Warehouse and manufacturing operation incorporating self-contained yard with a passing annual rental of £70,000 exclusive. For Sale at £875,000 which represents a 7.49% yield.
Langar is a village located in the Vale of Belvoir and lies approximately 12 miles south-east of Nottingham and 4 miles south of Bingham. The A46 is approximately 4.5 miles to the east which provides access to Leicester in the South and Newark in the North. The A52 is some 5 miles to the north and provides access to Nottingham and the M1 Motorway. The property is situated to the south of the village at the junction of Harby Road and Coach Gap Lane. The area is an established industrial and distribution location with some key occupiers such as John Deere Ltd UK Head Office.
The property comprises a range of industrial/warehouse style buildings separated by a self-contained yard on a site extending to approximately 0.77 hectares (1.90 acres). The modern warehouse unit, fronting Harby Road, is of steel portal frame construction with cavity block and brick walls and insulated profile steel cladding to the eaves. The roof covering is also of profile steel cladding incorporating translucent light panels which provide good natural light to the warehouse unit.
The property benefits from a roller shutter door accessed from the yard plus a dock level loading adjoining.
The property provides the following gross internal areas:
Sq. M. Sq. Ft.
Modern Warehouse 959.53 10,329
Workshop 559.55 6,023
Warehouse/Workshop 326.47 3,514
Office 207.52 2,234
Total Gross Internal Area 2,053.07 22,100
Mezzanine 159.68 1,718
Canopy 28.14 303
*The agent has not carried out a measured survey of the property and the approximate gross internal areas have been provided to us.
All mains services are connected to the property. The agent has not tested the services and potential purchasers are advised to make their own enquiries.
We are informed that the part of the property and yard is held on a freehold basis. The remaining buildings together with part of the yard area are held on a long leasehold interest for a term of 125 years from Rushcliffe Borough Council from 27 November 1998.
The whole property is let on an extension of an existing lease dated 25th July 2007, expiring on 31st December 2026. The passing rental is £70,000 pax subject to an upwards only rent review as at 1st January 2021.
The property is being offered for sale by way of a Transfer of a Going Concern (TOGC).
All prices quoted are exclusive of VAT which may be chargeable.
Each party is to bear their own legal costs incurred in the transaction.
We understand from our enquiries that the property was subject to a Planning Application (03-00105-FUL) for the erection of warehouse and offices for the purposes of B8 warehousing under the Town and Country Planning (Use Classes) Order 1987. This was the most recent application which was granted on 15th August 2003. Interested parties are advised to make their own enquiries directly with the Local Planning Authority, Rushcliffe Borough Council.
Strictly by appointment with the Sole Agent;
Simon Parsons, BSc (Hons) MRICS
Head of Commercial Agency