Investment Opportunity - Modern industrial/warehouse investment on well located expanding estate. Approx 1,396 sq ft (129.7 sq m)
| Passing rent: £10,500 per annum
| Gross initial yield 6.56%
| 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 mid terraced industrial/warehouse unit with part brick/block and part profile steel clad elevations under a pitched roof. The Unit has been fitted with a steel mezzanine with chipboard floor which spans approximately half the ground floor area. There is a disabled WC on the ground floor and also a small kitchenette facility. Loading is via a sectional up-and-over loading door. Two parking spaces are allocated to the property.
Approximate Gross Internal Areas
Ground floor 86.6 sq m (932 sq ft)
First floor 43.1 sq m (464 sq ft)
Total 129.7 sq m (1,396 sq ft)
Minimum eaves approx 6.0 m (198)
Loading door (3.0 m (w) x 4.0 m (h))
Height to underside of mezzanine 3.0 m (910)
Let on a full repairing and insuring lease for a term of five years from 12 August 2014 to Mr A G Rogers and Ms J L Rogers at a rent of £10,500 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 tenant is a sole trader and trades as Wessex Carpets. There is a rent deposit of £3,150.
£160,000 reflecting a gross initial yield of 6.56% VAT will be applicable on the sale unless sold by way of a transfer of a going concern (TOGC).
The current service charge for the maintenance and upkeep of the common areas of the Estate is £179.85 plus VAT per quarter. This is payable by the tenant.
Rateable Value £8,300
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.