Tenancy & Accommodation
| Unit |
Floor |
Use |
Floor Areas (Approx) |
Tenant |
Term |
Rent p.a.x |
Reviews |
| 1&2 |
Ground |
Retail
Warehouse |
797.09 sq m |
(8,580 sq ft) |
SCREWFIX DIRECT
LIMITED (1) |
10 years from
07/06/2017 until
06/06/2027 (2) |
£45,000 |
06/06/2022 |
| 3 |
Ground |
Retail
Warehouse |
270.90 sq m |
(2,916 sq ft) |
DENMANS ELECTRICAL
WHOLESALERS
LIMITED (3) |
10 years from
21/10/2017 until
20/10/2027 (4) |
£17,000 |
21/10/2022 |
| 4 |
Ground |
Industrial |
1,781.65 sq m |
(19,178 sq ft) |
PCL CERAMICS
LIMITED (5) |
2 years from
01/01/2017 |
£35,800 |
|
| 5 |
Ground |
Industrial |
1,178.54 sq m |
(12,686 sq ft) |
ADVANCE
ENGINEERING (UK)
LIMITED (6) |
6 years from
02/03/2015 |
£30,000 |
02/03/2018 |
| Total |
|
4,028.18 sq m |
(43,360 sq ft) |
|
|
£127,800 |
|
(1) For the year ending 31 January 2016, Screwfix Direct Limited reported a turnover of £1,057,373,000, pre-tax profits of £91,053,000 and a total net worth of £348,231,000 (Source: Experian Group 04/09/2017).
(2) The lease provides an option to determine on 06/06/2022.
(3) Denmans Electrical Wholesalers Limited was founded in 1946 and was aquired by the Rexel Group in 1999. The Rexel Group is a global leader in the distribution of electrical supplies and services operating in 35 countries, with a network of some 2,100 branches, a distribution network of more than 40 banners and 28,000 employees (Source: denmans.co.uk/about-us 04/09/2017). The tenant is currently occupying on a 10 year lease expiring 21/10/2017. A new 10 year lease (terms stated above) is due to complete imminently.
(4) The lease provides a tenant option to determine on 21/10/2022. Denmans Electrical Wholesalers Limited will benefit from a 3 month rent free period commencing on 21/10/2017. The seller has agreed to adjust the completion monies so that the unit will effectively produce £17,000 p.a.x. from completion of the sale.
(5) For the year ending 25 November 2016, PCL Ceramics Limited reported a turnover of £8,855,804, pre-tax profits of £1,810,825 and a total net worth of £3,599,971 (Source: Experian Group 04/09/2017).
(6) Advance Engineering (UK) Limited offers a full range of engineering expertise based in King’s Lynn where they have a 1,250 sq m workshop to accommodate all their fabrication requirements ( Source: advanceengineeringltd.co.uk 04/09/2017) .
