Let to CPL Distribution Limited on a recently renewed lease until May 2023 (no breaks)
Tenant in occupation since 1995
Strategically located with easy access to M11, A10, A414, A1(M) and M25
Attractive and affluent location
Large site totalling approximately 2 acres (0.80 hectares)
Future redevelopment potential (subject to consents)
Lot 103
Auction 18th October 2018
Rent £75,000 per Annum Exclusive
Status Sold Prior
Price
Sector Industrial/Warehouse
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
3.5 miles from Ware town centre, 5 miles north of Harlow, 6 miles south-west of Bishop’s Stortford, 25 miles north of Central London
Roads
A414, A10, M11, A1(M), M25
Rail
Ware Railway Station (Approx 45 mins direct to London Liverpool Street)
Air
London Stansted Airport
Situation
Widford is an attractive and affluent, largely residential arealocated just 3 miles from Ware town centre in east Hertfordshire. The property is well located on the north side of Ware Road, close to the A414 and A10 which provides access to Central London and the M25 to the south. In addition, the M11 and A1(M) are close by, providing access to London to the south and the wider national motorway network. Widford and Ware are popular London commuter locations and benefit from Greater Anglia services operating from Ware town centre, offering direct, regular services to London Liverpool Street station with an approximate journey time of 45 minutes.
Tenure
Freehold.
Location
Miles
3.5 miles from Ware town centre, 5 miles north of Harlow, 6 miles south-west of Bishop’s Stortford, 25 miles north of Central London
Roads
A414, A10, M11, A1(M), M25
Rail
Ware Railway Station (Approx 45 mins direct to London Liverpool Street)
Air
London Stansted Airport
Situation
Widford is an attractive and affluent, largely residential arealocated just 3 miles from Ware town centre in east Hertfordshire. The property is well located on the north side of Ware Road, close to the A414 and A10 which provides access to Central London and the M25 to the south. In addition, the M11 and A1(M) are close by, providing access to London to the south and the wider national motorway network. Widford and Ware are popular London commuter locations and benefit from Greater Anglia services operating from Ware town centre, offering direct, regular services to London Liverpool Street station with an approximate journey time of 45 minutes.
Tenure
Freehold.
Description
The property, a well secured open storage depot, comprises a large concrete surfaced yard extending to approximately 43,475 sq ft, upon which two fixed storage units and three
temporary storage units have been built. The total site extends to approximately 2 acres (0.80 hectares).
VAT
VAT is applicable to this lot.
Planning
The property may be suitable for future redevelopment and change of use (subject to consents). For further information please visit East Herts Council www.eastherts.gov.uk.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Covenant
CPL Distribution is the UK’s largest coal and solid fuel merchants and can trace its heritage back to 1731. Currently CPL operates from over 40 depots nationwide supplying over 100,000 customers (www.cpldistribution.co.uk).
For the year ending 31st March 2017, CPL Distribution Limited reported a turnover of £75,601,000,
pre-tax profits of £1,797,000 and a total net worth of £36,187,000 (Source: Experian Group 28/06/2018).
Description
The property, a well secured open storage depot, comprises a large concrete surfaced yard extending to approximately 43,475 sq ft, upon which two fixed storage units and three
temporary storage units have been built. The total site extends to approximately 2 acres (0.80 hectares).
VAT
VAT is applicable to this lot.
Planning
The property may be suitable for future redevelopment and change of use (subject to consents). For further information please visit East Herts Council www.eastherts.gov.uk.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Covenant
CPL Distribution is the UK’s largest coal and solid fuel merchants and can trace its heritage back to 1731. Currently CPL operates from over 40 depots nationwide supplying over 100,000 customers (www.cpldistribution.co.uk).
For the year ending 31st March 2017, CPL Distribution Limited reported a turnover of £75,601,000,
pre-tax profits of £1,797,000 and a total net worth of £36,187,000 (Source: Experian Group 28/06/2018).
Tenancy & Accommodation
Site Area
Tenant
Term
Rent p.a.x
Reversion
2 acres
(0.80 hectares)
CPL DISTRIBUTION LIMITED (1)
5 years from 01/06/2018 (2)
£75,000
31/05/2023
2 acres
(0.80 hectares)
£75,000
(1) CPL Distribution is the UK’s largest coal and solid fuel merchants and can trace its heritage back to 1731. Currently, CPL operates from over 40 depots nationwide supplying over 100,000 customers (www.cpldistribution.co.uk). For the year ending 31st March 2017, CPL Distribution Limited reported a turnover of £75,601,000, pre-tax profits of £1,797,000 and a total net worth of £36,187,000 (Source: Experian Group 28/06/2018). (2) The lease is contracted outside of the security of tenure provisions of the Landlord & Tenant Act 1954.
