Northdown Industrial Park Northdown Road, St Peters Broadstairs Kent CT10 3JP

Northdown Industrial Park
Northdown Road, St Peters
Broadstairs
Kent
CT10 3JP

Freehold Multi-let Industrial Investment

Includes 12 industrial units and office building
100% Let with No Breaks
Site Approximately 0.893 hectares (2.206 acres)
Site coverage approximately 48%
Car parking
Long term residential redevelopment, subject to consents

Lot
12
Auction
28th October 2020
Rent
£240,350 per Annum Exclusive
Status
Sold
Price
£2,840,000
Sector
Industrial/Warehouse
Auction Venue
Live Streamed Auction

Expand
Photos
Map

Freehold Multi-let Industrial Investment

Includes 12 industrial units and office building
100% Let with No Breaks
Site Approximately 0.893 hectares (2.206 acres)
Site coverage approximately 48%
Car parking
Long term residential redevelopment, subject to consents

Lot 12
Auction 28th October 2020
Rent £240,350 per Annum Exclusive
Status Sold
Price £2,840,000
Sector
Industrial/Warehouse
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 2.5 miles north of Ramsgate; 17 miles north-east of Canterbury; 70 miles south-east of Central London
Roads: B2053, A256, A299, A2, M2
Rail: Broadstairs Railway Station
Air: Gatwick Airport

Situation

The property is situated in a predominantly residential area approximately 1 mile north of Broadstairs town centre and railway station.

Tenure

Freehold.

Location

Miles: 2.5 miles north of Ramsgate; 17 miles north-east of Canterbury; 70 miles south-east of Central London
Roads: B2053, A256, A299, A2, M2
Rail: Broadstairs Railway Station
Air: Gatwick Airport

Situation

The property is situated in a predominantly residential area approximately 1 mile north of Broadstairs town centre and railway station.

Tenure

Freehold.

Description

The property comprises a rectangular shaped and level site of approximately 0.893 hectares (2.206 acres) upon which is an industrial building separated into 12 units and a two storey office building. The property benefits from a site coverage of approximately 48%. The industrial units have an approximate eaves height of between 3.5 and 6 metres (12 ft and 19ft). The property benefits from car parking and may benefit from long term residential redevelopment subject to consents.

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

See legal pack.

Description

VAT

VAT is applicable to this lot.

Completion Period

Six week completion

EPC

See legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reviews/(Reversion)
1	Ground	Industrial	453.08 sq m	(4,877 sq ft)	SOUTH EAST BOTTLING LTD (1)	10 years from 27/01/2020	£23,000	26/01/2025 (26/01/2030)
2	Ground	Industrial	274.80 sq m	(2,958 sq ft)	SOUTH EAST BOTTLING LTD (1)	10 years from 27/01/2020	£17,500 (5)	26/01/2025 (26/01/2030)
3	Ground	Industrial	297.93 sq m	(3,207 sq ft)	SOUTH EAST BOTTLING LTD (1)	10 years from 27/01/2020	£17,500 (5)	26/01/2025 (26/01/2030)
4	Ground	Industrial	301.46 sq m	(3,245 sq ft)	SOUTH EAST BOTTLING LTD (1)	10 years from 27/01/2020	£17,500 (5)	26/01/2025 (26/01/2030)
5	Ground	Industrial	466.73 sq m	(5,024 sq ft)	MICHAELS WHOLESALE FOODS LIMITED (2)	5 years from 10/01/2016	£24,500	(30/09/2021)
6	Ground	Industrial	502.96 sq m	(5,414 sq ft)	MICHAELS WHOLESALE FOODS LIMITED (2)	5 years from 10/01/2016	£26,500	(30/09/2021)
7	Ground	Industrial	298.58 sq m	(3,214 sq ft)	MICHAELS WHOLESALE FOODS LIMITED (2)	5 years from 10/01/2016	£16,000	(30/09/2021)
8	Ground	Industrial	297.19 sq m	(3,199 sq ft)	PC SALES AND INVESTMENTS LIMITED (3)	3 years from 02/11/2019	£16,850	(01/11/2022)
9	Ground	Industrial	326.82 sq m	(3,518 sq ft)	AQUAREAD LIMITED (4)	5 years from 27/11/2019	£19,500	(26/11/2024)
10	Ground	Industrial	554.24 sq m	(5,966 sq ft)	PC SALES AND INVESTMENTS LIMITED (3)	5 years from 10/01/2017	£28,500	(09/01/2022)
11	Ground	Industrial	27.87 sq m	(300 sq ft)	AQUAREAD LIMITED (4)	5 years from 09/01/2019	£3,000	(08/01/2024)
12 Bridge House	Ground Ground	Industrial Office	445.92 sq m 345.22 sq m	(4,800 sq ft) (3,716 sq ft)	AQUAREAD LIMITED (4)	5 years from 09/01/2019	£30,000	(08/01/2024)
Total			4592.80 sq m	(49,438 sq ft)			£240,350 (5)

(1) For the year ending 31st December 2018, South East Bottling Limited reported total assets of £823,595, a working capital of negative £153,753 and shareholders funds of £67,352 (Source: SmartSearch 29/09/2020).
(2) For the year ending 31st October 2019, Michaels Wholesale Foods Limited reported total assets of £692,491, a working capital of £87,095 and shareholders funds of £125,914 (Source: SmartSearch 29/09/2020).
(3) For the year ending 28th February 2019, PC Sales and Investments Limited reported total assets of £185,388, working capital of £31,863 and shareholders funds of £82,616 (Source:SmartSearch 29/09/2020).
(4) For the year ending 31st October 2019, Aquaread Limited reported a total turnover of £2,029,835, pre-tax profits of £332,976 and shareholders funds of £550,093 (Source: SmartSearch 29/09/2020).
(5) As to Units 2, 3 and 4. The current rents reserved under the terms of the lease is £15,000 per annum exclusive per unit. The leases provide for the rents to be increased to £17,500 per annum exclusive per unit in August 2021 for each unit. The seller will pay the buyer the difference between the current rents reserved and £17,500 per annum exclusive from the completion of the sale to 27th August 2021.Therefore the property will produce a total of £240,350 per annum exclusive from the completion of the sale.

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.