10 years from 10th August 2010 with a rent review in 2015
15 years from 10th June 2005 with a rent review in 2015
232.25 sq m (2,500 sq ft) F D TJORNELUND 5 years from 1st October 2010 with a review in 2013 (Lease Renewal)
569.47 sq m (6,130 sq ft) FUNDERZONE LTD 15 years from 23rd June 2004 with a review in 2014
569.47 sq m (6,130 sq ft) WOLSELEY UK LTD (3)
Total Commercial Area 2,072.58 sq m (22,310 sq ft)
22 years from 29th September 2003, with a rent review in 2015 and 2020.
Total Rent
Rent £ p.a. £32,224 (2)
£16,125 £15,000 £30,000 £30,150 (4) £123,499 (2)
(1) For the year to 03/10, The BSS Group Ltd reported a turnover of £1.35 billion, pre-tax profits of £44 million and total assets of £235 million. (Source: One Source One-Stop Report)
(2) On Unit 1, BSS are paying half rent (£16,112 pa) for the first five years of the term. The Vendor will ‘top up’ the rent from completion of the sale until the expiry of the rent concession in 2015 – please see Special Conditions of Sale.
(3) For the year to 07/10,Wolseley UK Ltd reported a turnover of £1.84 billion and total assets of £3.3 billion. (Source: One Source One-Stop Report) (4) Lease term recently extended until 2025 in return for a rent free period expiring on 3rd April 2012. The vendor will ‘top up’ the rent from completion to the expiry of the rent free period – please see the Special Conditions of Sale.
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 Muckle LLP. t: 0191 211 7994. e: ahill@muckle-llp.com Ref: A Hill Esq.
Description UNBROKEN PARADE OF FIVE TRADE COUNTER/ INDUSTRIAL UNITS arranged on the ground floor only. The property benefits from parking with 68 marked spaces.
Tenure Freehold.
VAT is applicable to this lot – please see Special Conditions of Sale.
For identification purposes only – please see title documentation.