The property is situated in a prominent position on Potter Place, accessed directly off the A577 Pimbo Road, a mile from Junction 5 of the M58, which connects Liverpool and Manchester. The property forms part of the established West Pimbo Industrial Estate which houses major occupiers including Proctor & Gamble, Carrylift Group, Pepsico International, Flow-Tech and SCA.
Tenure
Long Leasehold. Held for a term of 109 years from 11/02/2014 until 28/07/2114 at a ground rent of
£56,000 per annum agreed at the 2017 review. The rent is reviewed 7 yearly to 50% of Open Market Ground Rental Value. The next review is August 2024. Option to purchase Freehold (see legal pack).
Location
Miles
20 miles north-east of Liverpool, 30 miles north-west of Manchester, 68 miles south-west of Leeds
The property is situated in a prominent position on Potter Place, accessed directly off the A577 Pimbo Road, a mile from Junction 5 of the M58, which connects Liverpool and Manchester. The property forms part of the established West Pimbo Industrial Estate which houses major occupiers including Proctor & Gamble, Carrylift Group, Pepsico International, Flow-Tech and SCA.
Tenure
Long Leasehold. Held for a term of 109 years from 11/02/2014 until 28/07/2114 at a ground rent of
£56,000 per annum agreed at the 2017 review. The rent is reviewed 7 yearly to 50% of Open Market Ground Rental Value. The next review is August 2024. Option to purchase Freehold (see legal pack).
Description
The property comprises a two storey serviced office building known as the Allied Business Centre, totalling approximately 2,826.13 sq m (30,421 sq ft) and subdivided into a range of individual suites with on-site parking. To the rear is a substantial warehouse of approximately 10,943.68 sq m (117,800 sq ft) with an eaves height of 6.7m and further benefits from a substantial service yard. Additionally there are eight self-storage containers on-site and the property benefits from an approximate site area of 4.29 hectares (10.60 acres).
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 two storey serviced office building known as the Allied Business Centre, totalling approximately 2,826.13 sq m (30,421 sq ft) and subdivided into a range of individual suites with on-site parking. To the rear is a substantial warehouse of approximately 10,943.68 sq m (117,800 sq ft) with an eaves height of 6.7m and further benefits from a substantial service yard. Additionally there are eight self-storage containers on-site and the property benefits from an approximate site area of 4.29 hectares (10.60 acres).
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
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.
Warehouse 1, 2 & 3
Warehouse
10,943.68 sq m
(117,800 sq ft)
MESSENGER EXPRESS LIMITED (1)
Let on three separate licences expiring between December 2018 and March 2019 (2)
£195,000 (2)
Various Suites
Office
1,338.23 sq m
(14,405 sq ft)
GMC-I PROSYS LIMITED (3)
5 years from 01/07/2018 until 30/06/2023 (4)
£90,031
Various Suites
Office
1,003.88 sq m
(10,806 sq ft)
VARIOUS
Let on a number of separate licences - please refer to the legal pack for further information
£89,292
Various Suites
Office
704.09 sq m
(7,579 sq ft)
VACANT POSSESSION (5)
(5)
£45,474 (5)
4 x storage containers
VARIOUS
Various Licences
£4,147
6 x storage containers
VACANT POSSESSION
Total
13,989.88 sq m
(150,590 sq ft)
£423,944 (5)
(1) For the year ending 30th April 2017, Messenger Express Limited reported a total net worth of £242,991 (Source: Experian Group 27/04/2018). (2) The passing rent equates to only £1.66 psf approximately. The landlord has recently carried out major capex and the tenant has now agreed a new lease, at a significantly higher rent, which is in solicitors hands. See legal pack for details. Messenger Express has been in occupation of the premises for over 20 years. (3) For the year ending 31st December 2016, GMC-I Prosys Limited reported a total net worth of £1,892,477 (Source: Experian Group 27/04/2018). (4) The lease provides for a tenant option to determine on 01/07/2021 subject to six months’ prior notice. (5) The vendor will provide a 12 month rental guarantee on the vacant office suites (totalling 7,579 sq ft) in the sum of £45,474 per annum. The completion monies will be adjusted so that the vacant office suites will effectively produce £45,474 per annum from completion of the sale.
