FOR SALE - London - Realla
Industrial Investment opportunity
FOR SALE
Europa 1 (Jenner House) & Europa 2 (Europa House) Trident Close, Medway City Estate, Rochester, Kent, ME2 4ER.
Currently producing £308,485 per annum
INDUSTRIAL INVESTMENT OPPORTUNITY FOR SALE Europa 1 (Jenner House) and Europa 2 (Europa House) - Trident Close, Medway City Estate, Rochester, Kent, ME2 4ER. Location
Description
The premises are situated in a prominent location off Trident Close, fronting Sir Thomas Longley Road on Medway City Estate. The estate is well accessed to the M2 via Junctions 1 and 4 and just 15 miles from Junction 2 of the M25.
The premises comprise two previously separated buildings which have recently been merged to create one building with offices, mezzanine storage and substantial parking. The units have an approximate eaves height of between 7 and 7.5 metres, heating, WC facilities, parking and roller shutter doors.
Accommodation
Tenancy Schedule
Description
sq. ft.
sq. m.
27,173
2,524.45
Ground Floor Offices
2,473
229.75
First Floor Offices
2,473
229.75
Mezzanine Floor
2,477
230.12
First Floor Mezzanine
1,987
184.60
Second Floor Mezzanine
1,987
184.60
Main Warehouse
Offices
Let to MIQ Logistics Ltd on assignment from The Logistics Corporation Ltd
870
80.83
39,440
3,664.10
Front Warehouse
4,959
460.71
Ground Floor Offices/Staff Room
1,019
94.67
Europa 1 Total
Rent £308,485 per annum (£4.53 per sq ft) There are two leases for the property, one for Jenna House and one for Europa House. Both leases completed on 9 December 2010. The leases expire on 8 December 2020 and the rent review dates are on 9 December 2015 and the penultimate day of the term. Both leases have tenant breaks on 8 December 2017. An additional break clause has recently been removed and in agreeing this, the tenant was given a reduced rent until June 2015. It is the intention of the vendor that the rent is topped up to the original passing rent until the expiry of this period. This concession will be disregarded at rent review.
First Floor Offices
1,019
94.67
Main Warehouse
21,711
2,017.02
Europa 2 Total
28,708
2,667.06
Total
68,148
6,133.16
Date Of Accounts Net Worth
LONDON
Sheerness A2 (m)
VA NG UA
Pre-tax Profit
Rochester
RD WAY A2 89
A28
Sittingbourne
M20
MEDW AY T UN N E L
AN
ME D WAY CITY E STATE
Turnover
A249
A228 A2
ON TH
A249
M20
M26
Faversham
31/12/2012
31/12/2011
31/12/2010
£6,104,000
£4,658,000
£3,334,000
£33,500,000
£26,465,000
£30,990,000
£1,991,000
TBC
£1,057,000
A253
MIQ Logistics Ltd - Company Number 2773769 Experian Credit Rating A (Excellent). A28
M2
A
WA
W IT H
Y
LL RO A
SI
N
TH O M A S LON G LEY RD
LO S E NE C PTU NE
R
DE
R IVE R
D I TR
CL
ME DW AY
YS
W T
Maidstone A274
A26
Tonbridge
A20
A28
Jenna House is held under a lease dated 1 January 2006. The lease is for a term of 999 years from 1 December 2000. Europa House is held under a lease dated 22 December 2000. The lease is for a term of 999 years from 1 December 2000
Price Offers are invited in excess of £3,200,000, reflecting a Net Initial Yield of 9.11%, assuming purchasers costs of 5.8%. Subject to contract and VAT.
Legal Costs Each party to be responsible of their own legal costs
VAT
Covenant information M25
Tenure
We understand that the property is elected for VAT and it is proposed that the sale will be dealt with by way of TOGC. (Transfer of business as a going concern).
Business Rates Warehouse office and premises. Rateable value £342,500
EPC Rating D76
A2
A229
Viewing
Ashford
Jonathan Creek [email protected]
Peter Wood [email protected]
Through joint sole agents
Important Notice: the particulars contained in this brochure are believed to be correct but cannot be guaranteed and they do not constitute an offer or contract. Brochure produced 07/14
FOR SALE
Europa 1 (Jenner House) & Europa 2 (Europa House) Trident Close, Medway City Estate, Rochester, Kent, ME2 4ER.
Currently producing £308,485 per annum
INDUSTRIAL INVESTMENT OPPORTUNITY FOR SALE Europa 1 (Jenner House) and Europa 2 (Europa House) - Trident Close, Medway City Estate, Rochester, Kent, ME2 4ER. Location
Description
The premises are situated in a prominent location off Trident Close, fronting Sir Thomas Longley Road on Medway City Estate. The estate is well accessed to the M2 via Junctions 1 and 4 and just 15 miles from Junction 2 of the M25.
The premises comprise two previously separated buildings which have recently been merged to create one building with offices, mezzanine storage and substantial parking. The units have an approximate eaves height of between 7 and 7.5 metres, heating, WC facilities, parking and roller shutter doors.
Accommodation
Tenancy Schedule
Description
sq. ft.
sq. m.
27,173
2,524.45
Ground Floor Offices
2,473
229.75
First Floor Offices
2,473
229.75
Mezzanine Floor
2,477
230.12
First Floor Mezzanine
1,987
184.60
Second Floor Mezzanine
1,987
184.60
Main Warehouse
Offices
Let to MIQ Logistics Ltd on assignment from The Logistics Corporation Ltd
870
80.83
39,440
3,664.10
Front Warehouse
4,959
460.71
Ground Floor Offices/Staff Room
1,019
94.67
Europa 1 Total
Rent £308,485 per annum (£4.53 per sq ft) There are two leases for the property, one for Jenna House and one for Europa House. Both leases completed on 9 December 2010. The leases expire on 8 December 2020 and the rent review dates are on 9 December 2015 and the penultimate day of the term. Both leases have tenant breaks on 8 December 2017. An additional break clause has recently been removed and in agreeing this, the tenant was given a reduced rent until June 2015. It is the intention of the vendor that the rent is topped up to the original passing rent until the expiry of this period. This concession will be disregarded at rent review.
First Floor Offices
1,019
94.67
Main Warehouse
21,711
2,017.02
Europa 2 Total
28,708
2,667.06
Total
68,148
6,133.16
Date Of Accounts Net Worth
LONDON
Sheerness A2 (m)
VA NG UA
Pre-tax Profit
Rochester
RD WAY A2 89
A28
Sittingbourne
M20
MEDW AY T UN N E L
AN
ME D WAY CITY E STATE
Turnover
A249
A228 A2
ON TH
A249
M20
M26
Faversham
31/12/2012
31/12/2011
31/12/2010
£6,104,000
£4,658,000
£3,334,000
£33,500,000
£26,465,000
£30,990,000
£1,991,000
TBC
£1,057,000
A253
MIQ Logistics Ltd - Company Number 2773769 Experian Credit Rating A (Excellent). A28
M2
A
WA
W IT H
Y
LL RO A
SI
N
TH O M A S LON G LEY RD
LO S E NE C PTU NE
R
DE
R IVE R
D I TR
CL
ME DW AY
YS
W T
Maidstone A274
A26
Tonbridge
A20
A28
Jenna House is held under a lease dated 1 January 2006. The lease is for a term of 999 years from 1 December 2000. Europa House is held under a lease dated 22 December 2000. The lease is for a term of 999 years from 1 December 2000
Price Offers are invited in excess of £3,200,000, reflecting a Net Initial Yield of 9.11%, assuming purchasers costs of 5.8%. Subject to contract and VAT.
Legal Costs Each party to be responsible of their own legal costs
VAT
Covenant information M25
Tenure
We understand that the property is elected for VAT and it is proposed that the sale will be dealt with by way of TOGC. (Transfer of business as a going concern).
Business Rates Warehouse office and premises. Rateable value £342,500
EPC Rating D76
A2
A229
Viewing
Ashford
Jonathan Creek [email protected]
Peter Wood [email protected]
Through joint sole agents
Important Notice: the particulars contained in this brochure are believed to be correct but cannot be guaranteed and they do not constitute an offer or contract. Brochure produced 07/14
