Units F2 & F4 Ironstone Lane Industrial Estate, Market Overton, Oakham LE15 7TP

2 Tenanted Industrial Units in Market Overton generating £15,000 rent

Offers in excess of £180,000 + VAT

F2 - 1,160 Sq ft
F4 - 1,160 Sq Ft

Size - 1,160 Sq Ft each
Price - Offers over £180,000
Service Charge - circa £400 each per annum
Rateable Value - RV £6,500 Each
Legal Fees - Both parties will be responsible for their own fees
VAT - Applicable on the purchase price
EPC - Both Units G (176)

Both these Industrial Storage/Distribution units have 5m eaves and a 5.7m ridge being located on the industrial estate in Market Overton. 3m x 3m roller shutter door plus personnel door incorporating a security grill. Kitchen and Wc to the ground floor with Office over including a UPVC double glazed bay window.

Both units are let to the same tenant with a combined rent of £15,000 per annum. Unit F4 is a virtual freehold and Unit F2 is owned on a long leasehold basis with the head lease being 125 yrs from 25/03/1986 on a peppercorn rent if demanded. The virtual freehold of Unit F2 is available by separate negotiation.

Location - The Ironstone Industrial Estate is on the edge of Market Overton away from the residential houses. Market Overton is in Rutland approximately 7 miles from the market town of Oakham and the A1 is 4 miles away at the South Witham Junction with connections North and South.

Accommodation - The accommodation in each unit comprises the following areas:

Ground - Industrial/Storage 902 sq ft
Ground - Kitchen, Wc and staircase 120 sq ft
1st - Office 138 sq ft with projecting walk in bay window.

The units are currently linked internally and a structural barrier would be required to separate them

Terms - The Units are available on an investment basis with the existing tenants in place. Both properties are let on the same licence to occupy. Offers in excess of £180,000 plus VAT

F2 & F4 - Let on a 3 year term from 1st March 2024 at an annual rent of £15,000. There are no Rent reviews or breaks within the Licence.

Services - The current tenants use the buildings for storage of stock only and neither the water nor the Electricity is in current use. Water and 3 phase electricity are connected together with drainage to the communal septic tank.