15-21, Insight Park, Welsh Road East, Southam, CV47 1NE

Summary

The property comprises:
A terrace of 6 Warehouses Currently occupied as one
Steel Portal Frame constructed to an eaves height of 5.8m
Solid Concrete Floor
Internal masonry walls with surmounted profile cladding system incorporating aluminium framed, double glazed windows
Hi Bay LED Lighting
Profile Cladding roof incorp Translucent Roof Lights
Solar Panels on roof which feed back into grid
4 x Electric Roller Shutter Doors
2 x Private Offices
Kitchen/canteen area
WC’s
Exclusive use of the area to the front of the building which is believed to provide parking for 10 plus cars
3 Phase Electric connected
Mezzanine storage area

Key Points

Services

We understand that mains electricity and water are connected to the building. Heating/cooling to the offices is by way of Air conditioning and heating to the warehouse is by way of fan blower heaters powered vis an LPG tank. Drainage connects into a communal Cesspit which the management company maintains via an estate service charge.

Interested parties are advised to satisfy themselves that this is the case and that they are in good working order. The agents have not tested any apparatus on site and therefore, cannot verify the conditions.

Planning

We understand that the property will have the benefit of planning permission for User Class E purposes. Interested parties are advised to make their own enquiries of Warwick District Council Planning Department on 01926 456760.

EPC

C 70 – A Copy of which can be made available upon request.

Business Rates

Estimated Rateable Value: £63,000
Estimated Rates Payable: £32,256

Service Charge

An estates service charge will be levied for the upkeep and maintenance of the estates including estate lighting and Cesspit.

Tenure

The property will be sold subject to a new 10 Year full repairing and insuring occupational lease to RGI Bus and Coach Refurbishment Ltd with break and review at the end of the fifth year of the term. This will be taken at a rental of £90,526.50 Per Annum which is reflective of a 7.14% Net Initial Yield.

The freehold of the property is available at a Fixed Price of £1,250,000 (One Million, Two Hundred and Fifty Thousand Pounds) plus VAT.

RGI Bus and Coach Refurbishment Limited specialise in bus and coach refurbishment and have clients such as Transport for London. Their Experian Credit Check shows Very Low Risk and accounts can be made available to interested parties subject to them entering into a Non Disclosure Agreement.

Location