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Floorplan
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    Key features

    • To be offered on Tuesday 24 September
    • Of interest to investors
    • Highly Reversionary Freehold Multi-Let Industrial and Ground Rent Investment
    • Investment let at £33,863 pa (plus 3 units and a yard vacant)
    • Immediate asset management potential to increase rents and let the vacant units
    • Benefits from three open storage sites totalling 0.42 acres
    • Industrial units are passing off a low rent of £3.77 per sq ft

    Description

    The occupational estate comprises 11 units arranged across two terraces and three open storage / yard areas. There are 8 units let and 3 units vacant, with immediate asset management potential to re-let the vacant units and increase the passing rent. The wider estate, included in the freehold on long leases are 51 units sold on 11 leases.


    Specification of the units differ across the two terraces, with units 33 -44 being of brick-and-mortar construction with corrugated metal roofing. Units 49B and 50 have brick-and-mortar elevations with metal sheet profile cladding and metal roofing. The units are self-contained with concrete floors, access and roller shutter loading doors. Each unit benefits from a number of dedicated parking spaces. Units 49B and 50 have their own WC, whereas the remainder benefit from a communal WC. The entire site extends to 13.40 acres (5.42 hectares).The occupational units are hatched purple on the adjacent plan, whilst the long leasehold elements are hatched green.

    Additional information

    Tenure

    Freehold.

    Accommodation

    Please note the approximate areas have been provided by the VOA/Vendor and the property has not been internally inspected by Savills. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. 

    Tenancy

    Please see Tenancy and Accommodation Schedule.

    Rent

    £33,863 pa

    Notes

    The occupational units are hatched purple on the plan, whilst the long leasehold elements are hatched green.

    We have been informed that the freeholder can require the long lessees to install electricity meters for their own independent supplies.


    Addenda:

    Please note in replies to CPSE2 the following answers need amending:-

    • 5.3 - there are now arrears for one of the occupational tenants who is three months in arrears totalling £1,404.
    • 10.6 - there are now service charge arrears of approximately £1,300.
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      Accommodation / Tenancy Schedule

      Local information

      Premier Industrial Estate is situated in the area of Brockmoor, 1.3 miles to the West of Brierley Hill. The estate is well positioned and in an established industrial area, surrounded by various other industrial occupiers and industrial estates. Premier Industrial Estate is accessed from Leys Road, which in turn connects to the A491 with Stourbridge to the South and Wolverhampton to the North.

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums