Property Auctions 28/Mar/2018 | Twydale Business Centre, Skerne Road, Driffield, East Riding of Yorkshire, YO25 6JX

Freehold Industrial Investment

Substantial multi let business estate in established industrial location
Low vacancy rate (over 98% area let)
Approximately 5,374.24 sq m (57,848 sq ft) accommodation

Lot 27
Auction 28th March 2018
Rent £167,104 per Annum Exclusive
Status Sold
Price £1,600,000
Sector
Industrial/Warehouse
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 22 miles north of Hull; 30 miles east of York
Roads: A614, A166
Rail: Driffield Rail (direct services to Hull and Sheffield)
Air: Humberside Airport; Leeds Bradford Airport

Situation

Driffield is a market town located some 22 miles north of Hull and 30 miles east of York.
Twydale Business Centre is located in an established industrial location to the south of the
town centre and within 0.5 miles of Driffield railway station, which offers direct services to Hull and Sheffield. Nearby occupiers include Driffield Business Centre and a number of other businesses.

Tenure

Freehold.

Location

Miles: 22 miles north of Hull; 30 miles east of York
Roads: A614, A166
Rail: Driffield Rail (direct services to Hull and Sheffield)
Air: Humberside Airport; Leeds Bradford Airport

Situation

Driffield is a market town located some 22 miles north of Hull and 30 miles east of York.
Twydale Business Centre is located in an established industrial location to the south of the
town centre and within 0.5 miles of Driffield railway station, which offers direct services to Hull and Sheffield. Nearby occupiers include Driffield Business Centre and a number of other businesses.

Tenure

Freehold.

Description

The property comprises a business centre comprising industrial units varying from approximately 200 sq ft to 5,500 sq ft and open storage. The site extends to approximately 3.155 acres (1.277 hectares).

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 business centre comprising industrial units varying from approximately 200 sq ft to 5,500 sq ft and open storage. The site extends to approximately 3.155 acres (1.277 hectares).

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

Unit	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review/ (Reversion)
1	179.02 sq m	(1,927 sq ft)	COUNTRY MACHINERY LIMITED	6 years from 1/09/2017 (1)	£6,000	(31/08/2023)
2	306.02 sq m	(3,294 sq ft)	CAPE CUTTER MARINE LTD	3 years from 01/01/2018 (2)	£8,000	(31/12/2020)
2b, 3, 4 and 6	1,355.45 sq m	(14,590 sq ft)	HEARTLAND INTERIORS LTD	6 years from 01/02/2016 (1)	£33,000	01/02/2019 (30/01/2022)
4b	207.92 sq m	(2,238 sq ft)	7 VISION LIMITED	4 years from 01/05/2017 (2)	£9,633	(30/04/2021)
5	161.00 sq m	(1,733 sq ft)	INDIVIDUAL	6 years from 02/09/2017	£6,086	01/09/2018 (3) (01/09/2023)
7a	277.41 sq m	(2,986 sq ft)	INDIVIDUAL	3 years from 01/07/2016	£9,257	(30/06/2019)
7b	142.42 sq m	(1,533 sq ft)	INDIVIDUAL t/a Flexi Systems	6 years from 01/08/2016 (1)	£4,807	01/08/2019 (4) (31/07/2022)
8	501.68 sq m	(5,400 sq ft)	WOOD ART STUDIO LTD	3 years from 01/02/2017	£14,950	(31/01/2020)
8a	123.93 sq m	(1,334 sq ft)	THE CAVE GYM & PERSONAL TRAINING LIMITED	3 years from 01/10/2015 (2)	£4,560	(30/09/2018)
8b	42.27 sq m	(455 sq ft)	WATFORD SHIPPING SOLUTIONS LTD	3 years from 15/12/2017	£3,422	(14/12/2020)
8c	42.27 sq m	(455 sq ft)	SEDMAN SHOES LIMITED	3 years from 01/12/2015	£2,297	(30/11/2018)
9	291.34 sq m	(3,136 sq ft)	INDIVIDUAL	6 years from 01/04/2017 (1)	£11,000	01/04/2020 (5) (31/03/2023)
10b	106.56 sq m	(1,147 sq ft)	ATS INNOVATIONS LTD	2 years from 01/01/2018 (2)	£3,674	(31/12/2020)
10c	106.65 sq m	(1,148 sq ft)	NURTURE LANDSCAPES LTD	3 years from 01/02/2016	£3,934	(31/01/2019)
10d	95.23 sq m	(1,025 sq ft)	THE BEER WORKS LTD	3 years from 01/02/2017	£3,800	(29/02/2020)
10e	167.23 sq m	(1,800 sq ft)	H&A BELL LTD	10 years from 01/03/2016 (2)	£4,893	01/03/2019 and 01/03/2022 (6) (28/02/2026)
15	41.81 sq m	(450 sq ft)	COLEMANS CIDER COMPANY LTD	6 years from 01/05/2017 (1)	£2,628	01/04/2020 (7) (30/04/2023)
Container 2	14.86 sq m	(160 sq ft)	INDIVIDUAL	Licence from 10/05/2017	£960	3 month rolling break option
Container 3	14.86 sq m	(160 sq ft)	THE BEER WORKS LTD	6 months from 01/01/2018	£1,152	(30/06/2018)
2a, 3b, 10a and Container 1	283.54 sq m	(3,052 sq ft)	VARIOUS INDIVIDUALS	4 separate leases	£11,489	(August - November 2018) (2)
3a, 3c, 4b (Compound), 7c and 9a	787.45 sq m	(8,476 sq ft)	VARIOUS INDIVIDUALS	5 separate leases	£19,642	(March - August 2020)
1a, 1b and 16	95.60 sq m	(1,029 sq ft)	VACANT POSSESSION
Container 4	14.86 sq m	(160 sq ft)	COLEMANS CIDER COMPANY LTD	3 months from 01/02/2018	£960
Container 5	14.86 sq m	(160 sq ft)	CAPE CUTTER MARINE LTD	3 months from 01/02/2018	£960
Total	5,374.24 sq m	(57,848 sq ft)			£167,104

(1) The leases for units 1, 2b, 3, 4, 6, 7b, 9 and 15 provide an option to determine on the third anniversary of the term.
(2) The leases for units 2, 4b, 8a, 10b and 10e provide options to determine. Please refer to the legal pack for further information.
(3) The lease of Unit 5 provides a fixed increase to £6,886 p.a. on 01/09/2018.
(4) The lease of Unit 7b provides a fixed increase to £5,572 p.a. on 01/08/2019.
(5) The lease of Unit 9 provides a fixed increase to £12,250 p.a. on 01/04/2020.
(6) The lease of Unit 10e provides a fixed increase to £5,592 p.a. on 01/03/2019 and to £6,000 p.a. on 01/03/2022.
(7) The lease of Unit 15 provides a fixed increase to £2,968 p.a. on 01/04/2020.