Nearby occupiers include Shurgard Self Storage, Intersurgical and Kaplan Publishing
Lot 50
Auction 17th October 2013
Rent £106,600 per Annum Exclusive
Status Sold
Price £860,000
Sector Industrial/Warehouse
Auction Venue The Millennium Hotel 44 Grosvenor Square Mayfair London W1K 2HP
Property Information
Location
Miles
38 miles west of Central London
8 miles south-east of Reading
9 miles north-east of Basingstoke
Roads
M4, A329, M3
Rail
Wokingham Rail Station
Air
London Heathrow
Situation
The property is located on a busy and established industrial estate some 300 metres south-west of Wokingham Train station and approximately 1 mile west of Wokingham town centre. The property is situated at the junction of Molly Millar’s Road and Barkham Road. Other occupiers nearby include Shurgard Self Storage, Intersurgical and Kaplan Publishing.
Tenure
Freehold.
Location
Miles
38 miles west of Central London
8 miles south-east of Reading
9 miles north-east of Basingstoke
Roads
M4, A329, M3
Rail
Wokingham Rail Station
Air
London Heathrow
Situation
The property is located on a busy and established industrial estate some 300 metres south-west of Wokingham Train station and approximately 1 mile west of Wokingham town centre. The property is situated at the junction of Molly Millar’s Road and Barkham Road. Other occupiers nearby include Shurgard Self Storage, Intersurgical and Kaplan Publishing.
Tenure
Freehold.
Description
The property comprises a modern industrial unit with two storey integral offices. The industrial accommodation benefits from an eaves height of approximately 7 m (23 ft) and two vehicle accessible loading doors. The property benefits from a significant forecourt providing car parking.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a modern industrial unit with two storey integral offices. The industrial accommodation benefits from an eaves height of approximately 7 m (23 ft) and two vehicle accessible loading doors. The property benefits from a significant forecourt providing car parking.
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)
Tenant
Term
Rent p.a.x.
Review
Ground
Industrial
1,585 sq m
(17,056 sq ft)
RAINBOW REMOVALS LIMITED (1)
5 years from 01/03/2013 on a full repairing and insuring lease (3)
£106,600
Totals
1,585 sq m
(17,056 sq ft)
£106,600
(1) Rainbow Removals are a family run business that operate from 9 locations in Surrey and Berkshire. (www.rainbowremovals.co.uk) (2) The current rent reserved under the terms of the lease is £53,300 per annum exclusive. The lease provides for the rent to be increased to £106,600 per annum exclusive on 15th December 2013. The seller will pay the buyer the difference between the current rent reserved and £106,600 per annum exclusive from completion of the sale until 14th December 2013. Therefore the property will produce £106,600 per annum exclusive from completion of the sale. (3) The lease is outside the security of tenure provisions of the Landlord and Tenant Act 1954 and provides for a tenant option to determine the lease on 1st March 2016 and 1st March 2017 and is subject to a schedule of condition. If the tenant does not exercise their option to determine, a 3 month rent free period will follow in the next quarter.
