Warehouse and Premises DRAFT
Warehouse and Premises
DRAFT
7,803 SqFt (724.9 SqM)
ASSET MANAGEMENT OPPORTUNITIES POTENTIAL DEVELOPMENT (STP) ESTABLISHED TRADING LOCATION – AIRPORT INDUSTRIAL ESTATE SET TO BENEFIT FROM NORTH NORWICH DISTRIBUTOR ROAD
Note: Arnolds for themselves and for the vendors or lessees of this property whose agents they are give notice that (i) the particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute part of, an offer or contract: (ii) all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchaser or lessees should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them (iii) no person in the employment of Arnolds has any authority to make or give any representation or warranty whatever in relation to this property.
Investment For Sale
24 - 28 Meteor Close, Norwich, Norfolk, NR6 6HR Meteor Close is located approximately three miles north of Norwich City Centre and forms part of the busy airport industrial estate. Meteor Close is accessed off Hurricane Way which is the main estate road. The property comprises three individual units with forecourt parking, and yard area to the rear which presents opportunity to develop the site further.
24 - 28 Meteor Close, Norwich, Norfolk, NR6 6HR
Description
Terms
Internally the properties provide typical industrial accommodation with concrete floors, painted brick and block walls, suspended ceilings in part and incorporated fluorescent strip lighting. Each unit also benefits from its own access door, with roller shutter doors installed at units 24 and 28, and a sliding door at unit 26.
The long leasehold interest in the property is available for sale at a guide price of £195,000 exclusive. This equates to a net initial yield of approximately 8% and 13% once fully let.
Accommodation
Legal Costs
We have measured the property in accordance with the RICS Code of Measuring Practice and calculate the following approximate gross internal floor area:
Both parties are to be responsible for their own legal costs.
VAT Description Unit 24 Warehouse Office Total Unit 26 Warehouse Total Unit 28 Warehouse Office Total TOTAL GIA
SqM
SqFt
211.86 83.46 295.32
2,280 898 3,178
197.94 197.94
2,131 2,131
225.28 6.42 231.70 724.96
2,425 69 2,494 7,803
Our client reserves the right to charge VAT in line with current legislation.
Business Rates The property has been entered onto the Valuation Office Agency website as the following: Description: Warehouse and Premises
Tenure The property is held on a long leasehold dated 12 July 1974 between The City Council of Norwich and SC Ward Engineers Limited.
Unit
Rateable Value
Rates Payable 2017/2018
24
£13,000.00
£6,058.00
26
£8,700.00
£4,054.20
28
£11,000.00
£5,126.00
EPC Term Start Remaining Ground Rent Rent Review
75 years 1 March 1973 31 years £5,245 per annum Every 21st anniversary
The following tenants are currently in occupation: Unit
Tenant
Rent
Term
24 26 28
Express Vacant Oakes Transport TOTAL
£11,800 -£9,450
3 yrs -3 yrs
£21,326
pa
Start Date 19/04/96 -01/06/06
End Date 09/04/99 -31/05/09
Both tenants are currently holding over, however, we understand that they both intend to sign new leases for terms 8 and 9 years respectively.
The property has EPC rating:- TBC
Viewing and further information Strictly by appointment with the sole agent: Arnolds Keys 01603 620551 Robert Flint [email protected] Jordan Marshall [email protected] SUBJECT TO CONTRACT - JJM/rhc/22718/120/1
DRAFT
7,803 SqFt (724.9 SqM)
ASSET MANAGEMENT OPPORTUNITIES POTENTIAL DEVELOPMENT (STP) ESTABLISHED TRADING LOCATION – AIRPORT INDUSTRIAL ESTATE SET TO BENEFIT FROM NORTH NORWICH DISTRIBUTOR ROAD
Note: Arnolds for themselves and for the vendors or lessees of this property whose agents they are give notice that (i) the particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute part of, an offer or contract: (ii) all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchaser or lessees should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them (iii) no person in the employment of Arnolds has any authority to make or give any representation or warranty whatever in relation to this property.
Investment For Sale
24 - 28 Meteor Close, Norwich, Norfolk, NR6 6HR Meteor Close is located approximately three miles north of Norwich City Centre and forms part of the busy airport industrial estate. Meteor Close is accessed off Hurricane Way which is the main estate road. The property comprises three individual units with forecourt parking, and yard area to the rear which presents opportunity to develop the site further.
24 - 28 Meteor Close, Norwich, Norfolk, NR6 6HR
Description
Terms
Internally the properties provide typical industrial accommodation with concrete floors, painted brick and block walls, suspended ceilings in part and incorporated fluorescent strip lighting. Each unit also benefits from its own access door, with roller shutter doors installed at units 24 and 28, and a sliding door at unit 26.
The long leasehold interest in the property is available for sale at a guide price of £195,000 exclusive. This equates to a net initial yield of approximately 8% and 13% once fully let.
Accommodation
Legal Costs
We have measured the property in accordance with the RICS Code of Measuring Practice and calculate the following approximate gross internal floor area:
Both parties are to be responsible for their own legal costs.
VAT Description Unit 24 Warehouse Office Total Unit 26 Warehouse Total Unit 28 Warehouse Office Total TOTAL GIA
SqM
SqFt
211.86 83.46 295.32
2,280 898 3,178
197.94 197.94
2,131 2,131
225.28 6.42 231.70 724.96
2,425 69 2,494 7,803
Our client reserves the right to charge VAT in line with current legislation.
Business Rates The property has been entered onto the Valuation Office Agency website as the following: Description: Warehouse and Premises
Tenure The property is held on a long leasehold dated 12 July 1974 between The City Council of Norwich and SC Ward Engineers Limited.
Unit
Rateable Value
Rates Payable 2017/2018
24
£13,000.00
£6,058.00
26
£8,700.00
£4,054.20
28
£11,000.00
£5,126.00
EPC Term Start Remaining Ground Rent Rent Review
75 years 1 March 1973 31 years £5,245 per annum Every 21st anniversary
The following tenants are currently in occupation: Unit
Tenant
Rent
Term
24 26 28
Express Vacant Oakes Transport TOTAL
£11,800 -£9,450
3 yrs -3 yrs
£21,326
pa
Start Date 19/04/96 -01/06/06
End Date 09/04/99 -31/05/09
Both tenants are currently holding over, however, we understand that they both intend to sign new leases for terms 8 and 9 years respectively.
The property has EPC rating:- TBC
Viewing and further information Strictly by appointment with the sole agent: Arnolds Keys 01603 620551 Robert Flint [email protected] Jordan Marshall [email protected] SUBJECT TO CONTRACT - JJM/rhc/22718/120/1
