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Income Producing Office Investment, Saturn House, Saxon Business Park, Bromsgrove, B60 4AD

3,179 Sq Ft / Offices / Investment

For Sale - £499,950.00

Available - Last updated: 23 February 2024

Saturn House is a Freehold office building set within a private business park just 3 miles from the M5 motorway J5. The office building is for sale with the benefit of a new 6 year lease with a 3 year tenant only break clause having given 6 months prior written notice. The lease will be based on full repairing and insuring terms with a 3 year upward only market rent review to Fire Safe Services Limited and commence on completion of the sale to the new owner at a rent of £40,000 per annum + VAT.

Three years accounts for Fire Safe Services Limited are available from the agents office, the company is trading well summarised below:

2020 - Profit after tax £402,844 with net assets of £946,511
2021 - Profit after tax £445,960 with net assets of £959,47
2022 - Profit after tax £342,138 with net assets of £910,609

Fire Safe Services have conducted considerable refurbishment work and created partitioned meeting rooms and separate offices over ground and first floor. A floor plan is available showing the existing floor layout and a separate floor plan is available showing the original configuration prior to the tenants works taking place. We have measured the building based upon the original floor layout ignoring any removable partitions the tenant has created.

Location

Located on Saxon Business Park which is just off the B4091 Hanbury Road, Stoke Prior. The entrance to the Business Park is the third turning on your right as you pass over the canal bridge approaching from the Bromsgrove direction. As you enter Saxon Business Park cross over the first cross roads, pass over the next staggered cross roads and then take the next available left and the offices are located in the top left corner of phase three Saxon Business Park. The site is approximately 4 miles from junction 5 of the M5 motorway and also has good access routes to the M42 motorway at Bromsgrove.

Accommodation

Floor Area: NIA Internal Area (NIA) is 3,179.00 sq ft (295.44 sq m).

Terms

Price: £499,950 + VAT

Rateable Value: £27,750 (2023) source: www.voa.gov.uk.

Rates Payable: The rates payable are calculated as a multiplier of the rateable value. If the rateable value is £12,000 or less small business maybe entitled to 100% rates relief providing the property is their only business premises. Any interested applicants should contact the local authority

Legal Costs: Each party pays their own legal costs.

VAT: Value Added Tax at the prevailing rate is applicable on all costs shown in these particulars apart from business rates.

EPC: The Energy Performance Rating of the property is = C.
A full copy of this report is available from the agent’s office upon request.

Specification

  • Income Producing Investment
  • 8% Gross Yield (Before Purchasing Costs)
  • Rental Income £40,000 Net of VAT
  • Freehold Office Building
  • New 6 Year lease with 3 Year Break Clause
  • 3 Miles to M5 Motorway J5

Property Quote Price(s)

DescriptionSale typeGuide pricePrice type
  For Sale Freehold £499,950.00 NA

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Contact agents

Richard Johnson

Westbridge Commercial

01789 430045



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