Cranborne House and Summit House, Cranborne Rd, Potters Bar, EN6 3JN

Cranborne House is a mid-1980 four-storey, concrete frame building providing a total of 149,690 sq ft (13,906 sq m) of accommodation. The property was formerly a toy factory for Mattel but now serves as multi let industrial property. It features brick elevations, concrete slab floors and a shallow pitched roof with translucent panels, allowing for natural light. The building is primarily rectangular in layout but set at an angle to form a broad L-shape configuration.
( Agency Pilot Software ref: 14343 )

Location

The subject property is situated approximately 1.2 miles (1.9km) north of Potters Bar town centre, along Cranborne Road. The surrounding area is made up of light industrial units of varying sizes with limited space for expansion. The Cranborne Industrial Estate is bounded to the east by the railway line serving the town. The estate is the largest industrial concentration within the town and is home to all the main occupiers being QED Productions, Wolseley, Rolls Royce, TSG and Howdens. Potters Bar is a well-connected town in Hertfordshire, strategically positioned just north of Greater London and forming part of the commuter belt. It benefits from excellent transport links, making it a highly accessible location for both businesses and residents.

Accommodation

202,743 sq ft over 2.6 acre

Terms

VAT The property has been elected for VAT. Therefore the sale will be treated as a transfer of a going concern (TOGC).

EPC Full EPC report and certificates are available in the Dataroom. There are a number of initiatives that can be undertaken to improve the EPC rating, as outlined below. Further details can be provided on request.

Data Room A full dataroom is available upon request.

AML In Accordance with Anti-Money Laundering Regulations, two forms of ID and confirmation of the source of funding will be required from the successful purchaser.

Specification

• Highly Reversionary South East Industrial and Storage facility
• Very well located in a highly affluent London satellite town
• Strong strategic location close to J23 M25 and A1(M) and good access into central London
• Two complementary buildings covering 202,743 sq ft over 2.6 acres
• Total passing rent of £1,101,952 per annum with an average rent of £5.53psf ERVs in excess of £7.00psf.
• New build units commanding rents in excess of £15.00psf