About this property
Key Features
Business Unaffected
More than 22 years to expiry, over 12.5 years to break
Rental income of £61,065 per annum
Freehold purpose built day nursery
Description
A purpose-built children’s day nursery, constructed in 2015, comprising a single storey building of brick/block construction under a pitched, powder coated metal sheet roof. Internally, the property is laid out with a number of age-specific class/nursery rooms, each with en-suite facilities. Externally, there is dedicated car parking and a drop off area.
The property comprises around 374 sq m (4,025 sq ft) gross internal area, on a site of 0.39 acres.
Tenure
Freehold subject to tenancy
Location
Haverhill is a rapidly expanding Suffolk market town located around 17 miles south-east of Cambridge (population of 27,000). A further 3,500 new homes planned for the town by 2031.
The property itself is located at Haverhill Research Park, a 30-acre landscaped park with Enterprise Zone status and planning permission for over 450,000 sq ft of development.
Taylor Wimpey have recently completed the construction of 150 new homes at the adjoining Arboretum development, and Marston Inns’ “The Flying Shuttle” occupies a neighbouring plot. It is an ideal location for child drop off/pick up for parents working in Haverhill or Cambridge
Lot Type
Commercial
Tenancies
The property is let to Colourbox Montessori School Limited on a 25-year FRI lease from 20/08/2015. There is a tenant break option at 20/08/2030 on 12 months’ notice, and upward only reviews at 20/08/2020 and five-yearly thereafter. The current rent is £61,065 per annum (£15 psf) plus VAT. There is a 12-month rent deposit held by the landlord.
CAPITAL ALLOWANCES AND VAT
There is currently £111,000 of unclaimed capital allowances available with the building. Please refer to the auction pack for details regarding VAT.
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Gowling WLG, 4 More London Riverside, London, SE1 2AU Tel: 0203 636 7830 Ref: AP
Viewing
Cheffins Commercial Department 01223 213666
Important notes
*Guide prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set up to or within the Guide Range or no more than 10% above a single figure Guide. The reserve price will remain confidential between the seller and the auctioneer.
Fees: The guide price excludes any additional fees that the purchaser may incur, to include, but not limited to, Buyers Contract fee, Stamp Duty Land Tax, VAT, legal and search fees etc. Please refer to relevant Auction Legal Packs for details.�