4 Light Industrial Units each with Vehicle Access Loading Doors
Tenants trading as a MOT Test Centre, a Delivery Food Preparation Kitchen and a Concrete Testing Engineers
Approximately 6,629 sq ft (615.89 sq m)
Site Area of Approximately 0.115 Hectares (0.285 Acres) with a Site Coverage of 40%
Established Industrial Estate Location
VAT-Free Investment
Lot 29
Auction 9th May 2024
Rent Gross: £92,000 per Annum Exclusive Net: £84,500 rising to £94,000 (3)(4)
Status Withdrawn Prior
Price
Sector Industrial/Warehouse
Auction Venue Live Streamed Auction
On Behalf of Trustees
Property Information
Location
Miles
1 mile south-east of Woking, 4 miles north of Guildford, 20 miles south-west of Central London
Roads
A247, B382, A3
Rail
Woking Railway Station (25 mins to London Waterloo)
Air
London Heathrow Airport, London Gatwick Airport
Situation
The property is situated on a well established industrial estate in a predominantly residential area approximately 1 mile south-east from Woking Town Centre.
Tenure
Leasehold. Held from Woking Borough Council for a period of 99 years from 29/09/1962 at a rent reserved of £7,500 per annum exclusive. A Deed of Variation to the lease provides for the rent to be reviewed on an upwards only basis every 5 years, to be the higher of the current rent or 10% of the open market rent achievable for the site. The 2023 rent review is currently outstanding.
Location
Miles
1 mile south-east of Woking, 4 miles north of Guildford, 20 miles south-west of Central London
Roads
A247, B382, A3
Rail
Woking Railway Station (25 mins to London Waterloo)
Air
London Heathrow Airport, London Gatwick Airport
Situation
The property is situated on a well established industrial estate in a predominantly residential area approximately 1 mile south-east from Woking Town Centre.
Tenure
Leasehold. Held from Woking Borough Council for a period of 99 years from 29/09/1962 at a rent reserved of £7,500 per annum exclusive. A Deed of Variation to the lease provides for the rent to be reviewed on an upwards only basis every 5 years, to be the higher of the current rent or 10% of the open market rent achievable for the site. The 2023 rent review is currently outstanding.
Description
The property comprises 4 steel portal framed industrial units. Each unit benefits from an eaves height of approximately 4m (13 ft) and a vehicle access loading door. The property also benefits from 24 marked car parking spaces and a site area of approximately 0.115 hectares (0.285 acres) with a site coverage of 40%.
VAT
VAT is not applicable to this lot.
Note
In accordance with Section 21 of the Estate Agents Act 1979 we declare that there is a personal interest in the property. The property is being sold by a member of staff within the Selling agents company.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises 4 steel portal framed industrial units. Each unit benefits from an eaves height of approximately 4m (13 ft) and a vehicle access loading door. The property also benefits from 24 marked car parking spaces and a site area of approximately 0.115 hectares (0.285 acres) with a site coverage of 40%.
VAT
VAT is not applicable to this lot.
Note
In accordance with Section 21 of the Estate Agents Act 1979 we declare that there is a personal interest in the property. The property is being sold by a member of staff within the Selling agents company.
Completion Period
Six Week Completion
EPC
The EPC will be available to view online in the solicitor’s legal pack.
TESTING AND CONSULTANCY SERVICES LIMITED (CRN: 03673506)
5 years from 05/12/2022 (3)
£23,500 rising to £24,500 (3)
(04/12/2027)
Unit 5D
Ground First
Industrial Industrial
109.00 53.76
(1,173) (579)
TESTING AND CONSULTANCY SERVICES LIMITED (CRN: 03673506)
5 years from 05/12/2022 (4)
£24,500 rising to £25,500 (4)
(04/12/2027)
Total Approximate Floor Area
672.15
(7,235)
£92,000 rising to £94,000 (3) (4)
(1) The above floor areas stated are from the Valuation Office Agency (https://www.gov.uk/find-business-rates) (2) As to unit 5B, the lease provides for a tenant option to determine the lease on 05/04/2029 and 05/04/2034 subject to 6 months notice (3) As to unit 5C, the lease provides for a tenant option to determine the lease on 05/12/2025 subject to six months notice. In addition, the rent increases from £23,500 per annum exclusive to £24,500 per annum exclusive on 05/12/2025 until 04/12/2027. (4) As to unit 5D, the lease provides for a tenant option to determine the lease on 05/12/2025 subject to six months notice. In addition, the rent increases from £24,500 per annum exclusive to £25,500 per annum exclusive on 05/12/2025 until 04/12/2027.
If you are the successful bidder, Acuitus requires a separate payment of £1,250+VAT as a buyer's administration charge payable to Acuitus Limited upon exchange of contracts. A VAT receipt will be provided upon payment.
