Units A & B Hammond Road, Elms Industrial Estate
Bedford
Bedfordshire
MK41 0ND

Detached Freehold Industrial Investment

  • Let to Terinex Limited on a full repairing and insuring lease expiring in September 2034 (no breaks)
  • Modest rent equating to £4.48 psf with fixed rental uplift to £5.73 psf in March 2022
  • 41,009 sq ft (3,810 sq m) on 2.15 acre (0.87 ha) site with secure yard
  • Established Industrial Location, one mile from A421 providing fast access to M1 (J13) and A1
  • Asset management opportunities including possible surrender and profitable re-let
  • Of interest to investors and owner occupiers
  • Low Capital Value of £67 psf
  • Lot
    8
  • Auction
    05/May/2021
  • Rent
    £184,000 per Annum Exclusive
  • Status
    Sold
  • Price*
    £3,200,000
  • Sector
    Industrial/Warehouse
  • Auction Venue
    Live Streamed Auction
  • Units A & B Hammond Road, Elms Industrial Estate<br>Bedford<br>Bedfordshire<br>MK41 0ND
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  • Map

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

Property Information

Location
Miles
3 miles north-east of Bedford
19 miles north-east of Milton Keynes
27 miles west of Cambridge
Roads
A1(M), M1, A6, A421, A4280, A422
Rail
Bedford
Air
Luton Airport
Situation

The property is located on the Elms Industrial Estate, the main industrial area 3 miles north-east of Bedford town centre. The property is situated in a prominent position on the east side of Hammond Road. The A421 dual carriageway is one mile to the east and provides fast access to the M1 motorway (J13) and the A1. Nearby occupiers include Edmundson Electrical, Screwfix, Jas Bowman and PW Gates Distribution.

Tenure

Freehold.

Description

The property is a detached industrial unit of steel portal frame with associated two storey offices at the front. It has an eaves height of 5.6 metres and five level access loading doors. There are approximately 80 car parking spaces and a secure yard area.
The total site extends to approximately 2.15 acres (0.87 ha).

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

D90. See legal pack at www.acuitus.co.uk.

Tenancy & Accommodation

FloorUseGross Internal Floor Areas
(Approx)
TenantTermRent p.a.xReviews
Ground
First
Industrial/Warehouse
Offices
3,464.00 sq m
346.00 sq m
(37,288 sq ft)
(3,721 sq ft)
TERINEX
LIMITED (1)
20 years from
29/09/2014 until
28/09/2034 (2) on a
full repairing and
insuring lease
£184,000
rising to
£235,267 pax
on 25th
March 2022
29/09/2024
29/09/2029
Total
(3,810.00 sq m)
(41,009 sq ft)
  £184,000 

(1) For over 40 years Terinex have been manufacturing and supplying a wide range of catering essentials including Polyester Oven Bags, Baking Parchment, Aluminium Foil, Cling Film and Tissues. In November 2020, part of their business was acquired by Sirane Group (a competitor food manufacturer). For the year ending 31st May 2019, Terinex Limited reported a turnover of £7,234,014, a pre-tax loss of £51,317 and net assets of £4,030,673 (source: dnb.co.uk). Since part of the business was sold, the building has been surplus to their requirements. The tenant is no longer in occupation and is seeking to assign their lease.
(2) The lease was originally let for a term of 15 years from September 2014, but was extended in May 2020 for a further 5 years therefore expiring on 28th September 2034.

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

  • Solicitors Legal Pack
    Updated Date
    29.04.21
    File Size
    41 MB
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  • Catalogue Page
    Updated Date
    16.04.21
    File Size
    1 MB
    View PDF
  • Site Plan
    Updated Date
    16.04.21
    File Size
    663 KB
    View PDF
  • Common Auction conditions
    Updated Date
    16.03.21
    File Size
    687 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
David MargolisDavid Margolis +44 (0)20 7034 4862 +44 (0)7930 484 440david.margolis@acuitus.co.uk
George GoucherGeorge Goucher +44 (0)20 7034 4860george.goucher@acuitus.co.uk
Associate Auctioneers
Brown & Lee 15 Shirwell Cres, Furzton
Milton Keynes
MK4 1GA
Richard Last 07921 166 595richard.last@brownandlee.com
Seller's Solicitors
Shepherd and Wedderburn LLP Condor House, 10 St. Paul's Churchyard
London
EC4M 8AL
Gabby Ives 020 7429 4956gabby.ives@shepwedd.com

Useful Links

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