Commercial
FOR SALE BY AUCTION: THURSDAY 16TH APRIL 2015
AT IPRO STADIUM, DERBY
COMMENCING AT 11.30 AM
DRAFT DETAILS ONLY.
Oaktree Business Park is situated just to the west of Swadlincote having prominent frontage to A514 Cadley Hill Road and William Nadin Way. The area is included within the National Forest, the A444 trunk road with fast access to the M42 is within a very short distance.
Each unit extends to approximately 860 sq ft (80 square metres) and has the benefit of electrically operated internal security shuttering to all windows and doors plus integral vertical blinds, full gas fired central heating via a combination boiler, disabled wc facility plus additional wc, modern fitted kitchen and lobby areas. Each unit has its own front and side/rear door, and exclusive use of five dedicated parking bays per office suite. Unit 8 has also got gated longer-term parking for an additional three vehicles.
It should be noted that each office has the advantage of a rateable value of less than £6,000 and therefore benefits from business rates relief.
General Specification per Office
- Fully carpeted office and lobby. Vinyl floored wc's and kitchen unit
- Fitted towel rails, toilet roll holders, vertical window blinds, fire extinguishers, etc
- 'World' electric hand dryers fitted in both wc's
- Aluminium framed double glazed window and door units in EPC finish
- Suspended ceilings with inset energy efficient lighting to latest LG7 standard
- Fire alarm and smoke detector system
- Sun pipe from south facing receptor in central two office units
- Generous mains power sockets provision
- DDA compliant with full ramp access
- Exterior photocell controlled low energy external lighting, supplemented by PIR switched floodlighting. Photocell switched parking area floodlighting
- Site cycle storage shelter
- Secured site
- Attractive fully fenced and gated courtyard parking area
- Landscaped areas
- Communications cabling/fibre optics fully ducted from main roadside allowing updates and additions without disruption. CAT5 cabling is installed in certain office units.
- Tenant of each office responsible for internal maintenance and repairs, plus share of service charges
Lease Details
Unit 5 is sold with the benefit of a lease, renewed in May 2014, expiring 30th April 2017 at a current rental of £10,125 per annum.
Unit 6 is sold with the benefit of a four year lease from October 2012 (expiring September 2016) at a current rent of £6,600 per annum, rising in October 2015 to £7,500.
Unit 7 is sold with the benefit of vacant possession; currently under offer to a potential tenant for occupancy from 1st June 2015 on a 3-year lease basis, Year 1 at an expected rent of £6,450 per annum, rising to £7,020 per annum for Years 2 and 3.
Unit 8 is currently owner occupied but will be vacant upon completion.
All rents quoted are plus VAT, and it follows that VAT will be applied to the sale price.
Vendors Solicitors/Licensed Conveyancers
Geldards LLP, Number One, Pride Place, Derby DE24 8QR telephone 01332 331631
Tenure
Freehold. Subject to leases.
Conditions Of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.
The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
Note
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash deposits.
The sale of all property is subject to a buyers fee of £750 (inc VAT).
*Guide Prices and Reserve Prices
Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, would ordinarily be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction. For a full definition of Guide Price and Reserve Price go to www.grahampennyauctions.com/glossary
FOR EPC'S AND LEGALS PLEASE SEE THE WEBSITE
SUPERB COMMERCIAL INVESTMENT PROPERTY
Four purpose built high quality self-contained office units
One currently owner occupied; two under lease producing £16,725 per annum rising; one vacant, currently under offer to a potential tenant for occupancy from 1st June 2015 anticipated to produce £6,450 rising
Potential full income exceeding £30,000 p.a.
EPC Ratings : All four Units rated: C
