INVESTMENT FOR SALE - COMMERCIAL ESTATE

Transcription

1 INVESTMENT FOR SALE - COMMERCIAL ESTATE (Part Let / Part Vacant) Pentre Industrial Estate Pentre Near Nescliffe Shrewsbury Shropshire SY4 1BP High yielding commercial investment with potential for further income growth through active asset management. To be acquired as a company purchase. Existing planning consent for a residential property. Close proximity to the A5 Trunk Road. Rare opportunity to acquire a commercial estate in Shropshire. Total site area of approximately 2.5 acres with Total Gross Internal Floor Area of approximately 25,592 ft sq (2, m sq) (including the porta cabins). (Current Income 58,000 pa with potential for 75,000 a when fully let) Price : Offers in the region of 495,000 (Exclusive)

2 INVESTMENT (Part Let / Part Vacant) - Commercial Estate to be acquired as a company purchase Location The property is located in the hamlet of Pentre which is approximately 1 mile from Nescliffe and within close proximity of the A5 Trunk Road (Main Oswestry to Shrewsbury Road) which provides access to the national road network. The property is situated approximately 7 miles from the County Town of Shrewsbury and approximately 7 miles from Oswestry and approximately 25 miles from Telford. Description The property comprises of a 13 unit established commercial estate (part let/part vacant) sitting on a Total Site Area of approximately 2.5 aces (1.01 hectares), with a Total Gross Internal Floor Area of approximately 25,592 ft sq (2, m sq) including the porta cabins. The property is arranged to provide a variety of terraced and detached commercial units and three porta cabins that provide a variety of sized units currently ranging from 402 ft sq to 8,884 ft sq. The units are of a variety of constructional types and have a variety of eaves heights. Externally the site benefits from part tarmacadamed and part concreted external areas that could provide additional external storage or the opportunity to develop further units (subject to the receipt of any statutory consents). The property has been in its current ownership for over 10 years. To the front right-hand side of the estate there is an area of land that is understood to benefit from planning consent for a residential house. (Further details can be provided from the selling agents upon request) Investment Summary The estate offers the opportunity to acquire the rare opportunity of a strategically well located commercial estate on the edge of the town of Shrewsbury. There is an opportunity of further asset management by the letting of the vacant accommodation and the potential construction of other units (subject to the receipt of statutory consents). A purchase of the Estate at the asking price represents a low capital value of approximately per sq ft. The letting of the vacant existing accommodation offers the opportunity to create a high yielding industrial estate. Otherwise it is ideal for part owner occupation with an investment return. Accommodation (All measurements are approximate) Unit 1 and 1A 8884 ft sq ( m sq) Unit 2a 2,080 ft sq ( m sq) Unit 2b- 2,080 ft sq ( m sq) Unit 2-3,380 ft sq ( m sq) Unit 3-2,010 ft sq ( m sq) Unit 7 1,320 ft sq ( m sq) Unit ft sq (49.60 m sq) Unit 6a 210 ft sq (19.51 m sq) Unit 9 2,016 ft sq ( m sq) Unit 5-2,016 ft sq ( m sq) Unit 12 - (port) 774 ft sq (71.89 m sq) Unit 10 - (port) 402 ft sq (37.34 m sq) Unit 4 - ( port) 1,302 ft sq ( m sq)

3 Tenure The freehold interest in the estate (Title Number SL00939). The sale is subject to the following tenancy agreements (all the tenants are understood to be holding over under the terms of their previous leases as the leases have expired) All leases are understood to be granted Tenants Internal Repairing and Full Insuring Terms. The property interest is to be acquired as a company purchase. Full information available from the selling agents upon request, Planning (Prospective purchasers should make their own enquiries) It is understood that the estate benefits from planning consent for Use Class B1, B2 and B8 of The Town and Country Use Classes Order An area of land at the front of the estate is understood to benefit from planning consent for a residential dwelling under planning reference SA/09/0284/F. Company The property is currently held in the ownership of a company. It may be possible to acquire the company (further information available from the selling agent). Services Not tested prospective purchasers should make their own enquiries. It is understood that mains electricity (including three phase) is connected to the property (this is via a submetered supply to the units). Mains water and private drainage. Shrewsbury / West Midlands / Worcester

4 VAT The company is understood to be elected for VAT. It is understood that this is proposed that the sale should proceed as a TOGC (Transfer as a going concern) therefore VAT will not be payable. Prospective purchasers should satisfy themselves relating to the same. Legal Costs Each party is to be responsible for their own legal costs incurred in respect of the transaction. Rateable Value (Verbal enquiries were made to the local authority and we were advised as follows:) (*Small business rates relief may apply) Unit 1 Unit 6a Business Rates (2015/16: 980 Rateable Value (2015/16): 7,600 Rateable Value (2015/16): 910 Unit 1A Rateable Value (2015/16): 5,400 Unit 2a Rateable Value (2015/16): 4,600 Unit 2b Rateable Value (2015/16): 4,150 Unit 2 Business Rates (2015/16: Rateable Value (2015/16): 6,300 Unit 3 Rateable Value (2015/16): 4,900 Unit 7 Rateable Value (2015/16): 3,300 Unit 9 Rateable Value (2015/16): 1,750 Unit 5 Rateable Value (2015/16): 2,025 Unit 12 (port) Business Rates (2015/16: Rateable Value (2015/16): Unit 10 (port) Business Rates (2015/16: Rateable Value (2015/16): Unit 4 (port) Rateable Value (2015/16): 3,200 Unit 8 Rateable Value (2015/16): 1,650 Shrewsbury / West Midlands / Worcester

5 Price Offers are invited in the region of 495,000 (Exclusive) for the acquisition of the shares in the company. Local Authority Shropshire Council, Shirehall, Abbey Foregate, Shrewsbury SY2 6ND Telephone: Viewing Strictly by appointment through Halls Commercial, Halls Holdings House, Bowmen Way, Shrewsbury, SY4 3DR James Evans E: Rebecca Welch Halls have advised their clients on the Code of Practice for Commercial Leases in England and Wales. Halls, for themselves and for the vendor of this property, or as the case may be, lessor whose agents they are, give notice that: i) These particulars are intended for guidance only. They are prepared and issued in good faith and are intended to give a fair description but do not constitute part of an over or contract. Any information given should not be relied on as statement or representation of fact or that the property or its services are in good condition. ii) Halls have not made any investigations into the existence or otherwise of any issues concerning pollution and potential land, air and water contamination. The purchaser is responsible for making his or her own enquiries in this regard. iii) Neither Halls nor any of their employees has any authority to make or give any representation or warranty whatsoever in relation to the property. iv) The images show only certain parts and aspects of the property at the time they were taken/created. Any areas, measurements or distances given are approximate only. Any plans are for identification purposes only. v) Any reference to alterations to, or use of, any part of the property is not a statement that any necessary planning, building regulations or other consent has been obtained. An intending purchaser must verify these matters. An occupier should not rely upon the Use stated in these particulars and should check their proposed use with the relevant Planning Authority to ensure it is permitted.