Unit C, Shadsworth Business Park, Haslingden Road Blackburn, Lancashire BB1 2EE
Location Estimated Resident Population: 105,000 Miles: 10 miles east of Preston 27 miles north-west of Manchester
Roads: M65
Position The property is located in a prominent location on Haslingden Road, at its junction with WilkinsonWay, about 1
⁄4 mile from Junction 5 of the M65 and about
2 miles south-east of Blackburn town centre. Nearby: Chubb Security, Travelodge Hotel,Wolesley UK
Description MODERN OFFICE BUILDING arranged on the ground and first floors. The ground floor is used as a high tech production facility and the first floor is used as offices. The property benefits from secured surfaced car parking for about 88 vehicles and has a site area of about 0.68 hectares (1.7 acres).
Tenure Long Leasehold for a term of 999 years from 1st September 2000 at a peppercorn ground rent.
Present Accommodation (approximate areas) Floor
Accommodation
Ground First
High Tech Production Offices
Total Commercial Area
Tenant COBHAM DEFENCE COMMUNICATIONS LIMITED (1) with a guarantee from COBHAM PLC (2)
Lease Term: 20 years from 11th April 2001 Basis: FRI Rent: £280,000 per annum Review: 2016 (3) Expiry: April 2021
VAT is applicable to this lot – please see Special Conditions of Sale.
Note This property is being marketed on behalf of Joint Fixed Charge Receivers excluding any title guarantees, warranties or indemnities. The information in these particulars has been provided by the Joint Fixed Charge Receivers to the best of their knowledge but the purchaser must rely solely upon their own enquiries. The Joint Fixed Charge Receivers are not bound to accept the highest or any offer and are acting in respect of this sale without personal liability.
Gross Internal Areas
1,443.67 sq m 1,457.60 sq m
2,901.27 sq m
(15,540 sq ft) (15,690 sq ft)
(31,230 sq ft) (3)
(1) Cobham Defence Communications Limited offers wireless systems, light vehicle systems, medium and heavy vehicle systems, command post and networking. They provide a world class electronic manufacturing service and manufacture a large number of electronic cicuits for export throughout the world. For the year to 12/10, they reported a total turnover of £52.9 million, pre-tax profits of £18.1 million and a net worth of £37.9 million (Source: One Source One-Stop Report). The original tenant to the lease was BAE Systems (Defence Systems) Limited.
(2) Cobham plc is an international company engaged in the development, delivery and support of leading edge aerospace and defence technology and systems. The company has three divisions employing more than 11,000 people on five continents. For the year to 12/10, they reported a total turnover of £1.9 billion, pre-tax profits of £189.3 million and a net worth of £27.8 million. (Source: One Source One-Stop Report)
(3) The lease provides that the rent is reviewed to 98.125% of non air conditioned offices in excess of 5,000 sq ft. The floor area agreed for rent review purposes is 30,920 sq ft – please see lease.
The Special Conditions of Sale and a legal pack are available from the Seller’s Solicitors and are available online at www.cbre.co.uk/auctions. Seller’s Solicitor TLT Solicitors LLP. t: 0117 917 7977. e: philip.collis@tltsolicitors.com Ref: P Collis Esq.
101 For identification purposes only – please see title documentation.