Situated within the well established Henwood Industral Estate
Benefits from close proximity to the M20 (Junction 9) and Ashford International train station
Lease is outside the security of tenure provisions of the Landlord and Tenant Act 1954
Lot 61
Auction 28th March 2018
Rent £15,000 per Annum Exclusive
Status Withdrawn Post
Price
Sector Industrial/Warehouse
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
12 miles south-west of Canterbury, 50 miles south-east of the City of London, 50 miles north east of Brighton
Roads
A292, A20, M20 (Junction 9)
Rail
Ashford International Train Station
Air
Gatwick Airport
Situation
The property is prominently situated in the well established Kingfisher Business Centre on the Henwood Industrial Estate, on the south side of the M20 within close proximity to junction 9 and within a mile of Ashford International Train Station. Nearby occupiers include Speedy Hire and a number of other traders.
Tenure
Freehold.
Location
Miles
12 miles south-west of Canterbury, 50 miles south-east of the City of London, 50 miles north east of Brighton
Roads
A292, A20, M20 (Junction 9)
Rail
Ashford International Train Station
Air
Gatwick Airport
Situation
The property is prominently situated in the well established Kingfisher Business Centre on the Henwood Industrial Estate, on the south side of the M20 within close proximity to junction 9 and within a mile of Ashford International Train Station. Nearby occupiers include Speedy Hire and a number of other traders.
Tenure
Freehold.
Description
The property comprises industrial accommodation on the ground and first floor. The entire roof surface accommodates solar energy panels (4).
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 industrial accommodation on the ground and first floor. The entire roof surface accommodates solar energy panels (4).
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/ (Reversion)
Ground First
Industrial Industrial
127.42 sq m 104.51 sq m
(1,371 sq ft) (1,125 sq ft)
VERTIGO PROPERTY MANAGEMENT LTD
10 years from 1/11/2017 (1) (2)
£15,000 (3)
01/11/2018, 01/11/2019 and 01/11/2023 (30/10/2027)
Total
231.93 sq m
(2,496 sq ft)
£15,000 (3)
(1) The lease is subject to a tenant option to determine on 24/11/2024. (2) The lease is outside the security of tenure provisions of the Landlord and Tenant Act 1954. (3) The current rent reserved under the terms of the lease is £12,000 p.a.x. The lease provides for a fixed increase in rent to £13,500 p.a.x. on 01/11/2018 and to £15,000 p.a.x. on 01/11/2019. The seller will pay the buyer the difference between the current rent reserved of £12,000 p.a.x and £13,500 p.a.x. from completion of sale until 01/11/2018 and the difference between £13,500 p.a.x. and £15,000 p.a.x. from 01/11/2018 until 01/11/2019. Therefore the property will produce £15,000 p.a.x. from completion of the sale. (4) As to the solar energy panels, there is a lease granted in favour of Symbio Energy LLP for a term of 50 years from 7th March 2013 at a current rent reserved of £1 p.a.x. The lease is outside of the security of tenure provisions of the Landlord and Tenant Act 1954, but does provide for a tenant option to extend the lease for a further 50 years. The lease provides for the tenant to operate extensive rooftop solar energy panels and supply electricity to the property. Under the terms of the lease in favour of Symbio Energy LLP, the occupational tenant and the freeholder may benefit from discounted prices for electricity. See lease for details.
