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Floorplan
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    Key features

    • To be offered on Wednesday 22 April
    • A freehold retail warehouse investment
    • Let to Howden Joinery Properties Limited
    • 15 year FRI lease from July 2014 (expiring July 2029)
    • Warehouse is set within 1-acre fenced private compound
    • 30 space car park
    • Comprises approximately 15,912 sq ft (1,478 sq m)
    • VAT-free investment
    • Investment let £117,000 p.a. (9% GIY on Guide Price)

    Description

    The detached unit occupied by Howdens as a trade-counter unit with a main warehouse store on the left-hand side, with the right-hand side as trade counter, ancillary accommodation, further office and welfare ancillary accommodation to on a first-floor level, with further warehouse store to the rear of the right-hand side. The external area comprises a fenced service yard which encompasses the entire unit, with a front security gated entrance and space for approximately 30 car parking spaces. The overall site area totals to 1.06 acres.

    Additional information

    Tenure

    Freehold

    Accommodation

    Ground Floor 1,432 sq m 15,416 sq ft

    First Floor 46 sq m 495 sq ft

    Total: 1,478 sq m 15,912 sq ft

    Tenancy

    The premises are occupied by Howden Joinery Properties Limited (company number 5656171) on an FRI lease from 04 July 2014 until 03 July 2029, with rent reviews every 5th anniversary, recently actioned in 2024.


    The tenants, Howden Joinery Properties Ltd, latest accounts show a turnover of £84.9m and an operating profit of £12.9m. Howden Joinery Properties Ltd are a wholly owned subsidiary of Howdens Joinery Group PLC. Howdens Joinery Group PLC is a constituent of the FTSE 100. Starting in 2006 with 14 depots it is now the UK’s largest kitchen supplier with circa 948 depots in total, approximately 78 of which are in Europe.

    Rent

    £117,000 p.a.

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

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      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The subject unit is located on the established industrial estate of Cardrew Industrial Estate, 1 mile from Redruth, 9 miles from Truro and 24 miles from Newquay Airport. It is conveniently situated 1 mile from the A30, Cornwall’s main arterial route which links onto the M5 at Exeter. Neighbouring businesses on Cardrew Industrial Estate include Opie Oils, Howard BMW/MINI Specialist, and Pall Aerospace and Industrial.

      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