Rare Opportunity to Acquire Freehold Land
Commercial Yard/Open Storage/Development Land/Light Industrial
A securely gated and fenced, self-contained, hardstanding commercial yard/site of circa 21,052 sq ft (0.48 acres) with the benefit of services. There are currently a number of light industrial units, open storage land and shipping containers on the site which are occupied by five tenants on an informal basis*.
Location
The site is located to the rear of Long Drive which is situated off the junction of Victoria Road, the main thoroughfare through the South Ruislip Commercial District. South Ruislip is served by London Underground (Piccadilly & Metropolitan Lines) and Chiltern Railways. The A40 Western Avenue is easily accessible at the Polish War Memorial junction providing access to central London, M40, M25 and the wider motorway network.
Accommodation
TENANCIES
*The property will be sold subject to five existing tenancies, three of which have been in place for a number of years and are without any formal lease agreements. A prospective purchaser will need to take this into consideration and seek legal advice before making an offer.
Unit - Size (Sq Ft)** - Tenant - Annual rent received p.a.
Unit 1 - 1,713 Sq Ft - Lowe Autos - £18,200
Unit 2 - 3,855 Sq Ft (Yard) - AD Haulage Services - £18,200
Unit 3 - 1,023 Sq Ft - Melik Autos - £20,800
Unit 4 - 1,209 Sq Ft - Vogue Autos - £20,800
Unit 5 - 1,215 Sq Ft - Illy Welder - £10,400
4 units on-site and 2 open storage yard all currently tenanted, producing an income of £88,400 per annum
**Sizes have been extracted from the VOA business rates valuations, interested parties are advised to carry out their own measurement surveys.
***Yard area measured using Promap.co.uk
Terms
TENURE
Freehold (50% shared ownership also available)
PRICE
Unconditional offers in the region of £1.5m are invited.
(Price will be subject to VAT if applicable)
TENANCIES
*The property will be sold subject to five existing tenancies, three of which have been in place for a number of years and are without any formal lease agreements. A prospective purchaser will need to take this into consideration and seek legal advice before making an offer.
Unit 1 - Let to Lowe Autos with an informal lease (holding over) at an annual rent of £18,200.
Unit 2 - Let to AD Haulage Services for a lease term of 2 years (outside 1954 Landlord & Tenant Act) at an annual rent of £18,200.
Unit 3 - Let to Melik Autos for a lease term of 1 year (outside 1954 Landlord & Tenant Act) at an annual rent of £20,800.
Unit 4 - Let to Vogue Autos with an informal lease (holding over) at an annual rent of £20,800.
Unit 5 - Let to Illy – Welder with an informal lease (holding over) at an annual rent of £10,400.
Total income per annum: £88.400
LEGAL COSTS
Each party to bear their own legal costs.
PLANNING Established commercial use.
Interested parties are advised to make their own enquiries with the London Borough of Hillingdon.
BUSINESS RATES
Interested parties are advised to contact the London Borough of Hillingdon to obtain this information.
Specification
Key Features