Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a rarely available industrial investment opportunity let to the undoubted covenant of SUEZ Recycling and Recovery, one of the UKs largest waste management businesses.
Arranged across a site of 5.79 acres (2.345 hectares), the property is used as a recycling and waste management centre and occupies a prime pitch on the outskirts of Blackpool and adjacent to the M55 motorway.
The property is let to SUEZ Recycling and Recovery UK Limited on a 25 year lease expiring 03/01/2038 and paying £177,912 per annum, the lease includes annual uplifts in line with CPI (cap and collar of 1%-4%) and the tenant benefits from an option to extend the lease for a term of either 15 or 25 years upon expiry.
Tenure
Freehold
Tenancy
The property is let on a 25 year lease expiring 03/01/2038 to SUEZ Recycling and Recovery UK Limited and paying £177,912.90 per annum.
The lease includes a Guarantor Agreement with SUEZ Recycling and Recovery Holdings UK Limited.
The lease is on full repairing and insuring terms and includes annual uplifts in rent linked to the Consumer Price Index (CPI) with a "cap and collar" of 1%-4%.
The lease includes a tenant's option to renew (exercisable for 6 months prior to 03/07/2037) for a term of either 15 or 25 years on the same terms and paying Market Rent.
SUEZ Recycling and Recovery UK Limited (Tenant)
SUEZ Recycling and Recovery Holdings UK Limited (Guarantor)
Planning
Whilst there are no extant planning consents, the property has an extremely low site coverage of approximately 14.5%. We therefore consider that there may be a long-term opportunity to increase massing on the site (subject to the existing lease and any requisite consents).
Rent
Notes
We understand the property is elected for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC)
Joint Agent
Joseph Kemp
Savills - UK Investment
07866 203 541