Substantial Freehold Industrial and Office Headquarters Building
Popular industrial/office location adjacent to London Southend Airport
Three detached buildings totalling
8,388 sq m (90,290 sq ft) on site area of approximately 3.84 acres (1.55 hectares)
Unit 1 and office block let to Hi-Tec Europe Limited
Hi-Tec in occupation since 1986
Recently renewed leases from October 2019 with increased rents on renewal
Mutual options to determine the leases (2)
Asset management potential including letting the recently vacated warehouse (Unit 2)
Nearby occupiers include Ipeco, Booker, Volkswagen, Citroen, Renault, Nissan and Jaguar Landrover
Lot 13
Auction 12th February 2020
Rent £385,000 per Annum Exclusive
Status Withdrawn Prior
Price
Sector Industrial, Warehouse
Auction Venue The Montcalm Hotel 2 Wallenberg Place Marble Arch London W1H 7TN
On the Instructions of Joint Administrators at Smith & Williamson <br />Instructions of Joint Administrators at
Property Information
Location
Miles
2 miles north of Southend-on-Sea
18 miles south-east of Chelmsford
38 miles east of Central London
Roads
A13, A127, A130
Rail
Southend Airport Train Station
Air
London Southend
Situation
Southend-on-Sea is a popular tourist destination and important commercial town located 38 miles east of Central London and 18 miles south-east of Chelmsford. The property is located on the western side of Aviation Way, in a predominantly industrial location, directly opposite London Southend Airport's perimeter and less than two miles from the terminal building and Southend Airport Railway Station. Southend Airport is London's newest airport, with rail services from London Liverpool Street running every 10 minutes at peak times. Today, it is one of the UK's fastest growing regional airports serving almost one million passengers every year and a new, larger passenger terminal opened in 2014. The property benefits from an excellent road network being less than a mile north of the A127, which in turn leads to junction 29 of the M25 motorway.
Tenure
Freehold.
Location
Miles
2 miles north of Southend-on-Sea
18 miles south-east of Chelmsford
38 miles east of Central London
Roads
A13, A127, A130
Rail
Southend Airport Train Station
Air
London Southend
Situation
Southend-on-Sea is a popular tourist destination and important commercial town located 38 miles east of Central London and 18 miles south-east of Chelmsford. The property is located on the western side of Aviation Way, in a predominantly industrial location, directly opposite London Southend Airport's perimeter and less than two miles from the terminal building and Southend Airport Railway Station. Southend Airport is London's newest airport, with rail services from London Liverpool Street running every 10 minutes at peak times. Today, it is one of the UK's fastest growing regional airports serving almost one million passengers every year and a new, larger passenger terminal opened in 2014. The property benefits from an excellent road network being less than a mile north of the A127, which in turn leads to junction 29 of the M25 motorway.
Tenure
Freehold.
Description
The property comprises two substantial single storey industrial buildings (Units 1 & 2) and a three storey office building which is inter-connected to Unit 1 at ground floor level. The offices benefit from parking for about 34 cars and the total site provides an area of approximately 3.84 acres
(1.55 hectares).
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale by the Company acting by the Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given.
The information in these particulars has been provided by the Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries.
The Administrators are not bound to accept the highest or any offer and are acting as agents of the Company in respect of this sale without personal liability.
EPC
Available from the legal pack at acuitus.co.uk
Description
The property comprises two substantial single storey industrial buildings (Units 1 & 2) and a three storey office building which is inter-connected to Unit 1 at ground floor level. The offices benefit from parking for about 34 cars and the total site provides an area of approximately 3.84 acres
(1.55 hectares).
VAT
VAT is applicable to this lot.
Note
This property is being marketed for sale by the Company acting by the Administrators and therefore no warranties or guarantees in any respect, including VAT, can be given.
The information in these particulars has been provided by the Administrators to the best of their knowledge, but the purchaser must rely solely upon their own enquiries.
The Administrators are not bound to accept the highest or any offer and are acting as agents of the Company in respect of this sale without personal liability.
EPC
Available from the legal pack at acuitus.co.uk
Tenancy & Accommodation
Unit
Floor
Use
Gross Internal Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reviews
Unit 1
Ground
Industrial/ Warehouse
4,811.87 sq m
(51,795 sq ft)
HI-TEC EUROPE LIMITED (1)
13 years from 01/04/2019 until 31/03/2032 (2) on a full repairing and insuring lease (2)
£249,800
30/04/2022 30/04/2027
Office
Ground First Second
Office/ Ancillary
356.65 sq m 445.47 sq m 309.92 sq m
(3,839 sq ft) (4,795 sq ft) (3,336 sq ft)
HI-TEC EUROPE LIMITED (1)
13 years from 01/04/2019 until 31/03/2032 (2) on a full repairing and insuring lease (2)
£135,200
30/04/2022 30/04/2027
Unit 2
Ground
Industrial/ Warehouse
2,464.23 sq m
(26,525 sq ft)
VACANT
-
-
-
Total
8,388.14 sq m
(90,290 sq ft)
£385,000
(1) For the year ending 31st December 2018, Hi-Tec Europe Limited reported a turnover of £25,850,327, pre-tax profits of £780,043 and a total net worth of £677,720 (Source: Experian Group 09/01/2020). Hi-Tec operates from over 230 stores throughout the UK and Europe (hi-tec.co.uk 09/01/2020). (2) There are mutual options to determine the lease on 31/03/2022 and 31/03/2027 upon the tenant serving no less than six months' notice before the break and upon the landlord serving no less than seven months' notice before the break. The lease is full repairing and insuring subject to a Schedule of Condition.
If you are the successful bidder, Acuitus requires a separate payment of £1,500+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
