Modern Industrial Unit Investment Sale - Current Income £20,000 Per Annum - Business Unaffected
- Currently occupied as a gymnasium, having been so for over 10 years
- 10 year lease term with approximately 5 years remaining and income of £20,000 per annum
- Consisting of 2 industrial units each with mezzanine floors
- Ground floor 2,284 sq.ft (212 sq.m) and mezzanine floor of 3,963 sq.ft (368 sq.m)
- Located on established Business Park
- Business unaffected
THE PROPERTY AND CONSTRUCTION
Being within a block of 4 units, the premises consists of 2 adjoining units and mezzanine floors plus an additional mezzanine floor area. The premises are of steel portal frame construction under a profiled insulated roof with approximately 10% translucent roof panels. There is brick work to the exterior of the premises to approximately 7ft with all internal elevations being block work. The ground floor is currently utilised as reception and studio space of circa 2,284 sq.ft (212 sq.m) with mezzanine floor space totalling 3,963 sq.ft (368 sq.m) comprising open plan gymnasium, office, treatment room and changing rooms. To the end of the terrace is a small yard area suitable for external storage or development of an additional unit, subject to planning permission.
Having been in the trade for many years we have established good connections in the finance sector. Our association with these Banks and Commercial Brokers mean that we are able to offer you introductions to competitive finance packages, for a new purchase or refinance purposes alike. Whether it is initial advice on your likely purchase level or if you are at the point of making an offer, you will often be able to achieve preferential rates, possibly saving you thousands of pounds. Please call for more information.
JD Commercial for themselves, and for the Vendors of this property whose Agents they are, give notice that:
- The Particulars are set out in general outline only for the guidance of intending purchasers and do not constitute part of an offer or contract. Prospective purchasers should seek their own professional advice.
- All descriptions, dimensions and areas, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact and must satisfy themselves by inspection or otherwise as to the correctness of each of them.
- No person in the employment of JD Commercial has any authority to make or give any representation or warranty whatever in relation to this property or these particulars nor to enter into any contract relating to the property on behalf of JD Commercial, nor into any contract on behalf of the Vendors.
- No responsibility can be accepted for any expenses incurred by any intending purchaser in inspecting properties which have been sold, let or withdrawn.
Property Misdescriptions Act 1993
- All measurements are approximate.
- While we endeavour to make our sales particulars accurate and reliable, if there is any point which is of particular importance to you, please contact JD Commercial and we will be pleased to check the information for you, particularly if contemplating travelling some distance to view the property.
- We do our utmost to comply with this Act in full. However we are also trying to represent our clients’ properties in their high possible light, as such we may use summer photographs to promote some properties.
By strict appointment through the selling Agents, JD Commercial, 42 Ridgeway Drive, Bideford, North Devon. EX39 1TW
TEL: (01237) 424053 / 07868 846357 E-MAIL: [email protected]
With a resident population of around 32,000 including nearby villages, Bideford is the second largest town in North Devon, and the town has a reputation as a pleasant place to live, work and visit. In recent years Bideford has benefited from lots of investment and development, including the ongoing Atlantic Park retail area and improvements to the historic town centre and quayside, and the current Local Plan allows for a further 4,000 homes plus leisure facilities. Bideford is within 3 miles of some well-known North Devon locations such as Appledore, Westward Ho!, Instow and Northam and only 9 miles from the area’s commercial centre of Barnstaple. It is also within a half-hour’s drive of Exmoor National Park, the beaches around Woolacombe, Croyde and Saunton, and the Devon-Cornwall border.
The unit is situated on part of the Clovelly Road Industrial Estate, known as Daddon Moor Business Park, just off the A39, close to the Atlantic Retail Village and ASDA Supermarket. There are a variety of mixed users on the industrial estate including the Plumb Centre and City Plumbing Supplies.
Our client is inviting offers for the Freehold interest which includes a small parcel of land to the side of the premises, with potential for additional income or development, subject to planning permission. The Freehold interest also includes ownership of the other 9 units on Daddon Moor which has been sold off on long leasehold basis. The property is sold with the benefit of the existing lease, gymnasium business unaffected, at a current rent of £20,000 per annum, on a 10 year lease term with approximately 5 year remaining.
It should be noted that a service charge is levied on the Estate which last year was £200.
We are verbally advised by the Local Rating Authority that the premises are currently assessed as follows:- Rateable Value (2017 Listing): £21,000.
ENERGY PERFORMANCE CERTIFICATE
Please contact the agents for a copy of the Energy Performance Certificate and Recommendation Report.
Each party is to bear their own legal costs.
It should be noted that VAT is applicable on the sale, at the prevailing rate.