About this property
Key Features
Anchored by EDF EN Services
Annual income of £53,043
Multi-let Industrial Estate totalling 12,162ft²
Description
A wonderful opportunity to purchase Springwater Business Park, which is a commercial investment opportunity comprising 5 industrial units occupied by 3 established tenants.
The property boasts a strong rental income of £53,043 per annum, anchored by EDF EN Services.
The units are of steel frame construction with a brick and block elevations, with profiled metal cladding panels to the upper elevations, set under a pitched insulated metal clad roof.
Internally, each unit benefits from pedestrian and roller-shutter access as well as designated parking. Internally the units contain solid concrete flooring throughout with each tenants' bespoke fit out.
EPC ratings:
Units 1-3: E (122)
Unit 6: E (107)
Unit 7: D (80)
Tenure
Subject to tenancies
Location
Springwater Business park is is located on Station Road in Whittlesey, which is approximately 6 miles east of Peterborough and 11 miles west of March. Whittlesey Train Station is located 0.2 miles away, which has direct lines to Cambridge, Birmingham, Liverpool and Stansted Airport.
Auctioneers Note
The landlord is not currently administering a service charge account, but the occupational leases allow for one to be set up. At present all current estate expenditure is incurred by the landlord and re-charged to the tenants. The service charge includes security, property maintenance, audit fee, management charges and landscaping. The service charge is set up to be paid by the tenants quarterly or monthly on a sq ft pro rata basis. Previous expenditure is available on request.
Overflow
Whittlesey is a thriving Fenland town with high levels of employment across a variety of sectors.
The property presents a rare opportunity for a purchaser to acquire a strong rental income, from established tenants, including a strong anchor tenant, in a popular strategic location. There may be further asset management opportunities.
VAT
VAT is payable on the purchase price.
Lot Type
Commercial
Tenancies
The units are currently let to EDF EN Services UK Ltd, Trade Van Sales Ltd and Stadler UK Ltd, full tenancy details can be found in the legal pack and a summary can be seen on the schedule below.
Unit 1 & 2 (4,520ft²)
Let to EDF at £18,060pa. The current lease commenced on 07/12/2018 and is due to end on 31/01/24.
Unit 3 (2,799ft²)
Let to Trade Van Sales Ltd at £9,500pa. The current lease commenced on 01/06/2016 and is ongoing.
Unit 6 & 7 (4,843ft²)
Let to Stadler UK at £25,482pa. The current lease commenced on 01/11/2018 and is due to end on 31/10/23.
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or David Kearsley at DPM Legal, Sutton House, Weyside Park, Catteshall Lane, Godalming, GU7 1XE
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.�