The property comprises two detached two storey office/commercial buildings; Rink House that is used by the Council as a Youth Information Centre and The Rink Centre which is the Swadlincote Adult Education Centre.
Location
Swadlincote is a historic town in South Derbyshire, England, situated near the borders of Staffordshire and Leicestershire. It lies approximately five miles southeast of Burton upon Trent and about 12 miles southwest of Derby. Swadlincote is the largest town in South Derbyshire and serves as the district's main administrative and commercial center.
The properties are situated in the town centre and lie between the High Street and a Morrisons Supermarket and The Pipeworks retail and Leisure Park. On Rink Drive there are a mixture of other commercial uses and a long stay car park.
Accommodation
We have not inspected internally and the following areas have been obtained from the business rates valuation:
Rink House: 347.50 sq. m (3,740 sq. ft)
The Rink Centre: 878.70 sq. m (9,458 sq. ft)
OUTSIDE - Open surfaced car park between the buildings for approximately 23 vehicles.
Terms
TENURE - The property is held freehold on Titles DY293830 & DY226051.
TENANCIES:
1) Rink House is let to Derbyshire County Council on a full repairing and insuring lease for a term of 10 years 5 December 2023 at an initial rent of £38,000 per annum.
There is a rent review and break option on 5th September 2028, with a break payment of £8,500 plus VAT.
2) The Rink Centre is let to Derbyshire County Council on a full repairing (subject to a schedule of condition) and insuring lease for a term of 10 years 5 December 2023 at
an initial rent of £73,000 per annum. There is a rent review and break option on 5th September 2028, with a break payment of £8,500 plus VAT.
EPC - Energy Asset Rating is B (The Rink Centre) and both have a DEC of D.
BID TERMS - In submitting any offer please confirm the below:
1. Purchasing entity.
2. Purchase price.
3. Conditions (if any).
4. Finance (including proof of funding).
5. Timetable for acquisition.
VAT - All figures quoted are exclusive of VAT. Option to Tax applies and can be sold as a TOGC.
PRICE - Offers invited in excess of £1,275,000.
LEGAL COSTS - Each party will be responsible for their own legal costs.
Specification
- Commercial Investment
- Let to Derbyshire County Council
- Combined rent of £111,000 per annum
- Two detached 2 storey office/commercial buildings
- Approximate area 13,198 sq. ft
- Held on two titles and opportunity for purchaser to split
- Offers in region of £1,275,000
- Represents a 8.70% Gross Initial Yield and £96.60 per sq. ft capital value at the asking price