The property comprises a twin bay detached industrial unit with two storey office accommodation along the front elevation. The unit is a steel portal frame construction beneath a pitched profile sheet metal clad roof.
The unit benefits from four roller shutter doors, 6 metre eaves and 35 allocated car park spaces.
To the rear there is a large concrete yard. The premises are bounded by palisade fencing.
Location
The premises are located within the well-established Cotes Park Industrial Estate, which lies to the south of the A38, providing access to Junction 28 of the M1 motorway, approximately 2.5miles to the east. Continuing along the A38 in a westbound direction leads to Derby city centre, approximately 15 miles south west.
The property is situated fronting West Way and is in close proximity to a range of established occupiers including Royal Mail (next door), UPS and Eurocell.
Accommodation
Ground floor office - 395.30 sq m (4,255 sq ft)
First floor office - 374.97 sq m (4,036 sq ft)
Production area - 798.34 sq m (8,593 sq ft)
Workshop area - 660.87 sq m (7,113 sq ft)
Dispatch area - 776.32 sq m (8,356 sq ft)
Total - 3,005.00 sq m (32,353 sq ft)
Two mezzanine structures are incorporated in the despatch area totalling 552.25 sq m (5,944 sq ft).
(Measurements are quoted on a gross internal basis in accordance with the RICS Code of Measuring Practice, 6th Edition).
SITE AREA - We understand the total site area to be 3,687 acres (1.492 ha).
Terms
TENANCY - The lease is granted to Amber Precast Ltd (Company No: 08363804), part of Hughes Armstrong Corporate Investment PLC, with a guarantor from Advance Construction Engineering (Company No: 09038431).
TERM - Unbroken10 year term from 5 August 2016.
RENT
Year 1 - £XXX
Year 2 - £XXX
Year 3 - £XXX
Year 4 - £XXX
Year 5 - £XXX
Rent payable quarterly in advance.
RENT REVIEW - Upwards only on the 5th anniversary of the term.
TENURE - Freehold
Specification
- Modern premises within prime industrial location
- 32,354 sq ft (3,005 sq m) with additional mezzanine
- Low site density of 20%
- Unbroken 10 year lease from August 2016
- Headine rent of £XXX per annum exclusive
- Net initial yield of 7.36%
- Offers sought in the region of £XXX