Investment, For Sale
Unit 4 Tannery Close, Power Station Road, Power Station Road, Rugeley, Staffs, WS15 2HS.
Details
Property reference:
CA/BP/2238/a0423/ELH
Address:
Unit 4 Tannery Close, Power Station Road, Power Station Road, Rugeley, Staffs, WS15 2HS.
Location:
Rugeley is a market town in Staffordshire being situated on the A51 approximately 8 miles south east of Stafford and 26 miles north of Birmingham. The M6 motorway is located approximately 7 miles to the south. The property, which has a prominent frontage to the town's bypass (A51), is situated approximately 1 mile from Rugeley town centre being opposite an existing Tesco supermarket and within an established industrial location. There is a substantial Amazon storage and distribution Hub which is situated on Towers Business Park together with the adjacent former Power Station which has outline planning for a comprehensive residential lead redevelopment to include around 2,300 new homes.
Description:
The property, which is detached, has a prominent frontage to Tannery Close and is of steel portal framed construction with masonry and clad elevations under a pitched clad roof incorporating 10% translucent light panels. There is a tarmac/concrete service yard with access to the roller shutter doors.
Detailed Specification
- Size: 6,128 sq ft (569.3 sq m)
- Price/ Rent: We are instructed to seek offers in the region of £750,000 (Seven Hundred & Fifty Thousand), subject to contract and exclusive of VAT. A purchase at this price would reflect a net initial yield of 5.71% assuming purchaser's costs of 5.0%.
- Accommodation:
All measurements are approximate:
Ground Floor - 5,089 sq ft (472.8 sq m)First Floor Offices - 1,039 sq ft (96.5 sq m)
Outside
Enclosed site 0.85 acres (0.344 hectares)
- Planning: We understand all mains services are available.
- Local authority: Cannock Chase Council Tel: 01543 462621.
- Viewing: Strictly by prior appointment with the Agent's Cannock office.
- Energy Performance Certificate (E.P.C.): Energy Performance Certificate E-104.
- E.P.C. Number: 2623-3073-0203-0302-8601.
- V.A.T.: The property has been elected for VAT and therefore VAT will be payable. It is intended that the property will be sold as a TOGC.
- Legal Cost: Each party is to be responsible for their own legal costs.
- Terms: Freehold.
- Further Information:
TENANCY
The Property is let to Midland & General Scaffolding Limited on a 6 year lease from 2nd December 2021 at a current passing rent of £45,000 per annum exclusive. There is a rent review at the end of the third year of the term and the Tenant has an option to terminate the Lease, also at the end of the third year subject to a minimum of 6 months' prior written notice. There is an ingoing Photographic Schedule of Condition which limits the Tenant's repairing obligations. A copy of the Lease is available for inspection at the Agent's Cannock office.
COVENANT
Midland & General Scaffolding Limited (Company Registration No 06455823) was incorporated on 18th December 2007 and according to the Red Flag Alert credit agency, has a silver health rating. For the financial year ending 31st March 2022, shareholder's funds were £2,819,202.
ANTI-MONEY LAUNDERING
A successful purchaser will be required to provide the appropriate information to justify current Anti-Money Laundering Regulations when Heads of Terms are agreed.
Disclaimer: Messrs. Andrew Dixon & Co. (and their joint agents, where applicable) for themselves and for the vendor(s) or lessor(s) of this property whose agents they are, give notice that : (1) The particulars are set out as a general outline for the guidance of intending purchasers or lessors, and do not constitute, nor constitute part of, an offer or contract. (2) Any information contained herein (whether in the text, plans or photographs etc.) is given in good faith but without responsibility and is believed to be correct. Any intending purchasers or tenants should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. (3) No employee of Messrs. Andrew Dixon & Co. has any authority to make or give representation or warranty whatsoever in relation to this property. (4) Whilst every care has been taken to prepare these particulars, we would be grateful if you could inform us of any errors or misleading descriptions found in order that we may correct them in our records.
