Commercial investment available for sale.
The property comprises three detached industrial units which date from the 1960s. Units 1 & 2 comprise two-bay warehouses of framed construction with masonry, with two storey offices and showrooms to the front. Unit 1 has eaves heights of 3.46m and Unit 2 has eaves heights of 5m. Unit 3 comprises a steel portal framed metal clad warehouse with eaves heights of 3.3-3.95m and a separate single storey office at the front. Each unit has its own seperate 3 phase power supply. Unit 3 in particular has a low site density which may be suitable for redevelopment (STP).
The Tenant has regularly maintained and invested in the buildings with modern crittall style windows and doors installed to the front elevations, new LED lighting to the warehouses and modern office and impressive showroom space.
By prior appointment with the sole selling agents who will be holding viewing days.
We are instructed to seek offers for the long-leasehold interests subject to the occupational lease at a guide
price of £2,500,000 (Two Million and Five Hundred Thousand Pounds). We are informed that the property is
elected for VAT.
• The property is offered by way of a sale and lease back
with The Garden Trading Company Ltd entering into a
new five new lease with an option to extend by three
• Garden Trading Company are an online retailer with a Dun & Bradstreet credit rating of 2A2.
• In 2020 the tenant company made a pre-tax profit of £2.0m and are a wholly owned subsidiary of Joules Plc.
• The gross rent received is £280,000 pa. The tenant has invested significant capital expenditure into the buildings including customer showroom and upgraded offices.
• The occupational lease is Fully Repairing and Insuring with reference to a Schedule of Condition.
• Additional income from telecoms mast of £5,292 pa.
• Rare industrial investment opportunity in Oxfordshire.
• The guide price reflects a net initial yield of approximately 8.65% allowing for purchasers costs and a low capital rate of £59.42 per sq ft.
Held on three co-terminus Long Leasehold titles with a lease expiry in September 2163 (143 years unexpired).
The current ground rent payable is £55,275 per annum which is reviewed on a five yearly basis.
EPC Rating is C (64)
|Floor / Unit||Type||Size||Status|
|Unit (1A/B)||Industrial||16685 sq ft||Available|
|Unit (2A/B)||Industrial||17784 sq ft||Available|
|Unit (3)||Industrial||12173 sq ft||Available|