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From
£700,000
UNITS 1-12, SHORNECLIFFE INDUSTRIAL ESTATE, NORTH CLOSE, CHERITON, FOLKESTONE, KENT
Key features:
- FOR SALE BY PUBLIC AUCTION AT The Clive Emson Conference Centre : 14-JUN-2012
- LOT NUMBER : 93
- EXCELLENT HIGH YIELDING INDUSTRIAL ESTATE INVESTMENT
- Commercial Investment
- Freehold
- Current Rental : £73,200 Per Annum
- GUIDE PRICE : £700,000 - £730,000
Full description:
An excellent High Yielding Industrial Estate investment situated on the outskirts of Folkestone, just off North Close and backing onto Military Road.
Units 1 & 1a
Tenancy
Let to 1st Call Group Ltd on a three year effectively fully repairing and insuring lease from 4th January 2010 at a current rental of £11,000 per annum.
Unit 2
Tenancy
Let to Maritime & Coastguard Agency (under assignment from Mr and Miss Hopkins) under the terms of a 12 year effectively fully repairing and insuring lease, from 1st March 2001, at a current rental of £5,800 per annum.
Unit 3
Tenancy
Let to Lewis Flooring (under assignment from Mr and Miss Hopkins) under the terms of an effectively fully repairing and insuring lease, from 1st February 2005 expiring 28th February 2013 at a current rental of £5,800 per annum.
Unit 4
Tenancy
Let to Sandgate Printers under the terms of a 10 year effectively fully repairing and insuring lease, from 25th December 2007, at a current rental of £5,900 per annum. Next rent review 25th December 2013.
Units 5 & 6
Tenancy
Let to Cable & Wireless under the terms of a 20 year effectively fully repairing and insuring lease from 6th October 1993 at a current rental of £11,500 per annum. Next rent review on 24th June 2011.
Units 7 & 10
Tenancy
Let to Shorncliffe Auto Repairs Limited under the terms of an effectively fully repairing and insuring lease from 16th October 2006 expiring 28th September 2017 at a current rental of £11,500 per annum. Rent reviews on 29th September 2011 and 29th September 2014.
Units 8 & 9
Tenancy
Let to Shorncliffe Auto Repairs Limited (under assignment from CJ Webb) under the terms of a 15 year effectively fully repairing and insuring lease, from 29th September 2002, at a current rental of £11,500 per annum. Rent Review 29th September 2011.
Unit 11
Tenancy
Let to Freeztech Limited under the terms of a five year effectively fully repairing and insuring lease, from 21st October 2011, at a current rental of £3,000 per annum (rising to £4,000 in year two and £5,000 for years three to five).
Unit 12
Tenancy
Let to SAS Driving Ltd with guarantee from S Scutchings, (under assignment from C J Webb), under the terms of a 15 year effectively fully repairing and insuring lease from 29th September 2002 at a current rental of £7,200 per annum. Rent reviews 29th September 2011 and 29th September 2014.
Tenure
Leasehold. Remainder of a 99 year lease from 1st January 2008 at a current ground rental of £100 per annum. The lease contains an option to allow the head leaseholder (and, therefore, successful buyer) the opportunity to purchase the freehold for the sum of £1,000. The option can be exercised any time after 31st December 2012.
Units 1 & 1a
Tenancy
Let to 1st Call Group Ltd on a three year effectively fully repairing and insuring lease from 4th January 2010 at a current rental of £11,000 per annum.
Unit 2
Tenancy
Let to Maritime & Coastguard Agency (under assignment from Mr and Miss Hopkins) under the terms of a 12 year effectively fully repairing and insuring lease, from 1st March 2001, at a current rental of £5,800 per annum.
Unit 3
Tenancy
Let to Lewis Flooring (under assignment from Mr and Miss Hopkins) under the terms of an effectively fully repairing and insuring lease, from 1st February 2005 expiring 28th February 2013 at a current rental of £5,800 per annum.
Unit 4
Tenancy
Let to Sandgate Printers under the terms of a 10 year effectively fully repairing and insuring lease, from 25th December 2007, at a current rental of £5,900 per annum. Next rent review 25th December 2013.
Units 5 & 6
Tenancy
Let to Cable & Wireless under the terms of a 20 year effectively fully repairing and insuring lease from 6th October 1993 at a current rental of £11,500 per annum. Next rent review on 24th June 2011.
Units 7 & 10
Tenancy
Let to Shorncliffe Auto Repairs Limited under the terms of an effectively fully repairing and insuring lease from 16th October 2006 expiring 28th September 2017 at a current rental of £11,500 per annum. Rent reviews on 29th September 2011 and 29th September 2014.
Units 8 & 9
Tenancy
Let to Shorncliffe Auto Repairs Limited (under assignment from CJ Webb) under the terms of a 15 year effectively fully repairing and insuring lease, from 29th September 2002, at a current rental of £11,500 per annum. Rent Review 29th September 2011.
Unit 11
Tenancy
Let to Freeztech Limited under the terms of a five year effectively fully repairing and insuring lease, from 21st October 2011, at a current rental of £3,000 per annum (rising to £4,000 in year two and £5,000 for years three to five).
Unit 12
Tenancy
Let to SAS Driving Ltd with guarantee from S Scutchings, (under assignment from C J Webb), under the terms of a 15 year effectively fully repairing and insuring lease from 29th September 2002 at a current rental of £7,200 per annum. Rent reviews 29th September 2011 and 29th September 2014.
Tenure
Leasehold. Remainder of a 99 year lease from 1st January 2008 at a current ground rental of £100 per annum. The lease contains an option to allow the head leaseholder (and, therefore, successful buyer) the opportunity to purchase the freehold for the sum of £1,000. The option can be exercised any time after 31st December 2012.
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