Major Builders Merchants/Distribution Warehouse Investment
Prominent location in well established trade counter/industrial location
Majority let to SIG Trading Limited
Warehouse & Office of 61,539 sq ft
Site Area of 4 Acres with 30% site coverage
6 miles from the A1/A14 interchange
VAT-free investment
Lot 17
Auction 23rd September 2020
Rent £241,750 per Annum Exclusive
Status Withdrawn Prior
Price
Sector Industrial, Warehouse
Auction Venue Live Streamed Auction
Property Information
Location
Miles
1 mile north of St Ives Town Centre
6 miles east of Huntingdon
6 miles from the A1/A14 interchange
14 miles north-west of Cambridge
39 miles east of Northampton and the M1 Motorway
Roads
A1 (M), A14, A141, A10
Rail
Swavesey & Huntingdon Railway Stations
Air
London Stansted, Heathrow and Gatwick
Situation
St Ives is an affluent market town in Cambridgeshire, 6 miles east of Huntingdon and 14 miles north-west of Cambridge. The town benefits from good road links being 6 miles east of the A1/A14 interchange and 39 miles from the M1 motorway. The property is located on Harding Way close to its junction with Somersham Road and the A1123. The A1123 connects Huntingdon to the west with Ely in the east. The property is in a predominantly industrial area approximately 1 mile north of St Ives town centre. Nearby occupiers include HSS Hire, Screwfix and a number of local traders.
Tenure
Freehold.
Location
Miles
1 mile north of St Ives Town Centre
6 miles east of Huntingdon
6 miles from the A1/A14 interchange
14 miles north-west of Cambridge
39 miles east of Northampton and the M1 Motorway
Roads
A1 (M), A14, A141, A10
Rail
Swavesey & Huntingdon Railway Stations
Air
London Stansted, Heathrow and Gatwick
Situation
St Ives is an affluent market town in Cambridgeshire, 6 miles east of Huntingdon and 14 miles north-west of Cambridge. The town benefits from good road links being 6 miles east of the A1/A14 interchange and 39 miles from the M1 motorway. The property is located on Harding Way close to its junction with Somersham Road and the A1123. The A1123 connects Huntingdon to the west with Ely in the east. The property is in a predominantly industrial area approximately 1 mile north of St Ives town centre. Nearby occupiers include HSS Hire, Screwfix and a number of local traders.
Tenure
Freehold.
Description
The property comprises ground and first floor office accommodation together with warehouses, in total providing over 60,000 sq ft, on a site of 4 Acres with an approximate site coverage of 30%. There is on site car parking and a large yard. Unit 5A comprises office accommodation on ground and first floors together with 2 ground floor warehouses. Unit 5B comprises 3 ground floor warehouses with mezzanine. Unit 5C comprises ground floor office accommodation.
VAT
VAT is not applicable to this lot.
EPC
Band D. See legal pack.
Description
The property comprises ground and first floor office accommodation together with warehouses, in total providing over 60,000 sq ft, on a site of 4 Acres with an approximate site coverage of 30%. There is on site car parking and a large yard. Unit 5A comprises office accommodation on ground and first floors together with 2 ground floor warehouses. Unit 5B comprises 3 ground floor warehouses with mezzanine. Unit 5C comprises ground floor office accommodation.
VAT
VAT is not applicable to this lot.
EPC
Band D. See legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Ground First
Warehouse/Office Office
1,366.01 sq m 783.43 sq m
(14,704 sq ft) (8,433 sq ft)
SIG Trading LIMITED (1)
12 years from 23/12/2010
£146,750
(22/12/2022)
Ground Mezzanine
Warehouse Office
3,013.88 sq m 311.86 sq m
(32, 442 sq ft) (3,357 sq ft)
SIG Trading LIMITED (1)
10 years from 23/12/2010 (2)
£95,000
26/10/2023 (26/10/2028 (2))
Ground
Office
241.82 sq m
(2,603 sq ft)
Vacant (3)
Totals
5,717.00 sq m
(61,539 sq ft)
£241,750
(1) For the year ending 31st December 2018, SIG Trading Limited reported a turnover of 1,112,000,000, a pre-tax profit of 2,000,000 and shareholder funds of 260,000,000 (Source: SmartSearch 05/08/2020). SIG trades from 425 trading sites across the UK and Ireland and Mainland Europe. (Source: www.sigplc.com) (2) The lease provides for a tenants option to determine on 26/10/2023 upon 6 months notice. (3) The tenant has only recently vacated the property and previously let at 20,000 per annum.
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.
Contacts
Seller's Solicitors
Machins Solicitors LLP Victoria Street Luton Bedfordshire LU1 2 BS
