Investment Opportunity - Business unit/office investment on well located expanding estate approx 1,020 sq ft (94.7 sq m)
| Passing rent: £7,950 per annum
| Gross initial yield 6.36%
| Established business
Glenmore Business Park is conveniently located off Shaftesbury Lane just south of the A350 Blandford by-pass and the A354 Salisbury Road. Salisbury lies approximately 22 milies to the north while the regional centre of Poole is situated aproximately 15 miles to the South. Blandford Forum is a thriving Georgian market town with a population of around 10,000 (2001 census). The town has benefited from considerable commercial growth in recent years. A new Lidl supermarket is currently being constructed nearby.
The premises comprise a modern, end of terrace two storey business/office unit of steel portal frame construction with part brick/block and part profile steel clad elevations under a pitched roof. Being situated at the end of the terrace the Unit has excellent natural light with uPVC double glazed windows over two aspects. The first floor is open to the eaves. There are two car parking spaces with the property.
Approximate Gross Internal Areas
Ground floor 49.5 sq m (533 sq ft)
First floor 45.2 sq m (487 sq ft)
Total 94.7 sq m (1,020 sq ft)
Ground floor with suspended ceilings
Fluorescent ighting to both floors
Let on a full repairing and insuring lease for a term of five years from 2 April 2014 to Mr W Cheesman at a rent of £7,950 per annum plus VAT. The lease has been contracted out of the security of tenure provisions of the Landlord and Tenant Act 1954 Part II. There are no break clauses or rent reviews within the lease. The Unit is occupied by TBC Print Services Ltd (the tenants company). There is rent deposit of £3,180.
£125,000 reflecting a gross initial yield of 6.36% VAT will be applicable on the sale unless sold by way of a transfer of a going concern (TOGC).
There is a service charge levied to cover the upkeep of the Estate and the current quarterly payment for Unit 15 is £135.27 plus VAT. This is payable by the tenant.
Rateable Value £6,900
All mains services are connected to the property.
Woolley and Wallis Commercial have not tested the services mentioned in these particulars.
Prospective purchasers must satisfy themselves as to the permitted planning uses for the property and also whether VAT is applicable to this transaction.