Industrial Investment opportunity. Prime location, single let. Newly built detached warehouse totalling 22,920 sq ft. New 10 year FRI lease to Harrison Products Co Ltd. Initial rent of £194,820 per annum (£8.50 per sq ft).
Location
The town benefits from good communication links, with Junctions 6 and 7 of the M5 motorway accessible to the north west via the A44 and Junction 9 to the south west via the A46.
The A46 provides a direct link with Stratford-uponAvon, whilst the A44 connects Evesham with Chipping Norton and Oxford, via the A34, to the south east.
Evesham Railway Station offers a direct service to London Paddington with a fastest journey time of 1 hour 45 minutes.
Accommodation
Ground Floor Warehouse & Office 1,929.0 sq m (20,764sq ft )
First Floor 200.3 sq m (2,156 sq ft )
TOTAL 2,129.3 sq m (22,920sq ft )
Terms
Tenure The property is held Freehold.
Tenancy The property is let on FRI terms to Harrison Products Co Limited for a term of 10 years commencing 19 January 2023 and expiring 18 January 2033, subject to a tenant break option on 19 January 2028. The initial rent is £194,820 per annum, reflecting £8.50 per sq ft. There is provision for the rent to be reviewed at year 5, linked to the increase in CPI, subject to a 2-4% per annum collar and cap. Minimum 2% Maximum 4% 2028 review £215,097 £237,028
Service Charge An estate service charge will be payable in respect of common estate services. This sum will be fully recoverable from the tenant under the terms of the lease.
Specification
- Prime location within Evesham’s premier business location
- Prominently situated adjacent to major arterial route
- Newly built detached warehouse totalling 22,920 sq ft
- Freehold
- New 10 year FRI lease to Harrison Products Co Ltd
- Tenant option to break at year 5
- Initial rent of £194,820 per annum (£8.50 per sq ft)
- CPI linked rent review at year 5 (2-4%pa collar and cap