8, 14 &14A Pillings Road Investment, Oakham LE15 6QF

A freehold investment of 3 separate properties plus secure yard, all let to the same tenant

Price Guide £700,000 FREEHOLD

3,768 to 8,577 sq ft (350.06 to 796.83 sq m)

Size - 3,768 to 8,577 sq ft
Price - Guide price £700,000
Lease Position - Let to a single tenant on a 10 year FRI lease from May 2020. Mid term review has revised the rent to £54,000 per annum for the remainder of the lease
Rateable Value - £31,500 Please enquire from Rutland County Council for rates payable
EPC Rating - No.8 115 (Band E) No’s 14/14A 143 (Band F)

The property comprises of 3 originally separate factory units, within a secure yard. The accommodation is to a high specification, being used in the food processing industry.

Location - Oakham is the county town of Rutland with a growing population of approximately 13,000 (up from 12,150 in the 2021 Census). It is within convenient travelling distance of Leicester, Grantham, Nottingham and Peterborough and situated approximately 9 miles due west of the A1 trunk road.

Accommodation - The accommodation comprises the following GIA

Unit - 8 - 4,809 Sq Ft 446.77 Sq m
Unit - 14 & 14a - 3,768 Sq Ft 350.06 Sq m
Total - 8,577 Sq Ft 796.83 Sq m

Planning - We are advised that the current planning use for the properties is B1 industrial (now Class E)

Tenure - For sale Freehold with buildings let on 2 separate leases (No.8 and No’s 14 & 14A), identical and running contemporaneously. Both leases are from 12/5/2020, expiring on the 12/5/2030. There is a tenant break at 12/5/26, with rent review on the 12/5/2025 completed. Both leases are held on an FRI basis, subject to a Schedule of Condition.

Services - We understand that mains electricity, water and drainage are connected to the premises. No services or appliances have been tested by the Agents

Viewings - Strictly by appointment through Reid Commercial Property or P&F Commercial on or by email