Lot

28

Unit 1, Phase 2, New Road Industrial Estate, Grace Road, Sheerness, ME12 1DB

Property Enquiries

Mat Harris

mat.harris@bidx1.com
+44 (0) 20 3929 8291

Viewing Registration / Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

Chris Grey

chris.grey@penningtons.co.uk
+44 (0) 20 7457 3000

Description

Map

Viewings


Property Summary
  • Long leasehold industrial investment
  • Let for 10 years with rent linked to RPI/OMV (whichever is the greater)
  • Totalling about 98.01 sq m (1,055 sq ft)
  • Suit investor
  • Producing £8,840 per annum gross (1)
Tenure

Long leasehold for a term of 125 years from 03/04/1985 (less 10 days) with 3 yearly rent reviews based on 10% of the rental value. Current ground rent £884 per annum (1) (see legal pack).

Location

Sheerness lies beside the mouth of the River Medway at the north west corner of the Isle of Sheppey in north Kent about 19 miles south west of Maidstone and 54 miles west of London. It is accessed via the A249, which provides access to junction 7 of the M20 motorway. Sheerness-on-Sea train station is about 0.5 miles from the property.

Situation

The property is located within Phase 2 of New Road Industrial Estate that consists of a total of 13 units and is located at the end of Grace Road off New Road in a mainly commercial area.

Description

A modern single storey industrial unit of totalling about 98.01 sq m (1,055 sq ft). There is vehicular access via two up and over roller shutter doors and externally there is parking for about 2-4 cars.

Accommodation
ADDRESS USE SIZE TENANT LEASE TERMS RENT PA REMARKS
Unit 1 Industrial 98.01 sq m (1,055 sq ft)

Mr C Penny

T/A Penny Roofing Ltd

10 years from 01/06/2018 £8,840 Rent reviews linked to higher of open market rent or RPI, whichever is the greater

The floor areas have been provided by the vendor.

Tenancy

Within the legal pack the vendor has provided comparable rental evidence, that they feel supports the rental level for this property. Prospective buyers should make their own enquiries.

Tenant Information

Established in 2012 Penny Roofing is a family run business based in Kent, that predominantly work within the south east of England and recently have sent up a team to Edinburgh as well as Denmark.

Planning

Swale Borough Council (01622 602736) www.swale.gov.uk

VAT
Please refer to Legal Documents
EPC

Rating 116 Band E


No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the vendor. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor.