Let to Travis Perkins (Properties) Ltd until November 2031 (No Breaks)
5 yearly upward only rent reviews to a minimum of 3% per annum compounded
Rent rising to a minimum of £97,666.52 in 2027
Tenant option to renew for 25 years (2)
Gross Internal Floor Area of 893.00 sq m (9,612 sq ft)
Approx. site area of 0.31 Ha (0.76 Acres)
Established industrial estate location
Future option to purchase Freehold for £1 (see legal pack)
Lot 10
Auction 2nd November 2023
Rent £84,248 per Annum Exclusive
Status Sold
Price £1,240,000
Sector Trade Counter
Auction Venue Live Streamed Auction
On Behalf of a Major Investment Manager
Property Information
Location
Miles
11 miles east of Cambridge, 55 miles north-east of London, 45 miles south-west of Norwich
Roads
A14, A11, M11
Rail
Newmarket Railway Station
Air
London Stansted Airport
Situation
Newmarket is an affluent, attractive and historic Suffolk market town, internationally renowned for its strong connections with the horse racing industry. Located on the A14, Newmarket benefits from excellent communications with easy access to the national motorway network.
The property is situated in the well established Studlands Park Industrial Estate on the corner of Studlands Park Avenue and Willie Snaith Road. Nearby occupiers include Kwik Fit, Screwfix, Howdens, Homebase and Wickes.
Tenure
Long Leasehold. Held for a term of 200 years from 01/12/2006 at a peppercorn ground rent. The lease provides an option to purchase the Freehold for £1 + VAT, subject to conditions being satisfied. Please refer to the legal pack for further information.
Location
Miles
11 miles east of Cambridge, 55 miles north-east of London, 45 miles south-west of Norwich
Roads
A14, A11, M11
Rail
Newmarket Railway Station
Air
London Stansted Airport
Situation
Newmarket is an affluent, attractive and historic Suffolk market town, internationally renowned for its strong connections with the horse racing industry. Located on the A14, Newmarket benefits from excellent communications with easy access to the national motorway network.
The property is situated in the well established Studlands Park Industrial Estate on the corner of Studlands Park Avenue and Willie Snaith Road. Nearby occupiers include Kwik Fit, Screwfix, Howdens, Homebase and Wickes.
Tenure
Long Leasehold. Held for a term of 200 years from 01/12/2006 at a peppercorn ground rent. The lease provides an option to purchase the Freehold for £1 + VAT, subject to conditions being satisfied. Please refer to the legal pack for further information.
Description
The property comprises a ground floor trade counter / warehouse with office accommodation plus mezzanine level and yard areas. The property has a total floor area of 893.00 sq m (9,612 sq ft) upon a site area of 0.31 Ha (0.76 Acres), benefitting from a low site coverage of 24%.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a ground floor trade counter / warehouse with office accommodation plus mezzanine level and yard areas. The property has a total floor area of 893.00 sq m (9,612 sq ft) upon a site area of 0.31 Ha (0.76 Acres), benefitting from a low site coverage of 24%.
VAT
VAT is applicable to this lot.
Completion Period
Six week completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
25 years from 01/12/2006 until 30/11/2031 on a full repairing and insuring lease (subject to a schedule of condition) (2)
£84,248
01/12/2027 (3)
Total
893.00
(9,612)
£84,248
(1) Travis Perkins (Properties) Ltd is wholly owned by Travis Perkins PLC. Travis Perkins is the UK's largest distributor of building materials with a network of over 500 branches and has been helping build Britain for over 200 years (www.travisperkinsplc.co.uk). (2) The lease provides the tenant an option to renew the lease on expiry for a further 25 years at market rent, but otherwise on identical lease terms including the rent review basis. Full information is available within the legal pack. (3) The rent reviews are upwards only to the higher of two thirds of Market Rent (as defined in the lease) or the annual rent payable increased by 3% per annum compounded annually. For further information please refer to the lease available in the legal pack.
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.
