Britannia Buildings, Coventry Road, Burbage, Hinckley, LE10 2HL

Description



Investment comprising Showroom with Offices, Industrial and Former Mill Building



Location



The Britannia Buildings are located on Coventry Road, to the west of the village centre, south of Hinckley, a little over one mile from the M69 motorway. The location is a mixture of both commercial and residential properties and is a short walk from the village centre.



Services



Mains electricity, water and drainage are connected to the site.



Tenure



The Britannia Buildings are being sold as an investment opportunity with future redevelopment prospects.

Unit A - VACANT (rental value of £21,000 per annum)

Unit B and C - Let to Weblark Engineering Limited for a term of 9 years commencing on 21st September 2016 and expiring on 20th September 2025. The passing rent is currently £28,000 per annum. The lease is excluded from the L and T Act 1954.

Unit D - Let to Rebecca Dawe Photography Limited for a term of 9 years commencing on 24th June 2016 and expiring on 23rd June 2025. The passing rent is currently £15,000 per annum. The lease is excluded from the L and T Act 1954.

Unit D Subleases - The ground floor and second floor are both sublet and are excluded from the L and T Act 1954.

Unit E Telecoms Lease - Let to A P Wireless (UK) Limited for a term of 30 years from 31st March 2023, at a peppercorn rent. The lease is contracted out of the L and T Act 1954.




Planning



Building A is believed to fall within the E User Class as showroom/retail accommodation with ancillary offices.

Buildings B and C fall within the B2 (general industrial) planning use.

Building D - ground floor, consent granted for a creche/nursery June 2017 at App no. 17/00557/FUL.

Building D - second floor, planning consent granted for a yoga studio (D2) in December 2016. App no. 16/01107/COU.

Building D - first floor currently use photographic studio believed to fall within a Class E use.

Structure E - Telecoms equipment - planning consent was granted in January 2015 for alterations to the telecoms pole and ancillary equipment. App no. 14/01284/FUL.



Rent



The current rental income for the site is £43,000 per annum (exclusive) with an anticipated rental value of £64,000 per annum.



Rates



The rateable values for the current year are:

Unit A: £10,250
Units B and C: £22,000
Unit D Ground Floor: £8,400
Unit D First Floor: £5,400
Unit D Second Floor: £3,000



Legal Costs



Each party will be responsible for their own legal costs associated with the transaction.



EPC



TBA



Interesting Investment Comprising Showroom, B2 Industrial and Former Mill Building



Potential Rental Income £64,000 per annum - Currently Part Vacant



Interesting Redevelopment Opportunity



Gross Floor Area 18,215 sq.ft. (1692 sq.m.)



Site Area of .51 Acres



Price: Offers based on £950,000. No VAT
( Agency Pilot Software ref: 664 )