Investment for sale

The property is shown on the site plan edged red for identification purposes only, the total site extending to approximately 6.54 acres (2.647hectares).
The property comprises a large part of the former Schlumberger complex built in 1989. The building is of steel portal frame construction with profile coated metal cladding, the main entrance, reception and loading bay being to the rear.
The principal part of the property is used for a variety of production purposes, served by an air handling system and fitted with LED lighting and anti static flooring. Partitioned offices and other ancillary accommodation is arranged around the perimeter and fitted with carpet floor coverings, suspended ceilings and recessed lighting. Two first floor areas at either end of the building house the air handling plant.
The area behind the building comprises a large service yard which accommodates a further store building adjoining the main loading bay and a detached, single storey office building constructed with metal cladding to the elevations and roof, fitted with suspended ceilings, recessed fluorescent lighting, air conditioning, carpet tile floor coverings, with tea point and WC facilities.
A large car park is situated to the east of the building and provides potential for future development.
LOCATION
Felixstowe is the UK's largest and busiest container port handling 4 million TEU's and remains the country's primary gateway for imports from Asia and other global markets. The port serves 15 rail freight destinations and the A12 and A14 trunk routes provide access to The Midlands, London and the national motorway network.
The property is located in Langer Road, immediately adjoining the port complex and within less than 1 mile of the main entrance.
ACCOMMODATION
The property provides the following approximate floor areas and dimensions:
Main Building 57,256 sq ft[5,319.18 sq m]
Reception/Toilets2,041 sq ft[ 189.62 sq m]
Loading Bay Store1,011 sq ft[ 93.90 sq m]
East & West First Floor Plant Rooms 12,002 sq ft [1,115.05 sq m]
Gross Internal Floor Area72,310 sq ft[6,717.75 sq m]
Detached Offices Net Internal Floor Area 4,808 sq ft [ 446.67 sq m]
Main Building Eaves Height 4.60 m
Loading Bay Store Eaves Height 3.92 m
SERVICES
The property is understood to be connected to mains three phase electricity, water and drainage.
PLANNING
The property forms a substantial part of the former Schlumberger Industries manufacturing facility which was granted consent in 1988 under planning consent reference C/88/1762. Planning permission was granted on appeal in December 2021 for the subdivision of the building into 21 individual business units and the formation of a new car park. Further details are available upon request.
LOCAL AUTHORITY
East Suffolk District Council, East Suffolk House, Station Road, Woodbridge, Suffolk IP12 1RT
T. 0333 0162000
ENERGY PERFORMANCE CERTIFICATE [EPC]
The property has a Energy Rating of D77.
BUSINESS RATES
The property is currently assessed as follows:
Rateable Value (2026)£410,000
TENURE
The freehold interest is for sale subject to the tenancy referred to below.
The Title Number is SK245358 and a copy of the Title is available on request
TENANCY
The property is subject to a lease granted to Cogent Technology Ltd for a term of 10 years from the 1st October 2020. The lease is upon full repairing and insuring terms, the tenants repairing liability being limited by way of a photographic schedule of condition.
The current passing rent is £330,000 per annum, subject to an upward only rent review on the 30th September 2025. The review has been implemented and referred for third party determination. Further details are available upon request.
The tenant has surrendered the front section of the car park extending to approximately 0.76 acres (0.31 ha.) and this area is therefore available with vacant possession.
COVENANT
Cogent Technology Ltd was incorporated in October 1984.
The company' accounts for the period 1st January 2024 to 31st October 2024 (10 months) show a turnover of £4,451,624 and a loss before tax of £2,092,554.
The financial position of the company is understood to have improved significantly in the intervening period although this has not yet been verified.
The ultimate parent company is Heathpatch Ltd, incorporated in June 1997 with an Experian Score of 100 and as at June 2026 a credit limit of £1,200,000 and a credit rating of £410,000. The company's accounts for the year ended 31st October 2024 show a turnover of £59,609,423, a net profit of £9,269,680 and net assets of £82,690,866.
TERMS
Offers are invited in the region of £5,750,000.
The vendors preference is to sell the freehold unconditionally although offers subject to the determination of the outstanding rent review will be considered.
VAT
We understand the property is VAT elected, although the sale may be eligible to be treated as a Transfer of Going Concern.
LEGAL COSTS
Each party is to bear their own legal costs incurred during the transaction.
ANTI-MONEY LAUNDERING REGULATIONS
Anti-Money Laundering Regulations require Fenn Wright to formally verify a prospective purchaser's identity prior to the instruction of solicitors.
VIEWINGS STRICTLY BY PRIOR APPOINTMENT VIA THE SOLE AGENTS:
Fenn Wright
1 Buttermarket, Ipswich, Suffolk, IP1 1BA
Contact:
Alistair Mitchell
E: [email protected]
T: 01473 232701