Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
The property comprises a substantial ground floor industrial unit arranged as recording studios. The tenant has fitted out the building as Recording, DJ, Band and Podcast Studios.
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.
Ground - 386 sq m (4,155 sq ft)
Total - 386 sq m (4,155 sq ft)
Tenancy
Let to Pirate Studios Properties Limited on a 15 year FRI lease from 05.09.2019 expiring 04.09.2034. The lease provides for a rent review every 5th year to RPI (1% & 4% cap and collar) at a rent of £44,561 pa.
Please note the current rent passing is £30,000 pa due to a wider agreement between the vendor and the tenant which expires next year (2025). The vendor has agreed to top up the completion monies so that the property effectively produces £44,561 pa from completion of the sale until the increase rent gets implemented.
Rent