Investment For Sale, Severalls Industrial Park

Axis One Comprises A Modern Freehold Industrial Investment Comprising Three Detached Industrial Units, Constructed Between 1998 And 2000, Benefiting From Good Eaves Heights, Loading Access, Yards And Office Accommodation.

The Units Are Of Steel Portal Frame Construction With Profile Metal Cladding, Providing Versatile And Lettable Accommodation Suitable For A Range Of Industrial Occupiers.

Location

Severalls Industrial Park Is Colchester's Principal Industrial Location, Situated To The North Of The City Centre And Immediately Adjacent To The A12/a120 Interchange, Providing Excellent Connectivity To Stansted Airport, The East Coast Ports Of Harwich And Felixstowe, And The National Motorway Network. The Estate Accommodates A Diverse Mix Of National And Regional Occupiers And Benefits From Established Infrastructure And Consistently Strong Occupational Demand

Accommodation

[approximate Gross Internal Floor Areas]

Unit A - Warehouse 6,144 Sq Ft, Mezzanine 940 Sq Ft, Total - 7,084 Sq Ft

Unit B - Ground & First Floor Total - 7,106 Sq Ft

Unit C/d - Ground & First Floor Total - 8,035 Sq Ft

Total - 22,225 Sq Ft [2,064.75 Sq M]

Lease Summary

The Property Is Fully Let On Full Repairing And Insuring Leases To Three Strong Covenants: Wolseley Uk Limited, Technotrans Graphics Limited And Euro Car Parts Limited, Producing A Total Rental Income Of £226,000 Per Annum.

Unit A: Let For 5 Years From 8th January 2025 To Wolseley Uk Limited (reg No 00636445) Ta Fusion Utilities At £73,000 Pax, Contracted Inside The L&t Act 1954 On Fri Terms. In Occupation Since May 1998.

Unit B: Let For 6 Years From 21st July 2024 To Technotrans Graphics Limited (reg No 02612383) At £71,000 Per Annum, Increasing To £74,000 On 21st July 2026, Contracted Inside The L&t Act 1954 On Fri Terms With A Tenants Break And An Upward Only Rent Review On 21st July 2027. In Occupation Since July 2003.

Unit C/d: Let For 10 Years From 13th April 2018 To Euro Car Parts Limited (reg No 02680212) At £79,000 Pax, Contracted Inside The L&t Act 1954 On Fri Terms, Subject To A Schedule Of Condition.

Terms

The Property Is Offered For Sale At £3,200,000 Plus Vat, Reflecting An Attractive Gross Yield Of Approximately 7% And A Low Capital Value Of Just £144 Per Sq Ft (£13.38 Per Sq M).

Service Charge

There Is No Service Charge Levied On The Tenants And The Landlord Pays The Maintenance Costs Of £600 Per Annum Themselves.

Buildings Insurance

£3,500 (expiry 20th March 2027).

Epc

Unit A D (85), Unit B D (80), Unit C/d D (83)

Vat

We Are Advised That Vat Will Be Applicable On The Purchase Price.

All Prices Are Exclusive Of Vat Under The Finance Act 1989. A Togc Sale Maybe Possible.

Legal Costs

Each Party Will Bear Their Own Legal Costs.

Anti-money Laundering Regulations

Anti-money Laundering Regulations Require Fenn Wright To Formally Verify Prospective Purchaser's Identity, Residence And Source Of Funds Prior To Instructing Solicitors.

Viewings Strictly By Appointment Via Sole Selling Agents:

Fenn Wright

Contact:

T: 01206 854545

E: Colchestercommercial@fennwright.co.uk