Unit 3-6, Stone Lane Industrial Estate, Wimborne, Dorset, BH21 1HB

Description

Wimborne Minster is a popular and affluent Dorset market town. The town is situated just off the A31 with excellent road connections to nearby Ferndown, Bournemouth/Poole, and Blandford Forum.
The site is accessed via St Margaret's Hill, B3082 from Blandford or B3078 from Wimborne.
The subject site is a self-contained section of the Stone Lane industrial Estate, which in total extends to circa 4 acres. The site was developed in the 60's and 70's and is understood to have originally been a brickworks.
Units, 3, 3a, 4, 5 & 6 are situated at the northern end of the estate road behind a secure gated entrance.
There will be a later opportunity to purchase Unit 2 Stone Lane to form a complete site in the near future.
The site has a good level of external space and future asset management opportunities.

The site extends to circa 1.045 acres.

TENANCIES

Units 3/3A
Let by way of a lease to MRF Parts Ltd (Co. No 13319708)
Term 6 years from 9th of February 2024 reserving a current rent of £22,500 per annum. The lease is excluded from the security of tenure provisions of the LTA 1954, part II.
Open market rent review at 3rd anniversary.
All three directors of MRF Parts Ltd stand as personal guarantors to the lease. A three month rent deposit is held by the Landlord.

Unit 4
Lease renewal yet to be concluded to TG Welding Limited (Co. No 02676155)
Term 6 years from the date of the lease (agreed but yet to be concluded) reserving a rent of £18,500 per annum. The lease is excluded from the security of tenure provisions of the LTA 1954, part II. The lease is subject to a schedule of condition and a break clause / rent review at 3rd anniversary.

Unit 5
Let by way of a lease dated 29th April 2022 to Benchmarque Designs Limited (Co.No. 03603084) and Mr M. P. Batchell.
Term six years from 10th May 2020, expiring 9th May 2026 reserving a current rent of £18,500 per annum, subject to upward only open market rent review May 2023. The lease is excluded from the security of tenure provisions of the LTA 1954, Part II.
The lease provides a mutual break on 10th May 2023 subject to 6 months' notice.

Unit 6
Let by way of a lease dated 10 October 2023 to Mackenzie Motors Limited (Co. No. 11244239).
Term 5 years from 1st September 2023, reserving a current rent of £26,400 per annum. A three month rent deposit is held by the Landlord.. A Mrs Fiona Kusel stands as guarantor.
Total Income reserved £85,900 per annum.

TENURE

The property is held freehold. There are understood to be two separate titles forming the interest to be sold. The current access road is un-registered.

ESTATE MANAGEMENT/SERVICE CHARGE

We are advised the estate charges are levied on an "as and when" basis with no formal service charge on account. We are advised there is a cap on the service charge for unit 4 at £2,500 subject to indexation.


Accommodation

Unit 3/3A 3,345 Sq. Ft. (310.84 Sq.M)
Unit 4 3,068 Sq.Ft (285.20 Sq.M)
Mezzanine 564 Sq. Ft (52.43 Sq. M)
Unit 5 3,510 Sq. Ft (326.25 Sq.M)
Mezzanine 635 Sq.Ft (59 Sq.M)
Unit 6 4,756 Sq. Ft. (442 Sq.M)
Mezzanine 635 Sq.Ft (59 Sq.M)

Total Internal Area 16,513 Sq.Ft (1,534.72 Sq.M)

Planning

Interested parties are advised to make their own enquiries of the Local Authority for confirmation.

EPC Text

Asset Ratings
Unit 3 D86
Unit 3a N/A
Unit 4 F134
Unit 5 D88
Unit 6 E122

Rating

Rateable Values
Unit 3 £6,500
Unit 3a £9,700
Unit 4 £14,500
Unit 5 £14,500
Unit 6 £14,750
Source

Terms

Seeking offers in the region of £1,150,000, subject to contract and exclusive of VAT, reflecting a gross initial yield of 7.47%, A purchase at this level reflects £78.34 per sq.ft (disregarding mezzanines).

We understand that VAT is not payable on the purchase but advise all parties to make their own enquiries.




Anti Money Laundering

Please note all prospective purchasers will need to be verified for 'Anti Money Laundering' purposes prior to issuing memorandum of agreed terms of sale.