Let to Travis Perkins (Properties) Limited until November 2031 (no breaks)
5 yearly upward only rent reviews linked to a minimum of 3% per annum compounded
Rent rising to a minimum of £110,725.74 in 2022 and £128,361.49 in 2027
Close proximity to the M5 (junction 2)
Approximate site area of 0.48 hectares (1.19 acres)
Future option to purchase freehold for £1 (see legal pack)
Lot 27
Auction 11th July 2019
Rent £95,513 per Annum Exclusive
Status Sold
Price £1,450,000
Sector Industrial/Warehouse
Auction Venue The Montcalm Hotel 2 Wallenberg Place London W1H 7TN
On behalf of a Major Investment Manager
Property Information
Location
Miles
6 miles west of Birmingham
Roads
M5 (Junction 2), B4182, A457
Rail
Langley Green
Air
Birmingham International Airport
Situation
Oldbury is located 6 miles west of Birmingham city centre. The property is situated in an established industrial location on Tat Bank Road with nearby occupiers including Applus Aerospace UK, Liberty Industries Group and Montracon. The location benefits from strong road connections, with junction 2 of the M5 Motorway approximately 1.2 miles west of the property, providing excellent access to the wider motorway network and Birmingham city centre.
Tenure
Long Leasehold. Held for a term of 200 years from 01/12/2006 at a peppercorn rent. The lease provides an option to purchase the Freehold for £1 + VAT, subject to conditions being satisfied. Please refer to the legal pack for further information.
Location
Miles
6 miles west of Birmingham
Roads
M5 (Junction 2), B4182, A457
Rail
Langley Green
Air
Birmingham International Airport
Situation
Oldbury is located 6 miles west of Birmingham city centre. The property is situated in an established industrial location on Tat Bank Road with nearby occupiers including Applus Aerospace UK, Liberty Industries Group and Montracon. The location benefits from strong road connections, with junction 2 of the M5 Motorway approximately 1.2 miles west of the property, providing excellent access to the wider motorway network and Birmingham city centre.
Tenure
Long Leasehold. Held for a term of 200 years from 01/12/2006 at a peppercorn rent. The lease provides an option to purchase the Freehold for £1 + VAT, subject to conditions being satisfied. Please refer to the legal pack for further information.
Description
The property comprises a substantial warehouse, currently arranged to provide a ground floor warehouse, mezzanine level, two storey offices and an entrance lobby. Travis Perkins uses the warehouse for maintenance of its tool hire stock. The property benefits from a large site area of approximately 0.48 hectares (1.19 acres) and a low approximate site cover of 22%.
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 substantial warehouse, currently arranged to provide a ground floor warehouse, mezzanine level, two storey offices and an entrance lobby. Travis Perkins uses the warehouse for maintenance of its tool hire stock. The property benefits from a large site area of approximately 0.48 hectares (1.19 acres) and a low approximate site cover of 22%.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
25 years from 01/12/2006 until 30/11/2031 on a full repairing and insuring lease (2)
£95,513
01/12/2022 and five yearly (3)
Total
1,547.40 sq m
(16,657 sq ft)
£95,513 rising to a minimum of £110,725.74 in 2022 and £128,361.49 in 2027
(1) For the year ending 31 December 2018, Travis Perkins (Properties) Limited reported a turnover of £92,200,000, pre-tax profits of £52,200,000 and a total net worth of £277,100,000 (Source: beta.companieshouse.gov.uk 31/05/2019). Travis Perkins is the UK's largest distributor of building materials and has been helping build Britain for over 200 years. With 20+ businesses in the Group, they have grown to approximately 29,000+ employees across more than 2,000 branches, stores and sites around the UK (Source: www.travisperkinsplc.co.uk 05/06/2019). (2) The lease is subject to a schedule of condition. (3) The rent reviews are upwards only to the higher of two thirds of Market Rent (as defined in the lease) or the annual rent payable increased by 3% per annum compounded annually. For further information please refer to the lease available in the legal pack.
