- * Modern mid and end terrace industrial units with offices.
- * Subject to a 15-year FRI lease.
- * Passing rent £86,250 per annum (£7.99 per sq ft).
- * 20 car parking spaces.
Industrial investment opportunity - income generating workshop & office business unaffected
About this property
The property comprises a mid and end terrace light industrial units which has recently undertaken a light refurbishment. The property comprises two identical units which have been utilised as one with internal connecting access points. Internally, the units comprise a mixture of open plan warehouse space and offices to the front elevation.
Telford Road is located in the heart of Bicester's industrial area. Bicester is located on the M40, midway between Birmingham and London, approximately 12 miles north of Oxford and 4 miles from Junction 9 of the M40 which further connects to the A43 dual carriageway and the A41 trunk road. This provides excellent road and rail communications to London, Birmingham, Oxford and beyond.
Telford Road is situated in a prominent position on the Telford Road Industrial Estate, accessed off the Bicester internal ring road.
The property provides for the following gross internal areas:-
The premises has a combined rateable value of £58,500.
We understand that the property is connected to mains water, electricity, gas and drainage. We have not carried out tests of any of the services or appliances and interested parties should arrange their own tests to ensure they are in working order.
Strictly by appointment through sole selling agents, Brown & Co.
It is understood that VAT will not be applicable.
Each party will be responsible for their own legal costs incurred in this transaction.
Change header - Tenant Covenant
The property is offered for sale (freehold) subject to the lease of Goldcrest (Adhesive) Products Limited. Goldcrest (Adhesive) Products Limited have been trading in Bicester for a period in excess of fifty years and are are well established local family business. Their trading credentials were demonstrated by their continued trade during the Covid-19 period without the reliance of any government assistance including the furlough scheme. This has continued to grow since that period. The sale proceeds will be used to reinvest in the business and make some improvements to the property.
Trading accounts for the last three years will be available to those seriously interested parties once a viewing has been undertaken and initial due diligence has been completed on the purchaser. Please make contact with the selling agents regarding this matter.
The property is offered for sale by market treaty. The freehold interest subject to the lease outlined below is available with a guide price of £1,350,000. The property will be subject to a leaseback in favour of the following terms:-
* The tenant will be Goldcrest (Adhesive) Products Limited.
* A fifteen year lease with a ten year option to break the lease (tenant only).
* Rent reviews every five years on an upward only basis.
* Subject to a full repairing and insuring lease.
* The passing rent will be at £86,250 per annum exclusive (£7.99 per sq ft)
* The tenant will have ability to assign the lease as a whole or sublet in part only.