{"loaderData":{"0-3":{"propertyListing":{"building":{"id":"760714248233952","summary":"Detached double pitched industrial/warehouse unit arranged as factory and stores at ground floor with ancillary offices, separate male and female WCs, kitchenette, locker room with further offices, predominantly open plan arrangement at first floor and mezzanine storage. The property benefits from two electric roller shutter doors to the front with space for loading and unloading on the front forecourt.\n\nINVESTMENT SUMMARY\nAssuming an ERV at review of £177,500 pax (£10.00 per sq. ft) and a purchase price of £1,800,000 exclusive, this equates to a Net Initial Yield of 6.72% and a Reversionary Yield of 9.32% (allowing for purchaser's costs of 5.75%). \n\nFMS Foils Limited are a successful business with a stable of blue chip clients. They are owned by WZ Packaging Limited, who have an Experian Credit Rating of 73/100 (Below Average Risk).","archived":false,"description":"Detached double pitched industrial/warehouse unit arranged as factory and stores at ground floor with ancillary offices, separate male and female WCs, kitchenette, locker room with further offices, predominantly open plan arrangement at first floor and mezzanine storage. The property benefits from two electric roller shutter doors to the front with space for loading and unloading on the front forecourt.

INVESTMENT SUMMARY
Assuming an ERV at review of £177,500 pax (£10.00 per sq. ft) and a purchase price of £1,800,000 exclusive, this equates to a Net Initial Yield of 6.72% and a Reversionary Yield of 9.32% (allowing for purchaser's costs of 5.75%).

FMS Foils Limited are a successful business with a stable of blue chip clients. They are owned by WZ Packaging Limited, who have an Experian Credit Rating of 73/100 (Below Average Risk).

Location

Temple Farm Industrial Estate in Southend-on-Sea is a well-established commercial hub offering versatile industrial units with excellent transport links and modern amenities. Located approximately two miles north of Southend town centre, Temple Farm Industrial Estate is strategically positioned near the A127, Southend's main arterial road, providing convenient access for logistics and distribution. The estate comprises a mix of light industrial and warehouse units.

VAT

All rents, prices and premiums are exclusive of VAT under the Finance Act 1989.

Rating

From enquiries made of the VOA, we are advised that the property has a current Rateable Value of £110,000. Interested parties are advised to make their own enquiries of the relevant local authority.

Legal Costs

Each party to bear their own legal costs incurred in this transaction.

EPC

The property has an EPC rating of C.

Tenure Comments

The property is held on a 999 Year Long Leasehold (virtual Freehold) from 1977 with a peppercorn Ground Rent. The unit is currently sub-let to FMS Foils Group Limited on a ten year lease from 9 May 2023 with an upwards only rent review in the fifth year and a Tenant's option to in break in 2028, subject to six months prior written notice at a passing rental of £128,000 per annum.","disclaimer":{"raw":"Disclaimer - Property reference 8907310FH. The information displayed about this property comprises a\n property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of\n the advertisement or any linked or associated information, and Rightmove has no control over the\n content. This property advertisement does not constitute property particulars. The information is\n provided and maintained by Kemsley LLP, Basildon . Please contact the selling\n agent or developer directly to obtain any information which may be available under the terms of\n The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations\n 2007 or the Home Report if in relation to a residential property in Scotland.\n"},"transactionType":"SALES","amenities":[],"keyFeatures":["ERV at Review - £177,500 per annum exclusive","Net Initial Yield - 6.72%","Current Income - £128,000 per annum exclusive","Reversionary Yield - 9.32%","The property has an EPC rating of C."],"environment":{"epcRating":null,"breeamRating":null,"environmentalDescription":null},"pricing":{"price":1800000,"displayQualifier":"OFFERS_IN_EXCESS_OF","frequency":null,"rentObligation":null},"useClasses":[],"tenureType":"FREEHOLD","tenureYearsRemaining":null,"parkingSpaces":null,"yearBuilt":null,"yearRenovated":null,"listedBuilding":null,"numberOfFloors":null,"planningPermission":null,"businessForSale":false,"media":{"brochures":[{"uri":"property-brochure/2d5f81e54/760714248233952/2d5f81e54f8e88d0b7fa4c763c0512bb.pdf","description":"8907310 - Unit 10a and 10b Southend On Sea"}],"photos":[{"uri":"property-photo/18a669fd0/760714248233952/18a669fd02756b1cd0e918a0a960331f.jpeg","description":"Photo 18"},{"uri":"property-photo/d1f761a5c/760714248233952/d1f761a5cf1e7205cd850d5524abd9cd.jpeg","description":"Photo 13"},{"uri":"property-photo/d87a8a67f/760714248233952/d87a8a67f918790b408f3300d84daa02.jpeg","description":"Photo 6"},{"uri":"property-photo/a148d164c/760714248233952/a148d164c3f12d1c23625ffa2e639b93.jpeg","description":"Photo 1"},{"uri":"property-photo/31bdc079f/760714248233952/31bdc079f9971ef8ac824e9fa66db611.jpeg","description":"Photo 14"},{"uri":"property-photo/b8e962097/760714248233952/b8e962097c2deac63d5210199a87bbb0.jpeg","description":"Photo 15"},{"uri":"property-photo/b18f27405/760714248233952/b18f2740574876546f45c5fc0db6ccec.jpeg","description":"Photo 16"},{"uri":"property-photo/78dbf6543/760714248233952/78dbf6543586227e41c925b2ec09c6bf.jpeg","description":"Photo 17"}],"floorPlans":[],"virtualTours":[],"videoTours":[],"epcs":[],"epcGraphs":[]},"sizing":{"unit":"SQFT","size":17728,"minSize":null,"measurementType":"GIA","maxSize":null},"location":{"displayAddress":"Unit 10a & 10b, The Wheelwrights, Temple Farm Industrial Estate, Southend On Sea, Essex, SS2","showMap":true,"postcode":{"incode":"5RD","outcode":"SS2"},"streetView":null,"latitude":51.562912,"longitude":0.713236},"nearestStations":[{"distance":0.5712858047944918,"name":"Southend Airport Station","types":["NATIONAL_TRAIN"],"unit":"miles"},{"distance":0.8301225599662637,"name":"Prittlewell Station","types":["NATIONAL_TRAIN"],"unit":"miles"},{"distance":1.4035906979242256,"name":"Rochford Station","types":["NATIONAL_TRAIN"],"unit":"miles"}],"agents":[{"name":"Kemsley LLP, Basildon ","email":null,"profileUrl":"/estate-agents/agent/Kemsley-LLP/Basildon-264509.html","logo":"/partner-logo/30567257-LOGO-1776167703021.jpg","id":264509,"description":"","telephoneNumber":"01268 203745","morePropertiesFromAgentUrl":"/commercial-property-for-sale/find/Kemsley-LLP/Basildon.html?locationIdentifier=BRANCH%5E264509&propertyStatus=all&includeLetAgreed=true&_includeLetAgreed=on","primaryBrandColour":"#005549"}],"owner":null,"primaryPropertyClassification":{"propertyClassificationSubType":"LIGHT_INDUSTRIAL","propertyClassificationType":"INDUSTRIAL_AND_LOGISTICS","offices":null,"industrialAndLogistics":{"driveInBays":null,"clearHeightUnit":null,"clearHeight":null,"dockLevellers":null,"floorLoadingCapacityKiloNewtons":null,"powerSupplyKiloVoltAmperes":null,"yardDepthMetres":null},"leisureAndHospitality":null,"retail":null},"secondaryPropertyClassifications":[],"letType":null,"letContractLength":null,"status":"AVAILABLE","availableDate":null,"serviceCharge":0,"businessRates":0,"isRentAllInclusive":null,"products":{"commercialSearchProminenceEnabled":true,"featuredProperty":false,"premiumListing":false,"premiumListingLabel":null},"auction":false,"spaces":[]}},"mediaParams":{"mediaType":"photos","mediaIndex":6}}},"actionData":null,"errors":null}