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
    28/Oct/2020
  • Rent
    £240,350 per Annum Exclusive
  • Status
    Sold
  • Price*
    £2,840,000
  • Sector
    Industrial/Warehouse
  • Auction Venue
    Live Streamed Auction
  • Northdown Industrial Park<br>Northdown Road, St Peters<br>Broadstairs<br>Kent<br>CT10 3JP
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  • Map

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

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.

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.

Tenancy & Accommodation

UnitFloorUseFloor Areas (Approx)TenantTermRent p.a.xReviews/(Reversion)
1GroundIndustrial
453.08 sq m
(4,877 sq ft)
SOUTH EAST
BOTTLING LTD (1)
10 years from 27/01/2020£23,00026/01/2025
(26/01/2030)
2GroundIndustrial274.80 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)
3GroundIndustrial297.93 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)
4GroundIndustrial301.46 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)
5GroundIndustrial466.73 sq m(5,024 sq ft)MICHAELS
WHOLESALE FOODS
LIMITED (2)
5 years from 10/01/2016£24,500(30/09/2021)
6GroundIndustrial502.96 sq m(5,414 sq ft)MICHAELS
WHOLESALE FOODS
LIMITED (2)
5 years from 10/01/2016£26,500(30/09/2021)
7GroundIndustrial298.58 sq m(3,214 sq ft)MICHAELS
WHOLESALE FOODS
LIMITED (2)
5 years from 10/01/2016£16,000(30/09/2021)
8GroundIndustrial297.19 sq m(3,199 sq ft)PC SALES AND
INVESTMENTS
LIMITED (3)
3 years from 02/11/2019£16,850(01/11/2022)
9GroundIndustrial326.82 sq m(3,518 sq ft)AQUAREAD LIMITED
(4)
5 years from 27/11/2019£19,500(26/11/2024)
10GroundIndustrial554.24 sq m(5,966 sq ft)PC SALES AND
INVESTMENTS
LIMITED (3)
5 years from 10/01/2017£28,500(09/01/2022)
11GroundIndustrial27.87 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 £1,000 inclusive of VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.

Due to the current restrictions in movement throughout the UK, the property may not have been inspected by Acuitus. Some photographs may not be current and these will be dated where this is the case. Plans showing nearby occupiers and mention of nearby occupiers may reflect a dated situation as some tenants are not currently in occupation. Floor areas and accommodation details are likely to have been obtained from VOA.Gov.UK and the Vendor.

Property Documents

  • Site Plan
    Updated Date
    07.10.20
    File Size
    893 KB
    View PDF
  • Catalogue Page
    Updated Date
    12.10.20
    File Size
    1 MB
    View PDF
  • Common Auction conditions
    Updated Date
    01.07.20
    File Size
    277 KB
    View PDF
  • Memorandum of Sale
    Updated Date
    27.03.17
    File Size
    27 KB
    View PDF
  • Money Laundering Regs
    Updated Date
    07.10.20
    File Size
    1,016 KB
    View PDF
  • Customer Due Dilligence Form
    Updated Date
    20.05.20
    File Size
    585 KB
    View PDF

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060519john.mehtab@acuitus.co.uk
Billy StruthBilly Struth +44 (0)20 7034 4854billy.struth@acuitus.co.uk
Seller's Solicitors
Russell Cooke Potter & Chapman 8 Bedford Row
London
WC1R 4BX
Clare Thompson 0207 440 4829clare.thompson@russell-cooke.co.uk

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