Commercial Property - Investment - Fully let multi-let industrial investment
The property is located 10 miles to the north of Central Milton Keynes and 9 miles to the south of Northampton. Junction 15 of the M1 is approximately 4 miles to the north and the A5 is 5 miles to the south.
The surrounding area is generally agricultural in nature although on the site immediately adjacent are two further sets of commercial buildings.
Vehicular and pedestrian access is available from the A508 which is made up and an adopted highway. Parking is directly available to the front and side of the Property.
The shared parts of the site are currently in the same ownership however if the disposal proceeds, all the necessary rights for access and services are to be granted for the building and land to properly function
A steel portal frame building of part block, part steel profile sheet under a fibre cement sheet roof. There are multiple steel roller shutter door and steel personnel door and concrete floor. There is an area of parking on concrete hardstanding around the perimeter of the building and along the western site boundary.
Internally the original open area has been sub-divided to create nine self-contained units, each with independent access.
Mains water and electricity are connected but are not separated and the buyer will administer the apportionment of utilities and, building insurance on a sq ft pro-rata basis. All tenants contribute towards the upkeep of common parts by way of an additional service charge (full details available on request). There are Male and female shared WC facilities on septic tank drainage.
The purchaser will contribute towards the costs of shared estate roadways and services used in common with the vendor’s retained estate. Services have not been tested.
|Unit||Ground floor area approx (sq. ft)||Tenant||Occupied Since||Lease start||Lease end||Rent £ pa||£/sq. ft||Comments|
|1||2150||Sweet on games ltd||2016||19/04/2023||18/04/2027||£13,975||£6.50||
4 year lease. Tenant only break clause on 19/10/25 with
6months notice. Unit has part mezzanine level in addition
to floor area shown.
|2||1000||The various group ltd||2022||26/08/2022||25/08/2026||£7,000||£7||
4 year lease. Tenant only break clause on 26/08/24 with
|3||1000||Innsite UK Ltd||2014||17/06/2017||16/06/2022||£6,000||£6||
NB.Holding over but new lease at £7k being negotiated
Unit has part mezzanine level in addition to floor area
|4||1000||Pizza of Dreams||2013||21/04/2023||20/04/2027||£7,000||£7||
4 year lease. Tenant only Break Clause on 21/10/25 with 6
|5||2200||S & G Storage||2022||25/07/2022||24/07/2026||£13,650||£6.20||
4 year lease. Tenant only Break Clause on 25/01/25 with 6
months notice. Tenant was previously Unit 2 (4years)
|6||2200||Artisan Oak Ltd||2022||22/04/2022||21/04/2026||£13,620||£6.19||
4year lease. Tenant only Break Clause on 21/04/24 with
3months notice. Unit has part mezzanine level in addition
to floor area shown.
4 year lease. Tenant only Break Clause on 21/10/24 with
3months notice. Stepped rent from £4980.00 to £6000.00
by Sept 2024
|8||1000||Ashman & Clough||2006||11/11/2021||10/11/2025||£6,000||£6||4 year lease. Tenant only Break Clause was 10/05/23.|
|9||1000||Milton Keynes Carpets Ltd||2020||01/08/2022||31/07/2026||£7,000||£7||
4 year lease. Tenant only Break Clause on 31/07/24 with
PV Income £6,300 resulting in a total income of £86,545 pa
|Rates Payable 2013/14:||£8,831|
(Excludes Small Business Rates Relief which may apply)
The Rates Payable figure is an estimate. It does not take into account any Transitional Arrangements. It is important that interested parties verify this information with the relevant Borough Council Rating Department.
Offers invited in excess of £875,000 (9.89% Gross Yield)
All figures quoted are exclusive of any VAT that the landlord may have a duty or choose to impose.
Each party shall bear their own legal costs involved in the transaction.
Strictly by appointment through the Sole Agents: HADLAND CHARTERED SURVEYORS TEL: 01604 639657