About this property
Key Features
Scope to increase rental income
16 units currently producing rent of £101,242.00 pa
Popular trading estate with active management potential
Industrial Estate investment
Description
An industrial estate located in a popular trading estate on the outskirts of Wisbech, comprising 16 individual business units in 3 main blocks. The units are a mix of steel portal frame and brick construction beneath corrugated roofing. The units offer flexible business space and are currently used for a mixture of industrial and office purposes.
The units are set around a shared surfaced yard with parking.
The property offers great potential for increasing income through letting the vacant unit and it is considered a possible income of circa £114,000 could be obtained if the vacant unit is let.
Tenure
Freehold subject to tenancies
Location
Sandall Road is located in the heart of the popular trading estate just to the south west of the main town centre of Wisbech. The town of Wisbech offers residents and employers a range of shops, amenities and services and benefits as being one of the largest Fenland towns in the area ensuring foot traffic from a wide range of surrounding Fenland villages.
Lot Type
Commercial
Tenancies
It is understood that the units are individually let with each party having signed a Licence Agreement as detailed in the table on the following page and in the auction Legal Pack.
Interested parties should be aware that Units 6,7,8 and the offices have recently indicated that they wish to renew for another year and the vendors are awaiting the return of these signed agreements.
Unit 14 is currently vacant, and at the time of catalogue production, terms had just been agreed on a new licence for Unit 3 which will commence on 1st June 2015.
All up-to-date agreements will be included within the Legal Pack.
Legal Packs
www.cheffins.co.uk/propertyauctions or Keith Harvey & Co. Solicitors, 43 High Street, Market Harborough, LE16 7AQ, Tel: 01858 464327 Ref: SC
Viewing
Cheffins Property Auction Dept 01223 213777
Important notes
*Guide prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set up to or within the Guide Range or no more than 10% above a single figure Guide. The reserve price will remain confidential between the seller and the auctioneer.
Fees: The guide price excludes any additional fees that the purchaser may incur, to include, but not limited to, Buyers Contract fee, Stamp Duty Land Tax, VAT, legal and search fees etc. Please refer to relevant Auction Legal Packs for details.�