The premises provide a 1990s designed purpose built semi-detached industrial unit being of steel portal framed construction incorporating part brick and blockwork detailed elevations with a further metal plastic coated cladding on both walls and roof, the latter incorporating 10% translucent light panels.
The minimum eaves height is approximately 17ft 3ins (5.25m) with a concrete floor. There are two electrically operated roller shutter access doors.
Outside, there is an enclosed yard and car park with gated access, together with a loading canopy of approx 2,279 sq ft (211 sq m).
Location
The premises are located next to Wickes DIY within the Hollies Park development with direct access from the A5190 Lichfield Road, approximately 1/4 mile east of Cannock town centre. Cannock benefits from good road communications with a direct link to T7 of the M6 Toll Road, the A5 and both junctions 11 and 12 of the M6 motorway are approximately 2 miles equidistant.
Accommodation
All measurements are approximate:
| Ground Floor | | |
| Warehouse | 9,042 sq ft | ( 840.0 sq m) |
| Reception & stores | 2,411 sq ft | ( 220.9 sq m) |
| | | |
| First Floor | | |
| Mezzanine | 2,583 sq ft | ( 240.0 sq m) |
| Office & stores | 2,411 sq ft | ( 220.9 sq m) |
| | | |
| Total Area | 16,447 sq ft | (1,527.9 sq m) |
| | | |
| Outside | | |
| Loading Canopy | 2,279 sq ft | (211.7 sq m) |
| Secured Yard Area | 8,815 sq ft | (818.9 sq m) |
Terms
COVENANT
Gentili United Kingdom Ltd (Company No.: 08894670) was incorporated in February 2014 and according to the Red Flag Alert Credit Agency has a Bronze health rating. A copy of the Red Flag Alert Credit Report is available upon request.
TENANCY
The property is let to Gentili United Kingdom Ltd on a 5 year lease from 1st October, 2024 at an initial rent of £70,835 per annum. The rent increases to £85,000 pa with effect from 1st October, 2025. The vendor proposes to top up the first years rent to be in line with the second years' figure. The lease is contracted outside the security provisions of The Landlord and Tenant Act 1954 Part II and the repairing obligations are limited by a photographic schedule of condition. There is a rent review at the end of the third year of the term and the tenant has the option to terminate the lease at the end of the second year of the term subject to 3 months prior written notice. A copy of the lease is available for inspection at the agent's office.
PURCHASE PRICE
We are instructed to seek offers in the region of £1,250,000 (One Million Two Hundred & Fifty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this price would reflect a Net Initial Yield of 6.4% assuming purchaser's costs of 6.3%.
Specification
- Approximately 2 miles from Junction T7 of the M6 Toll Road
- Total Gross Internal Area 16,447 sq ft (1,528 sq m)
- Next to Wickes DIY
- 1990s Designed Semi-Detached Industrial Unit
- Palisade Fenced and Gated Yard / Car Park
- EPC Rating E-102
- Offers Invited in the region of £1,250,000