Units 1 - 11 Leyland Close Fisons Way Thetford Norfolk IP24 1XA

Units 1 - 11 Leyland Close
Fisons Way
Thetford
Norfolk
IP24 1XA

Multi-Let Industrial Estate Investment

  • Established Fison Way Industrial Estate within 1 mile of the A11
  • 11 units totalling 1,244.07 sq m (13,390 sq ft)
  • Site area of approximately 0.35 hectares (0.86 acres) and site coverage 36%
  • Nearby occupiers include Hughes Service Centre, Boniface Engineering, TNT, CCF Insulation, Centurion Safety Products, Nissan, Kia, Ford and Volvo Truck & Bus
  • Lot
    4
  • Auction
    12th February 2020
  • Rent
    £53,450 per Annum Exclusive
  • Status
    Sold Post
  • Price
     
  • Sector
    Industrial/Warehouse
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
  • On Behalf of Receivers
Important Update
  • Expand
  • Photos
  • Map

* More information on the term "guide" can be found here

Multi-Let Industrial Estate Investment

  • Established Fison Way Industrial Estate within 1 mile of the A11
  • 11 units totalling 1,244.07 sq m (13,390 sq ft)
  • Site area of approximately 0.35 hectares (0.86 acres) and site coverage 36%
  • Nearby occupiers include Hughes Service Centre, Boniface Engineering, TNT, CCF Insulation, Centurion Safety Products, Nissan, Kia, Ford and Volvo Truck & Bus
  • Lot 4
  • Auction 12th February 2020
  • Rent
  • Status Sold Post
  • Price  
  • Sector
    Industrial/Warehouse
  • Auction Venue
    The Montcalm Hotel
    2 Wallenberg Place
    Marble Arch
    London W1H 7TN
  • On Behalf of Receivers

Property Information

Location
Miles
13 miles north of Bury St Edmunds
32 miles north-east of Cambridge
30 miles south-east of Norwich
Roads
A1066, A134, A11
Rail
Thetford Railway Station
Air
Norwich International Airport
Situation

The property is located within the well established Fison Way Industrial Estate some 1.5 miles north of the town centre and within 1 mile of the A11 trunk road which leads to the M11 Motorway. Nearby occupiers include Hughes Service Centre, Boniface Engineering, TNT, CCF Insulation, Centurion Safety Products, Nissan, Kia, Ford and Volvo Truck & Bus.

Tenure

Long Leasehold. Held from Individuals (who hold an intermediate co-terminous lease from the freeholder being the local authority) for a term of 99 years less 7 days from 1st April 1983 at a current ground rent reserved of £14,500 per annum exclusive. The rent is reviewed every 7 years with the next review in 2025.

Location
Miles
13 miles north of Bury St Edmunds
32 miles north-east of Cambridge
30 miles south-east of Norwich
Roads
A1066, A134, A11
Rail
Thetford Railway Station
Air
Norwich International Airport
Situation

The property is located within the well established Fison Way Industrial Estate some 1.5 miles north of the town centre and within 1 mile of the A11 trunk road which leads to the M11 Motorway. Nearby occupiers include Hughes Service Centre, Boniface Engineering, TNT, CCF Insulation, Centurion Safety Products, Nissan, Kia, Ford and Volvo Truck & Bus.

Tenure

Long Leasehold. Held from Individuals (who hold an intermediate co-terminous lease from the freeholder being the local authority) for a term of 99 years less 7 days from 1st April 1983 at a current ground rent reserved of £14,500 per annum exclusive. The rent is reviewed every 7 years with the next review in 2025.

Description

The property comprises a terrace of 11 ground floor industrial units. The units benefit from roller shutter doors and a front yard area providing parking and loading. In total, the units comprise 1,244.07 sq m (13,390 sq ft) and the approximate site area is
0.35 hectares (0.86 acres) and site coverage 36%. The approximate eaves height varies, with units 1, 2 and 3 at 3.5 metres and the rest of the units at 5.2 metres.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk

Description

The property comprises a terrace of 11 ground floor industrial units. The units benefit from roller shutter doors and a front yard area providing parking and loading. In total, the units comprise 1,244.07 sq m (13,390 sq ft) and the approximate site area is
0.35 hectares (0.86 acres) and site coverage 36%. The approximate eaves height varies, with units 1, 2 and 3 at 3.5 metres and the rest of the units at 5.2 metres.

VAT

VAT is applicable to this lot.

Note

This property is being marketed for sale on behalf of Fixed Charge Receivers and therefore no warranties or guarantees in any respect, including VAT, can be given. The information in these particulars has been provided by the Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.

Completion Period

Six Week Completion

EPC

Available from the legal pack at acuitus.co.uk

Tenancy & Accommodation

Unit Floor Use Floor Areas (Approx) Tenant Term Rent p.a.x Review/
(Reversion)
1 & 2 Ground Floor Industrial
217.40 sq m
(2,340 sq ft)
HAMMONDS
FURNITURE LTD
3 years from
15/09/2016 (1)
£9,750 (22/02/2020)
(1)
3 Ground Floor Industrial
108.70 sq m
(1,170 sq ft)
CARBON ME LTD 3 years from
01/07/2014
£4,500 Holding Over
4 Ground Floor Industrial
108.70 sq m
(1,170 sq ft)
EAST ANGLIA
SWIFT TRANSPORT
LTD
5 years from
06/09/2017 (2)
£5,200 (05/09/2022)
5 Ground Floor Industrial
108.81 sq m
(1,171 sq ft)
INDIVIDUAL
t/a DKM Services
3 years from
01/07/2013 (3)
£4,500 Holding Over
6 Ground Floor Industrial
108.64 sq m
(1,169 sq ft)
INDIVIDUAL
t/a Peels 4 U
5 years from
02/04/2015 (4)
£4,500 (24/03/2020)
7 Ground Floor Industrial
108.70 sq m
(1,170 sq ft)
ONLINE
LUBRICANTS
LIMITED
5 years from
07/11/2016
£5,000 (06/11/2021)
8 & 9 Ground Floor Industrial
216.92 sq m
(2,335 sq ft)
MANPOWER
ELECTRICAL
SERVICES LTD
6 years from
14/05/2018
£10,000 14/05/2021
(13/05/2024)
10 & 11 Ground Floor
Mezzanine
Industrial
Storage
218.23 sq m
47.97 sq m
(2,349 sq ft)
(516 sq ft)
ABLE CRANES LTD 5 years from
25/03/2019
£10,000 (24/03/2024)
Totals

 
1,244.07 sq m
(13,390 sq ft)
    £53,450  

(1) As to units 1 and 2, the lease provides for a rolling option to determine. The tenant has served notice to determine the lease on 22nd February 2020. Heads of Terms have been drafted for a new lease to an individual bespoke joinery company for a term of six years, with a tenant option to determine the lease at the end of the third year, at a proposed rent of £10,000 per annum exclusive.
(2) As to unit 4, the tenant has not exercised their option to determine in June 2020.
(3) As to unit 5, the lease provides for an annual option to determine.
(4) As to unit 6, the tenant has served notice to determine the lease on 24th March 2020.

If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Property Documents

  • Catalogue Page
    Updated Date
    22.01.20
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    22.01.20
    File Size
    430 KB
    View PDF
  • Common Auction conditions
    Updated Date
    10.06.21
    File Size
    168 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Associate Auctioneers
Rowan Mason 01284 700700rowan@merrifields.co.uk
Seller's Solicitors
Womble Bond Dickinson LLP Ballard House, West Hoe Road
Plymouth
PL1 3AE
Jackie Gale 0345 415 0000jackie.gale@wbd-uk.com

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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