Property Details: • Type: N/A • Tenure: N/A • Floor Area: N/A
Key Features: • Virtually Brand New high spec development • Six Self-Contained Units • Lofty eaves ht 23'4" (7.13m) • Total GIA 22,723 sqft (2112 sqm) • Gross Reversionary Income £227,169.50 • Secured Fenced & Gates Site • Freehold
Location: • Nearest Station: N/A • Distance to Station: N/A
Agent Information: • Address: Daralbee House Archer Road, Redditch, Worcestershire, B98 8DJ
Full Description: DescriptionBuntsford Business Centre is a virtually brand new development of 6 self-contained lofty factory Warehouse units constructed to a high standard throughout with superb fittings.The Properties are constructed in two opposing terraces within a fenced and gated secure development. Each of the Units benefits from a lofty eaves height of approximately 7.13 metres, integral separate Male and Female WC’s, shower, Kitchenette and LED lighting.The Units have the following GIA:Unit 1 - 6295 sqftUnit 2 - 4160 sqftUnit 3 - 2119 sqftUnit 4 - 4205 sqftUnit 5 - 2066 sqftUnit 6 - 2115 sqft plus mezz 1764 sqft total 3878 sqftThe Total Gross Internal Floor Area is 22,723 sqft (2111 sqm)LocationBuntsford Business Centre is located on Buntsford Gate, a brand new development lying to the south east of Bromsgrove Town Centre and having access to the M5 motorway to the south of Bromsgrove at Wychbold (Junction 5) approximately 4 miles, or to the north of Bromsgrove at Lydiate Ash (Junction 4) approximately 5 miles.Access can also be gained to the M42 motorway via the A38 to Junction 1 to the north of Bromsgrove approximately 3 miles.Repairing ObligationsAll leases are FR&ITenureFreeholdProposalWe are instructed to seek offers of £3,600,000 (plus VAT) subject to contract, which equates to a net initial yield of 5.66% and a reversionary yield of 6.31% excluding costs. This pricing translates to a capital value of £158 per square foot.Rateable ValueTBCServicesAll mains services are available to each unit.Legal FeesEach party to bear their own legal feesAnti Money LauderingThe successful purchaser will be required to provide documentation to comply with Anti Money Laundering LegislationTenancy ScheduleUnit 1 - Let to VIN-X Ltd for 5 years from 14 May 2024 at £62,970paUnit 2 - Let to Architectural Wallz (Ltd) Ltd for 5 years from 28 March 2024 at £43,669.50pa. Break 28/3/2028Unit 3 - Let to Ortlinghaus UK Ltd from 22nd July 2024 for 5 years at £22,772pa. Break 22/7/2027Unit 4 - Let to Euro-Cut Abrasives (G.B) Ltd from 1st November 2024 for 5 years at £44,058pa. Break 1/11/2027Unit 5 - Vacant ERV £23,500paUnit 6 -Let to Elite Oils Ltd for 5 years from 1st January 2025 at £30,200.EPCtbc
