Congleton is an affluent mid Cheshire market town located 26 miles south of Manchester, 14 miles north east of Crewe and 9 miles south west of Macclesfield. The property itself forms part of the Radnor Park Industrial Estate which is located 1 mile west of Congleton town centre and is accessed off the A34 trunk road. Other occupiers on the estate include Hans Lingh, Ford, The Post Office and Dane Packaging together with the main production facility for Boalloy Industries (owned freehold) who are also the tenant in the subject unit.

The property comprises a terrace of 4 modern inter-connecting single storey warehouse units of steel portal frame construction with brick / metal clad elevations under a pitched roof (which was over-roofed in 1996). The units benefit from a concrete yard area with customer / staff car park to the side for 20 cars.

The property is let to Boalloy Industries Limited for a term of years commencing on the 22^nd January 1998 expiring on 29^th September 2024. The lease is drawn on full repairing and insuring terms at a current rental of £66,500 (£3.78 psf) per annum which is subject to 5 yearly upward only rent reviews. The rent review for January 2003 is currently under negotiation and an uplift is expected. The landlord has quoted £75,000 per annum. The unit is currently vacant.

Our clients are seeking offers in the region of £786,000 subject to contract and exclusive of VAT which reflects a net initial yield of 8% assuming purchasers costs at 5.75%

 

Situated within the London Borough of Southwark, the property occupies a prominent corner sited position.

The property is situated on the south side of Stamford Street at its junction with Blackfriars Road and some short distance to the south of the embankment section of the River Thames. The immediate area is predominantly commercial in character, but quite a considerable amount of private and public residential development has been carried out within the surrounding areas since the middle of the 19^th Century.

This grade II listed building was originally constructed some 100 years ago and was formerly used as a bank on the ground floor. The property is constructed on basement, ground and three upper floors.

The entire property is let to RPS Group Plc on full repairing and insuring terms for a term of 25 years from 31^st December 1986 at a rent of £102,500 pa. The lease provides for a rent reviews every five years of the term to either the passing rent or open market rental value, whichever is the greater.

For the year ended 31^st December 2002 RPS Group Plc reported a turnover of £104.8 million, profit before goodwill amortisation and tax of £17.8 million and net assets £110.6 million.

It is believed that the property qualifies for Disadvantaged Area Stamp Duty Exemption, however purchasers should satisfy themselves that this is the case.

We have been instructed to seek offers in excess of £1,250,000 subject to contract for our client’s freehold interest in the above property. This reflects a net initial yield of 8%, assuming purchaser’s costs of 1.75%.