Toolspec Manufacturing Company 4 Sedgwick Road Luton LU4 9DT

Toolspec Manufacturing Company
4 Sedgwick Road
Luton
LU4 9DT

Freehold Index-Linked Industrial Investment

Entirely let to Toolspec Manufacturing Company Limited
Annual RPI linked rent increases (minimum 2% pa and maximum 5% pa)
Approximately 2,704.80 sq m (29,105 sq ft) on 0.4 hectare (1 acre) site
Established industrial estate approximately 1.5 miles to Junction 11A of the M1 motorway
Nearby occupiers include Vauxhall, Novoferm, Kensington Traders and Booker Wholesale

Lot
26
Auction
11th July 2019
Rent
£126,494 per Annum Exclusive
Status
Sold
Price
£2,100,000
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

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Freehold Index-Linked Industrial Investment

Entirely let to Toolspec Manufacturing Company Limited
Annual RPI linked rent increases (minimum 2% pa and maximum 5% pa)
Approximately 2,704.80 sq m (29,105 sq ft) on 0.4 hectare (1 acre) site
Established industrial estate approximately 1.5 miles to Junction 11A of the M1 motorway
Nearby occupiers include Vauxhall, Novoferm, Kensington Traders and Booker Wholesale

Lot 26
Auction 11th July 2019
Rent £126,494 per Annum Exclusive
Status Sold
Price £2,100,000
Sector
Industrial, Warehouse
Auction Venue
The Montcalm Hotel
2 Wallenberg Place
London W1H 7TN

Property Information

Location

Miles: 4 miles north-west of Luton town centre; 19 miles south of Bedford; 38 miles north-west of Central London
Roads: M1 (J11A), A5, A6, A1(M), M25
Rail: Luton Station (London St Pancras 28 mins)
Air: London Luton, London Heathrow

Situation

Luton is one of the most populous towns without city status in the UK. The property is situated in the northern edge of the town, on the North Luton Industrial Estate. The industrial estate benefits from excellent connections to London and the North being located close to the M1 motorway. The property is located on the southern side of Sedgwick Road, close to its junction with Toddington Road, in a predominantly industrial location. Other nearby occupiers include Vauxhall, Novoferm, Kensington Traders and Booker Wholesale.

Tenure

Freehold.

Location

Miles: 4 miles north-west of Luton town centre; 19 miles south of Bedford; 38 miles north-west of Central London
Roads: M1 (J11A), A5, A6, A1(M), M25
Rail: Luton Station (London St Pancras 28 mins)
Air: London Luton, London Heathrow

Situation

Tenure

Freehold.

Description

The property comprises a three bay single storey industrial unit with an attached two storey office and storage building on the front elevation. The property benefits from car parking for 23 cars and a goods loading area at the front of the building.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band B. See legal pack at acuitus.co.uk

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band B. See legal pack at acuitus.co.uk

Tenancy & Accommodation

Unit	Floor	Use	Gross Internal Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews
Industrial Office	Ground Ground First	Industrial/ Manufacturing Office/Ancillary Office Ancillary	2,293.20 sq m 205.80 sq m 205.80 sq m	(24,675 sq ft) (1) (2,215 sq ft) (2,215 sq ft)	TOOLSPEC MANUFACTURING COMPANY LIMITED (2)	15 years from 23/12/2010 until 22/12/2025 on a full repairing and insuring lease	£126,494 (£4.35 per sq ft)	RPI linked rent increases on 23/12/2019 and annually thereafter (collared at 2% pa and capped at 5% pa)
Total			2,704.80 sq m	(29,105 sq ft) (1)			£126,494

(1) The property benefits from a mezzanine area of about 907.10 sq m (9,760 sq ft), not included in the floor areas above, which was erected to provide for additional storage and manufacturing space.
(2) Toolspec Manufacturing Company was founded in 1961 as a tool making business. Over 50 years later and Toolspec has evolved with customer requirements to become an industry leading specialist in tubular manipulation and complex welded assemblies (Source: www.toolspec.co.uk/about/ 06/06/2019).