45 Tan Bank Wellington Telford Shropshire TF1 1HW

45 Tan Bank
Wellington
Telford
Shropshire
TF1 1HW

Freehold Dental Surgery Investment

Let to Whitecross Dental Care Limited with a guarantee from Integrated Dental Holdings Limited
15 year lease renewal from 22nd July 2021
(Subject to option at year 10)
Re-based rent
Rent rising to £31,679.43 pa in July 2026 and to £35,842.37 pa in July 2031
450 metres south of Wellington Railway Station
VAT-free Dental Surgery Investment

Lot
26
Auction
24th September 2021
Rent
£28,000 per Annum Exclusive
Status
Sold
Price
£558,000
Auction Venue
Live Streamed Auction

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Freehold Dental Surgery Investment

Let to Whitecross Dental Care Limited with a guarantee from Integrated Dental Holdings Limited
15 year lease renewal from 22nd July 2021
(Subject to option at year 10)
Re-based rent
Rent rising to £31,679.43 pa in July 2026 and to £35,842.37 pa in July 2031
450 metres south of Wellington Railway Station
VAT-free Dental Surgery Investment

Lot 26
Auction 24th September 2021
Rent £28,000 per Annum Exclusive
Status Sold
Price £558,000
Sector
Medical Centre/Doctors, Healthcare
Auction Venue
Live Streamed Auction

Property Information

Location

Miles: 10 miles east of Shrewsbury; 32 miles north-west of Birmingham
Roads: M54, A5223
Rail: Wellington Railway Station
Air: Birmingham International Airport

Situation

The property is located in Wellington, 4 miles north-west of Telford, 10 miles east of Shrewsbury and 32 miles north-west of Birmingham. The property is located on the east side of Tan Bank, close to the centre of Wellington. The property benefits from good access being approximately 450 metres south of Wellington Railway Station and close to J6 of the M54 motorway.

Tenure

Freehold.

Location

Miles: 10 miles east of Shrewsbury; 32 miles north-west of Birmingham
Roads: M54, A5223
Rail: Wellington Railway Station
Air: Birmingham International Airport

Situation

Tenure

Freehold.

Description

The property comprises a dental surgery arranged on the ground and first floors. The property also benefits from on site car parking on a large site..

VAT

VAT is not applicable to this lot.

Note

Please note the buyer will pay 1% plus VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

Six Week Completion

EPC

Band E. See legal pack.

Description

The property comprises a dental surgery arranged on the ground and first floors. The property also benefits from on site car parking on a large site..

VAT

VAT is not applicable to this lot.

Note

Please note the buyer will pay 1% plus VAT of the purchase price towards the Vendor's costs in addition to the cost of the searches. Please see Special Conditions of Sale.

Completion Period

Six Week Completion

EPC

Band E. See legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x
Ground First	Dental Surgery Dental Surgery	100.80 sq m 110.30 sq m	(1,085 sq ft) (1,187 sq ft)	WHITECROSS DENTAL CARE LIMITED with a guarantee from INTEGRATED DENTAL HOLDINGS LIMITED (2)	15 years from 22/07/2021 until 21/07/2036 (3) on a full repairing and insuring lease (4)	£28,000 rising to £31,679.43 in July 2026 and rising to £35,842.37 in July 2031
Total		211.10 sq m	(2,272 sq ft) (1)			£28,000 (with fixed rental uplifts every 5 years)

(1) Floor areas provided by the Valuation Office Agency (www.gov.uk).
(2) For the year ending 31st March 2019, Whitecross Dental Care limited reported a turnover of £166,771,000, a pre-tax profit of negative £56,039,000 and shareholder funds of £5,341,000. Integrated Dental Holdings Limited did not report a turnover or pre-tax profit, but reported a total net worth of £18,263,000 (Source: NorthRow 27/07/2021).
(3) The lease provides for a tenant option to determine the lease at the expiry of the 10th year on 22/07/2031.
(4) The lease is full repairing & insuring, subject to a Schedule of Condition.

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.