Industrial for sale

Key Features

• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
• Rare Freehold investment opportunity
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
• Industrial unit let to SIG Trading Ltd at a passing rent of £56,560 per annum (£9.74 per sq ft)
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
• Communications site (telephone mast) subject to a code agreement with EE Ltd and Hutchinson 3G UK Ltd currently producing £3,000 per annum
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
• Total passing rent of £59,560 per annum
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  
•  
• 
  

Location

The property is situated within an established industrial area within Tilehurst, 2.2 miles west of Reading town centre. Vehicular access is good with roads suitable for HGV access. Junction 11 and Junction 12 of the M4 are 4.6 miles south east and 3.2 miles south west respectively.

what3words ///played.crush.topic

Description

The property comprises a site containing a semi-detached light industrial / warehouse unit with offices, a trade counter, WCs and self-contained yards to the side and rear. The property also comprises a communications site providing a telephone mast.

Specifications

- 5 metre minimum eaves height (apex: 6.25m)
- 3 phase electricity
- 2x Electric level access loading doors
- Trade Counter
- Offices and 2x WCs
- HGV access

Available area

We understand the Gross Internal Area (GIA) of the warehouse is as follows:

Lease Summary

The warehouse is let to SIG Trading Ltd (Reg company no. 01451007) on a lease dated 20th December 2023.

- Term: 10 years, commencing on 8th December 2023 and ending on 7th December 2033.
- Tenant only break clause dated 8th December 2028 (subject to 6 months notice).
- Passing Rent: £56,560 per annum exclusive
- U/O Rent Review to OMR on 5th anniversary
- Inside the Security of Tenure Provisions of the Landlord and Tenant Act 1954.
- Full repairing and insuring terms.

The communications site (telephone mast) is operated by EE Ltd (Reg company no. 02382161) and Hutchinson 3G UK Ltd (Reg company no. 03885486) via a 10 year code agreement.

- Currently producing £3,000 per annum exclusive
- 5 yearly RPI linked rent review.

Copies of the lease and code agreement are available on request.

Terms

Offers are invited in the region of £750,000 (Seven Hundred and Fifty Thousand Pounds) for the freehold interest, subject to contract. A purchase at this price reflects a Net Initial Yield of 7.53% (assuming purchasers costs of 5.5%).

Rateable Value

Warehouse: £59,000
Communications site: £14,750

Legal Costs / VAT

Each party to bear their own costs. Prices are quoted excl. of VAT which will not be charged.

Anti-Money Laundering Regulations

To comply with Anti Money Laundering regulations, Haslams Surveyors LLP undertake ID checks for all successful purchasers and tenants where legislation requires us to do so.

Viewing & Further Information

Please contact the sole agents for further information or an appointment to view.