City Plumbing Unit 2, Millfield Industrial Estate Chard Somerset TA20 2BB

City Plumbing
Unit 2, Millfield Industrial Estate
Chard
Somerset
TA20 2BB

Freehold Trade Counter Investment

Substantial Trade Counter and Warehouse Let to City Plumbing Supplies Holdings Ltd
Recently renewed lease expiring November 2033 (subject to option)
Tenant in occupation for over 25 years
Floor Area of approx. 1,144.38 sq m (12,318 sq ft)
Approx. site area of 0.23 Ha (0.56 Acres)
Established Industrial Estate Location close to A30 and A358

Lot
4
Auction
15th February 2024
Rent
£74,000 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
Live Streamed Auction
On Behalf of a Major Asset Manager

Important Update Interested?

Expand
Photos
Map

Freehold Trade Counter Investment

Substantial Trade Counter and Warehouse Let to City Plumbing Supplies Holdings Ltd
Recently renewed lease expiring November 2033 (subject to option)
Tenant in occupation for over 25 years
Floor Area of approx. 1,144.38 sq m (12,318 sq ft)
Approx. site area of 0.23 Ha (0.56 Acres)
Established Industrial Estate Location close to A30 and A358

Lot 4
Auction 15th February 2024
Rent £74,000 per Annum Exclusive
Status Sold Prior
Price
Sector
Trade Counter/Builders Merchants
Auction Venue
Live Streamed Auction
On Behalf of a Major Asset Manager

Property Information

Location

Miles: 13 miles south-east of Taunton, 30 miles north-east of Exeter, 53 miles south-west of Bristol
Roads: M5, A303, A358
Rail: Axminster Railway Station
Air: Exeter Airport, Bristol Airport

Situation

Chard is an attractive town located on the edge of the Blackdown Hills which is in an Area of Outstanding Natural Beauty. The property is situated just east of the town centre on Millfield Industrial Estate, an established industrial location. Nearby occupiers include Numatic International, Tesco Superstore, Lidl and several motor dealerships and trade counters.

Tenure

Freehold.

Location

Miles: 13 miles south-east of Taunton, 30 miles north-east of Exeter, 53 miles south-west of Bristol
Roads: M5, A303, A358
Rail: Axminster Railway Station
Air: Exeter Airport, Bristol Airport

Situation

Tenure

Freehold.

Description

The property comprises a ground floor trade counter / warehouse with first floor office together with mezzanine ancillary accommodation. There is customer car parking to the front of the site and a goods yard to the rear. The property has a total floor area of 1,144.38 sq m (12,318 sq ft) upon a site area of 0.23 Ha (0.56 Acres).

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas Approx sq m	Floor Areas Approx sq ft	Tenant	Term	Rent p.a.x.	Rent Review
Ground Ground Mezzanine First	Trade Counter/Warehouse Office Ancillary Office	803.62 44.31 250.93 45.52	(8,650) (477) (2,701) (490)	CITY PLUMBING SUPPLIES HOLDINGS LTD (1)	10 years from 28/11/2023 until 27/11/2033 (2) (3)	£74,000	28/11/2028
Total		1,1144.38	(12,318)			£74,000

(1) City Plumbing Supplies Holdings Ltd was established in 1990 and operate from a network of over 360 branches across the UK (www.cityplumbing.co.uk). City Plumbing is wholly owned by Highbourne Group Limited and for the year ending 31/12/2022 reported a Turnover of £1,324,200,000, a Pre-Tax Profit of £48,100,000 and a Net Worth of £81,800,000 (NorthRow 08/01/2024).
(2) The lease provides for a rent free period until 10/06/2024. The Seller will pay to the Buyer the rent that would have been due from completion of the sale until the end of the rent free period.
(3) The lease provides for a tenant option to determine the lease on 28/11/2028 upon serving 6 months written notice. The tenant will benefit from a rent free period until 10/06/2028 (approximately 6 months and 2 weeks) if the break option is not exercised. Please see the lease for further detail.

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.