The property comprises an 89 space surface car park situated on a site of approximately 0.60 acres (0.24 hectares).
The car park is let to Excel Parking Services Limited (company number: 02878122) on a lease commencing 23rd November 2018 and expiring on 22nd November 2023 (4.9 years unexpired). There is a rolling Landlord break option from the 23rd November 2019 subject to serving 3 month prior written notice, conditional on the Landlord receiving planning consent for redevelopment. Should the local planning authority take enforcement action, preventing the permitted use of the property as a car park, there is a rolling Tenant break option from 31st August 2020 subject to serving 2 week prior written notice.
The current passing rent is £115,000 per annum (£1,369 per space).
Formed in 1994, Excel Parking Services provides car park management services to a wide variety of clients nationwide. Their partners and clients include institutional, corporate and private landlords as well as local authorities and NHS trusts. They have an annual turnover of approximately £14.5 million.
Excel Parking Services Limited have a Dun and Bradstreet Rating of 3A 1, reflecting a minimum risk of business failure.
Listed Features
- Parking
