UNDER OFFER
The accommodation comprises a single storey mid terrace industrial/warehouse unit of portal frame construction providing a clear space with an exceptional minimum headroom of approx. 6 metres, ideal for racking or mezzanine floors.
The unit is served by a manual loading door measuring 4m high by 2.5m wide, opening onto the front loading and parking area.
There is a ground floor office, WC and tea point at the front of the unit.
Location
Stevenage is 30 miles north of London and accessed via Junction 7 & 8 of the A1(M). It is located between Luton and Stansted Airports which are both easily accessible.
A modern new town with a population of over 80,000 Stevenage has an extensive efficient internal dual carriageway system and a fast Intercity (19 minutes) non-stop rail service to London King's Cross.
It has a particularly high-tech business base with occupiers including MBDA, Astrium, GSK and Fujitsu.
Bowman Trading Estate is situated in Bessemer Drive just off Gunnels Wood Road the centre of the principle industrial and commercial area. It is within walking distance of the station and town centre.
The estate includes a number of 'trade counter' users including Plumb Centre.
Accommodation
Approximate Floor Area - 1,400 sq ft
There are 2/3 car spaces at the front of the property with doubling up potential and use of the estate parking areas.
Terms
LEASE TERM - The property is held on a lease expiring 28 September 2025 to Sally Salon Services Ltd at a rent of £16,164 per annum with a break and open market rent review in September 2020.
It is held on full repairing and insuring terms.
The tenant is responsible for the payment of business rates, utilities and reimburses the landlord's costs of insurance and estate service charges when applicable.
Lease documentation is available on request.
The accounts of Sally Salon Services Limited to 30 September 2016 show a turnover of £148m and pre-tax profits of £5.6m.
This appears a particularly secure covenant status for a property of this size.
PRICE - Our clients are inviting offers for the freehod interest with the benefit of the existing lease in the region of £270,000 plus VAT.
This represents an intitial yield of 6.00% before cost of acquisition.
2017 RATEABLE VALUE - £8,900
EPC - Category C (57)
Specification
- Rent £16,164 p.a. on a lease expiring 28 Sept 2025
- Tenant Lease Break and Rent Review September 2020
- Price £270,000 giving an initial yield of 6% before cost