FOR SALE - SINGLE LET INDUSTRIAL/WAREHOUSE INVESTMENT
Size : 81,246 sq.ft ( 7548.00 m2 )
St. Neots is the largest town in
Cambridgeshire (approx. population - 26,000), and offers excellent access to
London (35-50 minutes by train), Cambridge (30 mins by car), Peterborough and
other cities. The A1 by passes the town
providing excellent north/south communications. The A14 (A1/M1 link) lies 8
miles to the north. The subject property is situated midway on the south side
of Cromwell Road (B1046). Cromwell Road connects with Barford Road (B143) and
Cambridge Road (B1428) approximately 1.3 miles from the town centre and 5-15
minutes' walk from St. Neots' railway station.
The property comprises two industrial warehouse buildings totalling approx. 81,000 sqft situated on a site area of 4.1 acres registered under title no's CB330777 and CB217835.
7 Cromwell Road is the original building occupied by Coveris and used for their packaging process, offices and staff facilities. The main building is of steel portal frame construction having a minimum eaves height of 6.5 metres clad to the external elevations with profile steel sheeting. The building fronts Cromwell Road and has extensive parking. All main services are connected. 9 Cromwell Road is a recent addition to the operation. The building has undergone new and extensive refurbishment works to include new roof, cladding, access doors and flooring. The building is of steel portal frame construction with a minimum eaves height of 6.6 metres and includes additional offices and staff facilities at ground and first floor levels. There is a loading yard to the rear of the building and the yard area between the two buildings has been resurfaced.
7 Cromwell Road 37,835 sq.ft ( 3514.99 m2 )
9 Cromwell Road 43,411 sq.ft ( 4033.01 m2 )
Total 81,246 sq.ft ( 7548.00 m2 )
The two buildings are held under one new
tenancy to Coveris Flexibles UK Limited (Reg. No. 02925612) ( a wholly owned subsidiary of COVERIS who are the sixth largest global plastic packaging company in the world) on a 15 year full repairing and insuring lease commencing 3rd
October 2017 subject to a tenant option to break in October 2027. The passing rent is £425,000 per annum exclusive
which is to be reviewed 5 yearly on an upward only basis.
Each party to bear their own.
The property is elected for VAT. However it is anticipated the sale will be treated by way of a Transfer of a Going Concern (TOGC)