The property comprises two vacant, detached, industrial/warehouse units of steel portal frame construction with concrete floors throughout, which have recently been operated as a single site, but could easily be occupied independently of each other.
Unit 1
Comprises a three bay unit with insulated profile metal clad elevations and roof with translucent roof lights.
The industrial accommodation benefits from LED lighting, gas warm air blowers and five electronic level access loading doors.
The clear internal height is 6m rising to 7m at the apex.
Each bay benefits from craneage with a maximum capacity ranging between 3 and 10 tonnes.
Office accommodation is provided over two floors to the front of the unit and is of a good specification, with double glazed aluminum windows, suspended ceilings and perimeter wall trunking. Temperature control air conditioning units are also present throughout.
Externally, the property has car parking to the front and a rear / side yard of concrete construction, with loading canopy, external racking and weighbridge.
The unit also benefits from dual vehicular access points to the northeast and south of the site.
Unit 2
Comprises a three bay unit of similar specification to Unit 1, benefitting from insulated profile metal clad elevations and roof with translucent roof lights.
The industrial accommodation benefits from LED lighting, gas warm air blowers and six electronic level access loading doors.
The clear internal height is 6m rising to 7m at the apex.
Each bay benefits from craneage with a maximum capacity ranging between 2 and 10 tonnes.
The office accommodation is over the ground floor only and is of a basic specification in need of refurbishment.
Externally, there is car parking to the front, and a yard to the rear and side of concrete construction with external racking to part.
There is a single vehicular access point to the south of the site.
Location
The property is located within Ridgacre Enterprise Park,an established industrial location to the northwest of West Bromwich Town Centre. West Bromwich forms part of the Black Country region of the West Midlands,which is centrally located and benefits from good accessibility to the national road network.
The A41 Black Country New Road is 0.5 mile to the south, which provides direct access to the M5 Motorway via Junction 1 (2 miles distant). Junction 9 of the M6 Motorway is also within close proximity, being 3.5 miles to the north.
Birmingham City Centre is 8 miles to the southeast and Wolverhampton 8 miles northwest.
Accommodation
The property provides the following gross internal area:
Unit 1
Industrial/Warehouse - 2,268.9 sq m (24,423 sq ft)
Offices/Ancillary - 616.9 sq m (6,641 sq ft)
TOTAL - 2,885.9 sq m (31,064 sq ft)
Canopy - 367.9 sq m (3,961 sq ft)
Unit 2
Industrial/Warehouse - 2,468.0 sq m (26,566 sq ft)
Offices/Ancillary - 358.0 sq m (3,854 sq ft)
TOTAL - 2,826.0 sq m (30,419 sq ft)
TOTAL UNITS 1 & 2 (exc. Canopy) - 5,711.9 sq m (61,484 sq ft)
Total site area approximately 3.02 acres (1.22 hectares).
Terms
TITLE & TENURE - The property is held by way of 2 long-leasehold titles. Both leases were granted for a term of 99 years from 25th March 1980 providing an unexpired term of approximately 55 years.
The current rent payable for Unit 1 is £17,900 per annum and this is subject to 5 yearly reviews based on 50% of the rental value of the demised land as a vacant site (having regard to the terms of the lease).
The current rent payable for Unit 2 is £37,499 per annum and this is subject to 5 yearly reviews based on the rental value of the demised land as a vacant site (having regard to the terms of the lease).
Copies of the leases are available within the Marketing Pack.
The Freeholder is Sandwell Borough Council. We are advised that they are open to extending the leases.
BUSINESS RATES:
Rateable Value (Units 1 & 2): £204,000
Estimated Rates Payable p.a. (23/24): £104,448
Interested parties are to rely on their own enquiries with the local authority.
PLANNING - We assume the properties have planning consent for their current General Industrial (B2) use.
EPC:
Unit 1 has an EPC rating of C (63)
Unit 2 has an EPC rating of C (61)
SERVICES - We understand that all mains services are connected, but none have been tested. We are advised that the units benefit from independent mains services. Interested parties are to rely on their own enquiries.
OFFERS - Offers in the order of £3 million are invited for the two long leasehold interests.
Offers for the individual units will be considered.
COSTS - Each party is to be responsible for their own professional costs incurred as part of the transaction.
VAT - VAT will be chargeable in addition to the purchase price.
Specification
- TWO VACANT LONG LEASEHOLD INDUSTRIAL / WAREHOUSE UNITS
- 61,484 SQ.FT. (5,712 SQ.M) ON 3.02 ACRES (1.22 HECTARES)
- FLOOR AREA APPROXIMATELY EVENLY SPLIT BETWEEN THE 2 UNITS
- ESTABLISHED INDUSTRIAL LOCATION 0.5 MILE FROM BLACK COUNTRY NEW ROAD AND 2 MILES FROM JCT 1 OF THE M5
- SECURE SELF-CONTAINED SITE CAPABLE OF SUB-DIVISION
- SUITABLE FOR OWNER OCCUPATION OR INVESTMENT / ASSET MANAGEMENT
- OFFERS IN THE ORDER OF £3 MILLION INVITED
- OFFERS FOR THE INDIVIDUAL UNITS WILL BE CONSIDERED