Entirely let to Sumitomo Electrical Wiring Systems (Europe) Limited
Headquarter building purpose built and occupied by the tenant since 1999
Agreement for a new lease has been completed
Approximately 1,852.11 sq m (19,936 sq ft) and 0.44 hectares (1.09 acres)
Nearby occupiers including Garners Garden Centre, Options Management Ltd & Business Post Ltd
Six Week Completion Period Available
Rent is subject to Note 3
Lot 21
Auction 7th July 2011
Rent £110,000 per Annum Exclusive
Status Sold
Price £950,000
Sector Office
Auction Venue Millennium Hotel 39-44 Grosvenor Square London W1K 2HP
On Instructions from Sarah Rayment & Shay Bannon of BDO LLP as Joint LPA Receivers
Property Information
Location
Miles
4 miles west of Stoke-on-Trent, 43 miles south of Manchester, 54 miles south-east of Liverpool
Roads
A525, A34, M6 (Junction 15 & 16)
Rail
Stoke-on-Trent Railway Station
Air
Manchester International Airport
Situation
The property is situated in a prominent corner position at the junction of Cemetery Road and Maries Way in an established business park location. The property benefits from excellent access to the M6 motorway (Junctions 15 and 16) providing direct access to Birmingham to the south and Warrington to the north.
Tenure
Freehold.
Location
Miles
4 miles west of Stoke-on-Trent, 43 miles south of Manchester, 54 miles south-east of Liverpool
Roads
A525, A34, M6 (Junction 15 & 16)
Rail
Stoke-on-Trent Railway Station
Air
Manchester International Airport
Situation
The property is situated in a prominent corner position at the junction of Cemetery Road and Maries Way in an established business park location. The property benefits from excellent access to the M6 motorway (Junctions 15 and 16) providing direct access to Birmingham to the south and Warrington to the north.
Tenure
Freehold.
Description
The property comprises a purpose built detached office and industrial building with office accommodation to the front and a substantial warehouse to the rear. The property benefits from 2 roller shutter doors, air conditioning in part, suspended ceilings and central heating. Additionally, there is a large covered car park to the rear providing approximately 50 car parking spaces.
NB. This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a purpose built detached office and industrial building with office accommodation to the front and a substantial warehouse to the rear. The property benefits from 2 roller shutter doors, air conditioning in part, suspended ceilings and central heating. Additionally, there is a large covered car park to the rear providing approximately 50 car parking spaces.
NB. This property is being marketed on behalf of Joint Law of Property Act Receivers and therefore no warranties or guarantees in any respect can be given. The LPA Receivers are not bound to accept the highest or any offer and are acting without personal liability.
VAT
VAT is applicable to this lot.
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
Reversion
Ground Ground First
Office/Ancillary Warehouse Office
656.80 sq m 655.20 sq m 540.14 sq m
(7,069 sq ft) (7,053 sq ft) (5,814 sq ft)
SUMITOMO ELECTRICAL WIRING SYSTEMS (EUROPE) LIMITED (1)
5 years from and including 25/03/2011 (2)
£110,000 (3)
24/03/2016
Totals
1,854.14 sq m
(19,936 sq ft)
£110,000
(1) Sumitomo Electric Wiring Systems Europe Ltd is a major supplier of automotive wiring and is responsible for the design, manufacture and supply of fuse boxes and electronics, wiring harnesses and connectors to most of Europe's leading motor manufacturers. They currently employ over 10,000 staff. (Source: www.sews-e.com). (2) An agreement for lease has been completed under these terms. The tenant is currently undertaking a fit-out and upon completion of these works the new lease will be completed and backdated from the 25th March 2011 as stated. If the tenant does not complete its works then the landlord has the option to terminate the agreement for lease or force the tenant to complete the new lease. The tenant is currently in occupation under the existing lease terms of its original 15 year lease from 29th September 1999 subject to the removal of its option to determine. (3) The tenant is currently benefiting from a rent free period due to expire on 24th March 2012. The seller has agreed to adjust the completion monies so that the property will effectively produce £110,000 from completion of the sale.
Contacts
Seller's Solicitors
CMS Cameron McKenna LLP Mitre House, 160 Aldersgate Street London EC1A 4DD +44 (0)20 7367 2000
