Description
Wimborne Minster is a popular and affluent Dorset market town. The town is situated just off the A31 with excellent road connections to nearby Ferndown, Bournemouth/Poole, and Blandford Forum.
The site is accessed via St Margaret's Hill, B3082 from Blandford or B3078 from Wimborne.
The subject site is a self-contained section of the Stone Lane industrial Estate, which in total extends to circa 4 acres. The site was developed in the 60's and 70's and is understood to have originally been a brickworks.
Units, 2, 3, 3a, 4, 5 and 6 are situated at the northern end of the estate road behind a secure gated entrance.
The site has a good level of external space and future asset management opportunities.
Accommodation
Unit 2 - 5,220 sq.ft (485 sq.m)
Mezzanine - 750 sq.ft (70 sq.m)
Detached garage- 200 sq.ft (18.5 sq.m)
Unit 3A and 3B- 3,345 sq.ft (310.84 sq.m)
Unit 4 - 3,068 sq.ft (285.20 sq.m)
Mezzanine - 564sq.ft (52.43 sq.m)
Unit 5 - 3,510 sq.ft (326.25 sq.m)
Mezzanine - 635sq.ft (59 sq.m)
Unit 6 - 4,756 sq.ft (442 sq.m)
Mezzanine - 635 sq.ft (59 sq.m)
Total Internal Area - 22,683 sq.ft (2,108 sq.m)
Planning
Interested parties are advised to make their own enquiries of the Local Authority for confirmation.
EPC Text
Asset Rating -
Rating
Rateable Value:
Unit 2 £26,250
Unit 3a £7,800
Unit 3b £11,750
Unit 4 £17,250
Unit 5 £18,500
Unit 6 £18,500
Source www.voa.org.uk The 2023/2024 small business multiplier is 0.499 (XXX payable per £1). This determines what business rates are payable. All parties are advised to make their own enquiries for confirmation. *If you qualify as a 'small business' you may be eligible for substantial relief in connection with business rates payable. We advise all parties speak to the local authority in the first instance for confirmation.
Terms
Seeking offers in the region of £1,700,000, subject to contract and exclusive of VAT, reflecting a net initial yield of 5.85%, after assuming buyer's costs of 6.18% A purchase at this level reflects £75 per sq.ft
Unit 2
Let by way of a lease dated 10 May 2017 to Custom Marine Limited (Co. No07994202) and Mr N. C. Williamson as guarantor.
Term six years from 10th May 2017, expiring 9th May 2023 reserving a current rent of £32,760 per annum. The lease is excluded from the security of tenure provisions of the LTA 1954, Part II.
There is a licence to alter for tenant works dated 2017. The lease provided three yearly upward only rent reviews and had a mutual landlord and tenant break in 2020, which has passed.
Rent deposit held.
Units 3A and 3B
Let by way of a lease dated 20th February 2018 to S.C. Farrell
Term six years from 4th January 2018, expiring 3rd January 2024 reserving a current rent of £18,865 per annum. The lease is excluded from the security of tenure provisions of the LTA 1954, Part II.
The lease is subject to a schedule of condition in relation to Unit 3a dated 2014.
The lease provided three yearly upward only rent reviews and had a mutual landlord and tenant break in 2021, which has passed.
Unit 4
Let by way of a lease dated 26th October 2017 to TG Welding Limited (Co. No. 02676155)
Term six years from 26th October 2017, expiring 25th October 2023 reserving a current rent of £13,000 per annum. The lease is excluded from the security of tenure provisions of the LTA 1954, Part II.
The lease provided three yearly upward only rent reviews and has a mutual landlord and tenant break subject to 12 months' notice.
Rent deposit held.
Unit 5
Let by way of a lease dated 29th April 2022 to Benchmarque Designs Limited (Co.No. 03603084) and Mr M. P. Batchell.
Term six years from 10th May 2020, expiring 9th May 2026 reserving a current rent of £18,500 per annum, subject to upward only open market rent review May 2023. The lease is excluded from the security of tenure provisions of the LTA 1954, Part II.
The lease provides a mutual break on 10th May 2023 subject to 6 months' notice.
Unit 6
Let by way of a lease dated 12 December 2018 to Custom Marine Limited and Mr. J.H.S.Payne.
Term six years from 24th June 2018, expiring 23rd June 2024 reserving a current rent of £22,400 per annum. The lease was subject to a review and mutual break in 2021.
There is a deed of variation dated10 January 2022 as well as a rent deposit deed and licence for alterations dated 10 January 2022.
The lease is excluded from the security of tenure provisions of the LTA 1954, Part II.
Total Income reserved £105,525 per annum.
( Agency Pilot Software ref: 8251 )