SITUATION The property is situated on Heathcote Industrial Estate which is approximately 1.8 miles from Warwick town centre. It is within a 4 minute drive from Junctions 13, 14 & 15 of the M40 motorway providing excellent access to the wider motorway network.
DESCRIPTION The property comprises an industrial building of portal frame construction built about 30 years ago. The main building includes two storey offices. In addition there is an open sided industrial/warehouse unit with a good concrete yard and additional parking at the front of the property.
Overall dimensions 50'9" x 174'0"
Gross internal area 8830 sq.ft (820 sq.m)
Warehouse 7818 sq.ft (726 sq.m)
Ground floor offices 900 sq.ft (83.6 sq.m)
First floor offices 900 sq.ft (83.6 sq.m)
TOTAL 9,618 sq.ft (893 sq.m)
Open Sided Building:
Overall Dimensions 48'6" x 129"
Gross internal area 6254 sq.ft (581 sq.m)
OVERALL TOTAL 15,872 sq.ft (1,474.5 sq.m)
TENURE Freehold subject to the existing tenancy (please see agents note).
LEASE The whole property is let to Rybrook Limited on a lease expiring in September 2022. There is a schedule of condition attached to the lease. The tenants have informed us that they will not be renewing their lease.
RENT £87,000 per annum exclusive with effect from 29th September 2019.
SALE PRICE Offers in the region of £1,350,000 for the freehold property subject to the existing tenancy.
RATEABLE VALUE £60,000
LEGAL COSTS The purchaser will be responsible for both parties reasonable legal costs incurred in this transaction.
VAT will be payable in addition where applicable.
FLOOR PLANS Available on request.
AGENTS NOTE The current tenants have acquired a new site for a car showroom and have now confirmed that they will not be renewing the lease when it expires on 28th September 2022. There is a chance that they may consider surrendering their lease at an earlier date.
VIEWING Strictly by appointment with the agents.