Summary
Unit 19 is a detached industrial unit with elevations of reconstituted blockwork under a pitched sheet metal roof. Internally the main building has been fitted out as a gym on both ground and mezzanine floor levels. The ground floor area includes a freestanding swimming pool.
To the rear of the unit is a self contained and separately let first floor office suite.
Within the extensive concrete yard area are currently 15 steel storage containers. 5 are occupied by third parties with the remainder either vacant or used by the vendor.
Key Points
Very low site coverage on plot of approximatley 0.896 acreCurrent gross income of £72,710 per annumPotential for greater use of site for increased incomeFreehold for sale£800,000 subject to contractTenancies
The property is held and is to be sold freehold, subject to the following occupations
Unit 19 is let to First Step GB Ltd (Company Reg No 05916104), for a term of 5 years and 6 months commencing 1st October 2025. The rent passing is £55,000 per annum which is subject to an upward only review on 1st October 2028. The lease is on full repairing terms. First Step GB Ltd has a Creditsafe Risk Score of 60; defined as "low risk".
Unit 19a is let Colas Rail Ltd (Company Reg No 02995525) by way of a lease extension for 6 years from 31st March 2025. The tenant may terminate the lease on any anniversary of the start date, but giving 2 months prior written Notice. The rent payable is £12,700 per annum inclusive of all outgoings aside from Business Rates. The lease is on internal repairing terms and excluded from the Landlord & Tenant Act 1954. Colas Rail Ltd has a Creditsafe Risk Score of 100, with a credit limit of £14,700,000.
Containers - 5 of the containers in the yard are let informally and currently produce an income of £5,010 per annum.
Price
£800,000 subject to contract. We are advised that the property elected for VAT and therefore VAT at the standard rate will be payable on the purchase price.
Rateable Values
The Valuation Office Agency website lists 3 Rateable Values for the site as follows -
"First Step UK, Unit 19 Leafield Way" Rateable Value £37,500
"Unit 19a, Leafield Way " Rateable Value £6,400
"Storage Units, 19c Leafield Way" Rateable Value £3,600
Energy Performance Certificates
The property has 2 Energy Performance Certificates registered against it.
"Unit 19 Leafield Way" - Rating of 61 in Band C. Expiry date 16th May 2034
"1st floor office, Unit 19 Leafield Industrial Estate" - Rating of 64 in Band C. Expiry date 26th July 2028.
Asbestos
An Asbestos Management Survey has been undertaken with no asbestos identified within the building. A copy of the Survey is available on request.
Legal Costs
Each party will be responsible for their own legal costs incurred in the sale.
Location
Corsham is a popular and expanding north Wiltshire town, located on the A4 approximately 9 miles east of Bath and 4 miles west of Chippenham. Both junctions 17 and 18 of the M4 motorway are easily accessible.
The well established Leafield Industrial Estate is the primary employment area of Corsham, located approximately 1.5 miles south west of the town centre. The Estate has many industrial and warehouse occupiers but a new "Padel People" leisure facility has recently opened in the next door unit.