• Strategically located in the Thames Valley
• Affluent South East location
• Established road links to the South East, Central London and the Midlands
• Four modern industrial units, comprising GEA 29,232 sqft (2,715.7 sqm)
• Let to Molins Plc for a further 6.7 years, with a current rent passing of £250,399 per annum
The subject property comprises a terrace of 3 light industrial units and a fourth unit within the opposite terrace. The units are of steel portal frame construction, with insulated steel profiled cladding under barrel vaulted roofs.
Each unit provides a minimum eaves height of 7.5 meters with ancillary office accommodation situated at the front of the units alongside full height roller shutter doors providing access to the warehouse area. The yard, loading area and car parking is at the front of the units providing a total of 51 car parking spaces.
The tenant has extensively fitted out unit A1 into office accommodation on ground and first floors, and has additionally undertaken various alterations including the installation of mezzanine storage and racking.
The units are prominently situated at the front of Regent Park, on Summerleys Road, as part of the mixed office and industrial Princes Estate. Opposite the estate lies the European Head Quarters of Ercol Furniture and a 5.7 acres (2.3 hectare) development site.
Regents Park comprises an attractive modern business park made up of terraced industrial units, and eight office units in two terraces. Developed in 2009 by Welbeck Land to a high specification, the estate attracts a range of occupiers which include; Beechdean Motorsport, Astles Control Systems, Aircon Services, Aircraft Materials and Ercol Furniture.
Let to Molins Plc on four coterminous leases on full repairing and insuring terms, subject to a Schedule of Condition, for 10 years and 6 months from the 7th December 2010, expiring on the 6th June 2021, providing 6.7 years unexpired. The current rent passing totals £250,399 per annum reflecting £8.57 psf (£92.2 psm), and is subject to 5 yearly upwards only review to the open market, the next being 7th December 2015.
Freehold Offers sought in excess of £3,160,000 (Three Million One Hundred and Sixty Thousand Pounds) reflecting an attractive net initial yield of 7.50% and a Gross Capital Value of only £115 per sqft, assuming purchaser’s costs of 5.80%.
Unit / Floor Size SQFT Description A1 8,120 A2 7,971 A3 10,544 B1 2,597 Total 29232
Access Parking : Yes Number of parking places : 51 Princes Risborough is approximately 40 miles (64 km) north west of Central London, 23 miles (37 km) east of Oxford and 9 miles (14 km) north of High Wycombe.
Being positioned in the Thames Valley, Princes Risborough benefits from being close to major transport links including, Junction 6 of the M40 within 9 miles (14 km) to the south west via the B4009 and Junction 4 to the south via the A4010. Junction 16 of the M25 is 21 miles (34 km) to the south east via the M40.
The rail network, Chiltern Main Line, provides direct access to London Marylebone in a fastest journey time of 37 minutes, Birmingham Snow Hill in 1 hour and 34 minutes, High Wycombe in 10 minutes and indirect access to Oxford in a little over 1 hour. In addition, Princes Risborough is only 28 miles (45 km) north west of Heathrow Airport, the world’s busiest international airport.
|National rail||0.4m||Princes Risborough|
|Nearest airport||37.2m||London Luton|
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