The property comprises a detached double bay distribution/office premises with secure yard. The property is located on Millbrook Road within the established Stover Trading Estate accessed from North Road, the link to the Badminton Road (A432) which connects with the Avon Ring Road (A4174).
Location
The property is located on Millbrook Road within the established Stover Trading Estate accessed from North Road, the link to the Badminton Road (A432) which connects with the Avon Ring Road (A4174) and subsequently Junction 1 of the M32. The scheme also has a second access from Yate Road through the connecting & adjoining Beeches Industrial Estate. The scheme is located approximately 12 miles north east of Bristol City Centre with access to the M4 motorway via Junction 19 to the West and Junction 18 to the East. Yate Railway Station is within 0.5 miles
Accommodation
24,671 sq ft (2,290 sq m)
Terms
Lease The property is available by way of a new Full Repairing and Insuring Lease for a term of years to be agreed to incorporate 5 yearly upward only rent reviews to the greater of the passing, Open Market Rental or annual compound CPI to a minimum of 2% and maximum of 5% pa. The lease will be drafted outside the Security of Tenure Provisions of the 1954 Landlord & Tenant Act. Rent £250,000 per annum exclusive of Rates, Insurance, Service Charge and VAT.
Planning We are advised that the property has most recently been used for B8 Storage & Distribution uses under the Town & Country Classes Order 1987. The property is equally suited to Light or General Industrial uses subject to obtaining the appropriate planning consents being obtained. All applicants are advised to make their own enquiries with the Planning Department of South Gloucestershire District Council 01454 865 250 www.southglos.gov.uk requirements
Business Rates to establish the current use is suitable for their According to the Valuation Office Agency website the property has a Rateable Value of £156,000. Interested parties should make their own enquiries to South Gloucestershire District Council to ascertain the exact rates payable as a change in occupation may trigger an adjustment of the ratings assessment www.voa.gov.uk Code for Leasing For the latest RICS advice on commercial property leasing, please consult the RICS Real Estate Code for Leasing 2020.
Energy Performance Certificate An EPC has been commissioned and will be available for inspection.
Legal Costs Each party is to be responsible for their own legal costs.
References/Rental Deposits Financial and accountancy references may be sought from any prospective tenant prior to agreement.
Prospective tenants may be required to provide a rental deposit subject to the landlord’s discretion.
VAT Under the Finance Acts 1989 and 1997, VAT may be levied on the rent. We recommend that the prospective tenants/purchasers establish the VAT implications before entering into any agreement.
AML A successful tenant will be required to provide relevant information to satisfy AML requirements when Heads of Terms are agreed.