Tenancy & Accommodation
Floor |
Use |
Floor Areas Approx sq m (GIA) |
Floor Areas Approx sq ft (GIA) |
Tenant |
Term |
Rent p.a.x. |
Rent Review |
Ground Mezzanine |
Industrial/ Office Store |
3,988.38 20.72 |
(42,930) (224) |
SUSSEX TURNERY AND MOULDING COMPANY LIMITED (T/A HOPPINGS) (1) (2) WITH GUARANTEE FROM GRANT & STONE LTD (3) |
15 years from 24/06/2022 on a full repairing and insuring lease (subject to a Schedule of Condition) |
£275,000 |
2027 & 2032 with Minimum Uplifts (4) |
Total |
|
4,009.10 |
(43,154) |
|
|
£275,000 rising to a Minimum of £311,137 in 2027 and £352,023 in 2032 |
|
(1) Hoppings specialise in the importation, manufacture/processing, treatment, and distribution of quality sustainable softwood timber products. The company was Incorporated in 1930 and first commenced trading in 1920 in Whetstone, North London. (Source: www.hoppings.co.uk 22/06/2022)
(2) For the year ended 31/12/2020, Sussex Turnery and Moulding Company Limited (STAMCO) reported a Turnover of £28,257,888, a Pre-Tax Profit of £1,280,456 and a Net Worth of £7,890,911. (Source: NorthRow 22/06/2022)
(3) Grant and Stone Ltd and Independent Builders Merchants Group Ltd were merged in September 2021 under common ownership and management. The group has annual revenues of £650 million and employs over 2,200 staff from 170 plus branches in the South of England. (Source: www.independentbm.com)
For the year ended 31/12/2020 Grant & Stone Limited reported Turnover of £59,297,183, a Pre-Tax Profit of £4,255,419 and Total Shareholders Equity of £24,165,969. (NorthRow 16/06/2022)
(4) The rent reviews are upwards only to the higher of market rent (as defined in the lease) or the annual rent payable increased by 2.5% per annum compounded annually. For further information please refer to the lease available in the legal pack.