Caswell Road Available

Caswell Road Brackmills
Northampton
NN4 7PW
£525,000
4469 sq ft

Summary

Modern warehouse measuring 4,469 sq ft located on Sketty Close, Northampton.
  • End of terrace unit (4,469 sq ft [415.17 sq m])
  • Prominent location fronting Brackmills principal estate road
  • Let to Akzo Nobel Powder Coating Limited
  • Current income of £20,950 pax
  • Outstanding rent review 25 March 2019

Location

The premises are situated off Sketty Close, close to its junction with Caswell Road on the Brackmills Industrial Estate. This is one of the principal estate roads and leads to the A45 dual carriageway which in turn connects to the M1 motorway at Junction 15 (5 miles).

The surrounding locality comprises a mixed range of industrial/warehouse buildings. The Brackmills Estate is one of the principal industrial and distribution locations within the Midlands attracting many prominent companies who are now established on the estate. Occupiers include Travis Perkins, John Lewis, Black & Decker, Coca Cola and Barclays.

Accommodation

The premises comprise a modern, end of terrace industrial/warehouse building of steel portal frame construction with brick and block to the front elevation to a height of approximately 2 metres surmounted by profile steel cladding to eaves. Above, there is a pitched twin skin and insulated profile steel clad roof incorporating translucent rooflights.

Internally, the property incorporates single storey office/ancillary accommodation. This includes an open plan office with additional board room together with a reception area, kitchen and WC facilities. The remainder of the property is used for processing and storage purposes.

Access into the property for loading purposes is via a single, sectional door incorporated within the front elevation. Separate pedestrian access is provided into the office accommodation, and ample vehicle parking is provided within the forecourt area.

Floor Areas

Warehouse 3,534 Sq Ft 328.31 Sq M
Office 935 Sq Ft 86.86 Sq M
Total Area 4,469 Sq Ft 415.18 Sq M

Terms

The property is let in its entirety to Akzo Nobel Powder Coating Limited (trading as Cromadex) on a full repairing and insuring lease for a term of 10 years from 25 March 2014. The current rent passing is £20,950 pax, which equates to £4.69 per sq ft. The tenant has been in occupation for over 25 years.

The lease incorporates a rent review at year 5 to the Open Market Rent. The rent review of the 25 March 2019 has not been documented and therefore provides significant scope for immediate reversion. We are of the opinion that the current rental value is in excess of £30,000 pa (£6.71 per sq ft).

Business Rates

Rateable Value £18,750
Rates Payable £9,206

(Rates payable are an estimate only. Applicant should verify with Local Authority.)

Legal Costs

Each party is to be responsible for their own legal costs incurred in the sale transaction.

VAT

The property is registered for VAT. It should be noted that all figures quoted either verbally or in writing are exclusive of VAT unless specifically stated.

Services

We understand that all mains services are connected to the property. It should be noted that none of the services have been tested, prospective purchasers should ensure that the facilities are installed and working to their own satisfaction.

Service Charges

Energy Performance Certificate Rating

E (101).

Other Information

In accordance with Money Laundering Regulations, please be aware that any prospective purchaser will be asked to produce I.D. documentation when a sale is agreed and we ask for your cooperation in order to not delay matters.

Viewing

To view and for further details please contact:

Joss Burrows
Email: jb@underwoods.co.uk
Telephone: 01604 404060
Direct Dial: 01604 774144

Stephen Battersby
Email: sb@underwoods.co.uk
Telephone: 01604 404060
Direct Dial: 01604 783002