Let to John Lilley & Gillie Limited with a guarantee from Zöllner Holding GmbH
New 10 year lease (renewal) from July 2017 (subject to option)
Business operated from address since 1987
Approximately 10,030 sq ft
Located on the edge of Birmingham City Centre
Lot 63
Auction 19th October 2017
Rent £25,000 per Annum Exclusive
Status Sold
Price £405,000
Sector Industrial/Warehouse
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
0.5 miles south of Birmingham City Centre
Roads
A38(M), A41, A45, A4540, M6 (Junction 6)
Rail
Birmingham New Street and Birmingham Moor
Street Railway Stations
Air
Birmingham International Airport
Situation
Digbeth is an established suburb of Birmingham with good accessibility to the A41 and A38(M) Aston Expressway, which links to Junction 6 of the M6. Digbeth is located close to the Bull Ring Shopping Centre, the leisure area around Arcadian and Chinatown, with the Midlands Metro to be extended into Digbeth in 2018. The majority of the surrounding occupiers provide services and products to the City Centre, including a number of wholesale food distribution companies and Access Self Storage. There is free on-street parking and various pay and display car parks in the nearby vicinity.
Tenure
Freehold.
Location
Miles
0.5 miles south of Birmingham City Centre
Roads
A38(M), A41, A45, A4540, M6 (Junction 6)
Rail
Birmingham New Street and Birmingham Moor
Street Railway Stations
Air
Birmingham International Airport
Situation
Digbeth is an established suburb of Birmingham with good accessibility to the A41 and A38(M) Aston Expressway, which links to Junction 6 of the M6. Digbeth is located close to the Bull Ring Shopping Centre, the leisure area around Arcadian and Chinatown, with the Midlands Metro to be extended into Digbeth in 2018. The majority of the surrounding occupiers provide services and products to the City Centre, including a number of wholesale food distribution companies and Access Self Storage. There is free on-street parking and various pay and display car parks in the nearby vicinity.
Tenure
Freehold.
Description
The property comprises a ground and first floor industrial building, with ancillary offices.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground and first floor industrial building, with ancillary offices.
VAT
VAT is applicable to this lot.
Completion Period
Six Week Completion
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
Review
Ground
First
Industrial/ Warehouse Office
746.90 sq m
184.90 sq m
(8,040 sq ft)
(1,990 sq ft)
JOHN LILLEY & GILLIE LIMITED (1) with a guarantee from Zöllner Holding GmbH (2)
10 years from 02/07/2017 until 01/07/2027 (3) on a full repairing and insuring lease
£25,000
02/07/2022
Totals
931.79 sq m
(10,030 sq ft)
£25,000
(1) With over 200 years in business, John Lilley & Gillie Ltd (formerly known as JLG Marine Limited) are marine navigational equipment manufacturers and are the UK's pre-eminent manufacturer of magnetic compass outfits (Source: www.jlgmarine.com 03/08/2017). (2) The lease is guaranteed for the first 5 years by Zöllner Holding GmbH. Zöllner Holdings GmbH, based in Germany, produce specialist instruments for the locomotive, shipping and infrastructure sectors (Source: www.www.zoellner.de 03/08/2017). (3) The lease is subject to a tenant option to determine on 02/07/2022.
