SITUATION The premises are situated on the Timothy’s Bridge Road in the established commercial location approximately one mile North of Stratford upon Avon town centre with easy access to the A46 and the M40 Motorway (J.15) and the whole of the Midlands. It is close to Bishopton Lane which gives direct access to the roundabout at the junction of the A46 and A3400. It also has easy access to trains to London, South and Midlands from Stratford Parkway.
DESCRIPTION The premises comprise a block of four bays of brick and steel frame construction with pitched roofs. There is forecourt parking and further land to the side and rear allocated to the various tenants.
Number 31 3,965 sq.ft (368.3 sq.m)
Number 33 3,080 sq.ft (286.1 sq.m)
Number 35 3,830 sq.ft (355.8 sq.m)
Number 37 3,660 sq.ft (340 sq.m)
Rear Number 33/35a 2,305 sq.ft (214.1 sq.m)
TOTAL 16,840 SQ.FT (1,564.3 SQ.M)
HEADLEASE There is a headlease in place with a fixed ground rent of £1,000 per annum for 99 years from 29th September 1972 and therefore this expires in approximately 52 years’ time.
All of the properties are sublet on the following terms:
Number 31 (Tenant – Gas Centre Limited) - This is held on a 5 year lease from 19th July 2018, expiring on 18th July 2023. The current rent is £18,000 per annum and there are rent reviews due in July 2021 and July 2022.
Rear of Number 33A/35A (Tenant - Gas Centre Limited) – This is held on a 5 year lease from 19th July 2018 at a rent of £8,400 per annum on similar terms and repairing liabilities as Number 31.
Number 33 Ground Floor Workshop (Tenant – BCH Welding Limited) – £8,400 per annum rent for 3 years (lease being finalised).
Vacant area could bring overall unit rent to £10,000 per annum.
Number 35 (Tenant – Paul Blundell) - This is let on a lease from 1st March 2017, expiring on 31st December 2019 at a rent of £9,600 per annum.
Number 37 (Tenant – Karl McMillan) - This is held on a lease from 23rd January 2018, expiring on 30th November 2021 at a rent of £15,000 per annum.
Copies of the headlease and subleases are available on request.
SUMMARY OF INCOME
Number 31 - £18,000 per annum.
Number 33 – Ground Floor Workshop - £8,400 per annum rent for 3 years.
Number 33 Vacant Area – Can provide additional rent (say, £1,600 per annum).
Number 35 - £9,600 per annum.
Number 33/35 - £8,400 per annum.
Number 37 - £15,000 per annum.
Gross Current Income = £59,400 per annum exclusive.
A summary of the Landlord’s management costs is available on request.
REPAIRS The subleases are all on similar terms. The sub tenant being responsible for the interior and the head Landlord for the exterior and outside area. These costs are not recoverable through a service charge.
BUILDINGS INSURANCE The Landlord re-claims the premium from the sub tenants.
VAT is not payable on the sale price.
EPC certificates are available for each unit on request.
PRICE £630,000 for the benefit of the existing headlease and subject to the various tenancies.
LEGAL COSTS The purchasers will be responsible for the vendors reasonable legal costs.
VIEWING Strictly by appointment with the sole Agents.