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).
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.
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.
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.
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.
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.
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.
Swale Borough Council (01622 602736) www.swale.gov.uk
Rating 116 Band E
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