 broadly regular shaped and level site of approximately 1.04 hectares (2.58 acres) upon which is a low density industrial estate comprising eight units. The site may benefit from longer term residential redevelopment potential (subject to consents).
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
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
A
Ground
Industrial
267.00 sq m
(2,874 sq ft)
HEATHERSIDE SHEET MATERIAL LIMITED (WITH PERSONAL GUARANTEE) (1)
2 years from 12/05/2017
£15,000
(11/05/2019) (2)
B
Ground Mezzanine
Industrial
273.10 sq m
(2,940 sq ft)
COLE AND MILLER AUTOMOTIVES LIMITED (3)
10 years from 20/01/2017
£14,000
20/01/2022 (19/01/2027)
C
Ground
Industrial
276.20 sq m
(2,973 sq ft)
COLE AND MILLER AUTOMOTIVES LIMITED (3)
10 years from 20/01/2017
£18,000
20/01/2022 (19/01/2027) (2)
Units 4A, 4B, 4C, D and Units 1-3
Ground
Industrial
2,362.20 sq m
(25,427 sq ft)
VARIOUS
Held on 5 separate 999 year leases
£500 (4)
Total
3,178.50 sq m
(34,214 sq ft)
£47,500
(1) Heatherside Sheet Material Limited were incorporated in 2003 and are one of the leading stainless steel fabricators in the Bedfordshire area with over 30 years of experience (Source: www.heathersidesheetmetal.co.uk). The seller is holding an £8,500 rent deposit. (2) The lease is outside of the security provisions of the Landlord and Tenant Act 1954. (3) Cole and Miller Automotives Limited were incorporated in 2007 and provide automobile servicing, repairs and MOT testing.The seller is holding rent deposits to the sum of £10,618.66. (4) As to units 4A, 4B,4C, D and Units 1-3, the total ground rents reserved under the terms of the lease is £500 per annum.
