Let to Easypack/Pop Displays Group Limited with a guarantee from Fencor Packaging Group Limited
10 year lease from December 2020 expiring December 2030 (no breaks)
Self-contained unit comprising 21,365 sq ft - part of a larger parade occupied by the same tenant
Tenant recently expanded into both Units 2 & 3; both let on new unbroken 10 year leases from December 2020
Nearby occupiers include 5 Star Cases & Stream Foods (part of Pepsico), Edwards Motorsport, Harrington Nurseries and Walsoken MOT's
Low Capital Value on Guide Price - less than £35 psf
Lot 11
Auction 11th February 2021
Rent £60,000 per Annum Exclusive
Status Sold
Price £755,000
Sector Industrial/Warehouse
Auction Venue Live Streamed Auction
On Behalf of Trustees
Property Information
Location
Miles
1.5 miles east of Wisbech
12 miles south-west of Kings Lynn
22 miles east of Peterborough
Roads
A47, A1101
Rail
Air
London Stansted
Situation
Wisbech is an attractive market town approximately 22 miles east of Peterborough. The property is located 1.5 miles east of the town, on the north side of Broadend Road, just off the A47 in an established industrial location benefitting from excellent road connections with the A141 leading to A1(M). Nearby occupiers include 5 Star Cases & Stream Foods (part of Pepsico), Edwards Motorsport, Harrington Nurseries and Walsoken MOT's.
Tenure
Freehold.
Location
Miles
1.5 miles east of Wisbech
12 miles south-west of Kings Lynn
22 miles east of Peterborough
Roads
A47, A1101
Rail
Air
London Stansted
Situation
Wisbech is an attractive market town approximately 22 miles east of Peterborough. The property is located 1.5 miles east of the town, on the north side of Broadend Road, just off the A47 in an established industrial location benefitting from excellent road connections with the A141 leading to A1(M). Nearby occupiers include 5 Star Cases & Stream Foods (part of Pepsico), Edwards Motorsport, Harrington Nurseries and Walsoken MOT's.
Tenure
Freehold.
Description
The property comprises a single storey, ground floor industrial unit/warehouse with associated office space. The previous tenant had spent a considerable sum upgrading the property to a food grade industrial property. The current tenant occupies other units on the estate, that do not form part of the sale. The tenant has expanded into Units 2 & 3 as they required additional space having already been in occupation of Units 1.
VAT
VAT is applicable to this lot.
Completion Period
Completion - 24th March
EPC
D. See legal pack at www.acuitus.co.uk.
Description
The property comprises a single storey, ground floor industrial unit/warehouse with associated office space. The previous tenant had spent a considerable sum upgrading the property to a food grade industrial property. The current tenant occupies other units on the estate, that do not form part of the sale. The tenant has expanded into Units 2 & 3 as they required additional space having already been in occupation of Units 1.
VAT
VAT is applicable to this lot.
Completion Period
Completion - 24th March
EPC
D. See legal pack at www.acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Ground
Warehouse/ Industrial/ Office
1,984.86 sq m
(21,365 sq ft)
EASYPACK/POP DISPLAYS GROUP LIMITED with a guarantee from FENCOR PACKAGING GROUP LIMITED (1)
10 years from 25/12/2020 until 24/12/2030 on a full repairing and insuring lease (2)
£60,000
Total
1,984.86 sq m
(21,365 sq ft)
£60,000
(1) Easypack Pop Displays is part of the Fencor Packaging Group Limited; a packaging business who are the UK's largest independent temporary 3D display manufacturer, with clients including Tesco and Marks & Spencer (www.easypack.co.uk). For the year ending 31/03/2020, Fencor Packaging Group Limited reported a turnover of £18,762,817, pre-tax profits of £1,006,824 and total assets of £11,186,333 (NorthRow 15/12/2020). (2) The lease is full repairing and insuring, subject to a Schedule of Condition. The lease is drawn outside the Security of Tenure provisions of the 1954 Landlord & Tenant Act.
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.
