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28 January 2025 28 January 2025 - 9:00am >
Lot 91
Withdrawn
Withdrawn Prior
Sold
Sold Prior
Sold Post
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The property comprises a secure underground car park situated under Caister House, a large apartment block.
Access is via Bride Street, just off Roman Way, by way of a single ramped entrance and exit point.
Tenure
Long Leasehold. Held on a lease for a term of 125 years from 25th December 2013 (thus having approximately 113 years unexpired) at a fixed ground rent of £1 p.a.
Accommodation
Total- 1,908.70 sqm (20,545 sq ft)
Tenancy
Let to Carsup UK Ltd on an effectively full repairing and insuring(FRI) lease for a term of 10 years from June 2024 at £200,000 per annum.(1)
The lease provides for annual RPI linked rent reviews subject to a 1% & 5% collar & cap.
(1) The lease provides for a stepped rent starting at £190,000 p.a until 13th June 2025, rising to £200,000 p.a. from 14th June 2025 until 13th June 2026 and thereafter subject to review. The Seller will top-up the rent by way of an allowance form Completion so the buyer effectively receives £200,000 p.a. from Completion until the expiry of the rent incentive period.
A £57,000 rent deposit is held
Rent
Notes
We understand from the seller that all consents are in place for all B8 uses (storage and warehousing) together with the ability to enter into licence agreements with individuals reference any form of storage. We understand that the property is elected for vat.
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.
Joint Auctioneer:
Steven Cane
Associate
Savills Auctions Commercial Department
steven.cane@savills.com
+44 (0) 20 7824 9057
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