Lot

61

Strongbox Storage Warehouse and Site, Bahama Road, Haydock, St Helens, WA11 9XB

Property Enquiries

Oliver Childs

oliver.childs@bidx1.com
+44 (0) 20 3929 8289

Viewing Registration / Enquiries

BidX1 Support Team

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

Vendor Lawyer

James Williams

jameswilliams@eversheds-sutherland.com
0161 831 8563

Description

Map

Viewings


Property Summary
  • Reversionary freehold warehouse ground rent investment
  • The warehouse building has been sub-divided into 133 storage units
  • 124 leases each granted for a term of 250 years from 2013/2014
  • Site area 0.348 hectares (0.859 acres)
  • Rent review 2023 and 10 yearly to RPI
  • Ground rent paid up to date including current year 2019/2020
  • Leases are owned by 4 pension schemes
  • Current ground rent £18,400 per annum
  • Fixed uplift in 2023 to £36,800 per annum
Tenure

Freehold

Location

Haydock is located 16 miles east of Liverpool, 23 miles west of Manchester and 10 miles north of Warrington.  Haydock Lane Industrial Estate is situated just to the north of East Lancashire Road (A580), less than a mile from the M6 motorway (junction 23). The property is situated on the west side of Bahama Road.  Nearby occupiers include Costco, Hertz, Booker and Sainsbury’s.

Description

The property comprises a warehouse building of approximately 838.44 sq m (9,025 sq ft).  The building has been subdivided into 133 storage units and includes office space plus a service yard and parking area.  There is an enclosed service yard and parking area to the front and side of the property.  The site area is approximately 0.348 hectares (0.859 acres).

Tenancy

Please refer to the legal documentation for a copy of the full tenancy and ground rent schedule

VAT
Please refer to legal documents
Property Table
TenancyNumber of Storage UnitsSq MSq FtRent (£pa)Total Rent (£pa)
124 lease each for a term of 250 years from 2013/2104 (1) (2) (3)

31

36

27

29

6

4

2.3

4.65

6.7

9.3

13.9

18.6

25

50

75

100

150

200

£50

£100

£150

£200

£300

£400

£1,550

£3,600

£4,050

£5,800

£1,800

£1,600

TOTAL13355.45600£1,200£18,400

(1) Rent review in 2023 and 10 yearly thereafter to RPI. Fixed uplift in 2023 to £36,800 per annum.

(2) There is a management company, Strongbox Self Storage Limited, that operates the storage business from the premises. Further information can be found at www.strongboxselfstorage.co.uk.

(3) The Administrators have recovered £18,400 for the current year and £18,400 for 2018/2019. The leases appearing on the freehold title at the Land Registry indicate c.£17,000 pa is payable with the balance of the £18.400 being paid over for use of the unlet units. Brambles Administrator Limited, who act as agent on behalf of the pension schemes and pays over ground rent on behalf of the schemes have advised the Administrators that they will make arrangements for the Land Registry to be updated to consolidate the registered proprietors of the ground rent generating leasehold titles into professional trustees.

EPC

Refer to the legal pack

*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted \"subject to contract\". Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
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