Prime Industrial Investment Sale
For sale - £400,000 Offers in the region of 3,203 Sq Ft (297.56 Sq M)
Unit 8, Cliffe Court, George Summers Close, Medway City Estate, Rochester, Kent, ME2 4GU
UNDER OFFER
Property description
The unit forms part of Cliffe Court, a development of 8 basically similar business units arranged in two terraces of 4. Unit 8 is end of terrace at the front of the estate.The unit is of a steel frame construction, spanning from front to rear and thus providing clear span accommodation. The lower front elevations are faced in brickwork, assumed to be of conventional cavity construction, with the remainder being faced in coated profile metal cladding. This is apparently of double skin construction, presumably incorporating insulation. This latter material has also been used for the roof covering, which incorporates double skin roof lights to provide daylight within the properties.The unit has independent commercial access by way of a sectional up and over door. It also has separate personal access from the front, with a fire escape at the rear. The development stands a little above surrounding ground level, presumably arising from ground improvements as part of the development process. The rear fire doors are therefore served by a small number of steps. The doors and windows to the lower front elevation are double glazed. Party walls are partly formed in blockwork and partly of framed panel construction.Based on accessible areas, we calculate the eaves height to be approximately 5.39 metres.Externally, the unit is provided with 2 parking spaces within the forecourt. The apron approaching the shutter doors is formed in concrete.The unit is understood to have the benefit of mains water, 3-phase electricity and drainage, together with the usual telephony and data facilities. These services are assumed to have adequate capacity for any reasonable use to which the units could be put.Unit 8 is let and is currently utilised as a flooring suppler which includes a retail area for customers on the right hand side of the unit. To the left hand side of the ground floor is a warehouse/storage space. The Property also includes a mezzanine which is utilised as further storage and is accessed an internal staircase in the middle of the ground floor. To the rear is another mezzanine which is utilised as staff offices and is accessed via a metal staircase.
Location
The unit forms part of a small development of business units known as Cliffe Court. This has been constructed at the southern end of George Summers Close, towards the north-eastern outskirts of a substantial commercial development known as Medway City Estate. George Summers Close is approached by way of Anthonys Way. Anthony's Way and Sir Thomas Longley Road are the principal roads serving the estate. They provide ready access to the Medway Tunnel and the Northern Relief Road. These together with other roads effectively provide a bypass around the north of the Medway Towns, giving access to the M2 in the east and the A2 in the west. Ready vehicular access is therefore available to the principal highway network and in particular the northern part of the Medway Towns. The Medway City Estate is an established commercial area where some 2 million square feet of accommodation has been developed over the last 40 years or so. The estate lies to the north of Rochester City Centre and enjoys access to both Junctions 1 and?4 of the M2 motorway via the Medway Towns Northern Relief Road (A289) and the Medway Tunnel.
Accommodation
Ground Floor Sales: Area/ Warehouse/ WC/ Kitchenette: 1,946 sq ftMezzanine 1 (Please be aware this is the tenants fitout) Storage: 750 sq ftMezzanine 2 (Please be aware this is the tenants fitout) Office: 507 sq ftTotal Gross Internal Floor Area: 3,203 sq ft
Terms
To be sold as an investment sale with the current tenant on the following lease terms. Tenant: Kent Flooring UK Limited Landlord: BW SIPP Trustees Limited Rent: Initial Rent £21,650 pa Passing Rent: £6,450 per quarter (equating to £25,800 per annum) Term: 5-year Lease, from 16th November 2018 (expiring 15th November 2023) Rent Review: 15th November 2021 Break Options: 15th November 2021 subject to 6 months' notice period (Tenant only) Repair, Decoration & Insurance: Full Repairing and Insuring Lease (FRI) Permitted Use: Class B1 or B8 Security of Tenure Provisions: Yes, silent assumption (Inclusion of Section 24-28 Landlord & Tenant Act 1954)
Price
To be sold as a freehold investment sale for a price of £400,000
Rateable Value
The rateable value of the premises is currently £24,500Please note this is not the rates payable and purchasers are advised to contact the local rating authority over the actual rates payable.
Planning & Building Regulations
It is the responsibility of the purchaser or tenant to satisfy themselves that the intended use of the property complies with the relevant planning permission and building regulations in force at the time of the purchase or letting.
Legal Costs
Each party to be responsible for their own legal and other costs associated with the transaction.
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