INDUSTRIAL INVESTMENT
Units 1-4, 2 Cannon Road, Newton Abbot, TQ12 6SG
- 13
Key features
Guide Price: *
£465,000
Fees apply
Buyer's fee:£3,600
All fees include VAT at 20%
Holding Deposit: *£1,400
*Only charged if you are the successful buyer and goes towards the purchase price
Auction Type:
Traditional
Sold for:
£455,000Bid history
1 bidR
26/09/2023 11:17:51 - £455,000
An investment opportunity to acquire this exceptional industrial unit which is arranged as a terrace of 4 smaller units with associated secure yard area. These units are located within the highly sought-after Heathfield Industrial Estate which is known and favoured for its strategic location and excellent connectivity.
Situated in a readily-accessible spot, this fully let property, with current rents passing of £25,800pa, offers a prime investment opportunity for discerning buyers seeking a strong-yielding income stream, particularly as the currents rents are deemed under market-value.
TENURE
Freehold subject to tenancy.
TENANCY
The property is held on a 6 year FRI lease from 3rd October 2005 with current rents passing of £25,800pa. Tenants are now ‘holding over’ so the reversionary interest will be of serious interest to investors.
FEATURES - Size: The industrial units span an impressive floor area of approximately 5,228 square feet (please verify by independently measuring for accuracy), providing ample space for various industrial and commercial activities. - Construction: The property boasts a modern and sturdy construction, designed to meet the demands of industrial operations. - Layout: The unit comprises open-plan warehouse space, ideal for storage, manufacturing, or distribution purposes. Additionally, there are dedicated office areas, staff facilities, and restroom facilities. - Loading Facilities: The unit is equipped with convenient loading and unloading facilities, such as roller shutter doors and loading bays, ensuring seamless logistics operations. - Height and Clearances: The unit offers generous height clearances, allowing for efficient vertical storage and accommodating machinery and equipment of various sizes. - Parking: The property provides ample on-site parking for employees, customers, and visitors, ensuring convenient access to the premises.
ACCOMMODATION
The property comprises a detached industrial building which is subdivided into 4 terraced units each with front roller shutter access doors, separate pedestrian access door, separate services and WCs. One of the units has a small mezzanine with offices (Unit 2) and Unit 3 also has a small storage mezzanine area. To the front of the building is a large surfaced yard area used in common with all 4 units with security fence to the perimeter. The yard extends around the building on the northern side of the building.
EPC
Rating: C.
IMPORTANT INFORMATION
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum (if applicable), which will be available on Auction Day.
AUCTION LEGAL PACK & FINANCE
Copies of the legal pack and special conditions of sale are available online to be downloaded, via the tab on the online auction property listing page. It is the purchaser’s responsibility to make all necessary legal and finance enquiries prior to the auction.
PRICE INFORMATION
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve price (a figure below which the Auctioneer cannot sell the Lot during the Auction). This reserve figure cannot be higher than 10% above a single figure guide. Please check our website regularly at www.247propertyauctions.co.uk or contact us on 01395 247000 for up to date information. Following the fall of the hammer contracts are exchanged and there is no going back!
AUCTIONEERS NOTE: The buyer will reimburse the seller(s) in the sum of 1% plus VAT of the purchaser/hammer price by way of a contribution towards their general legal and disbursement costs.
Summary
- Auction end
- 26th Sep at 11:25
- Property type
- Commercial
- Tenure
- Freehold
- Bedrooms
- 0
- Bathrooms
- 1
- Council tax band
- Ask Agent
Summary
- Auction end
- 26th Sep at 11:25
- Property type
- Commercial
- Tenure
- Freehold
- Bedrooms
- 0
- Bathrooms
- 1
- Council tax band
- Ask Agent
This property is being sold by:
247 Property Auctions
01395247000
info@247propertyauctions.co.uk
†Traditional auction
Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property. To ensure that the successful bidder proceeds, the buyer is automatically charged a holding deposit, which is held in a secure client account, pursuant to the terms of a holding deposit agreement.
* Pricing Information
The Guide Price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a Reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the Guide Price amount.
Bamboo Auctions and 247 Property Auctions shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box above or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail.
Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.
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Disclaimer
All information relating to this property, including descriptions, pictures and other related information has been provided by 247 Property Auctions. All legal documents in relation to this property have been provided by the Vendor's solicitor. Neither Bamboo Auctions or any individual in employment with Bamboo Auctions makes any warranty as to the accuracy or completeness of any of the property information.
These particulars do not form part of any contract or offer. Buyers should not rely on them as statements of representation and should check that the information is correct by inspection or otherwise. Where there is a conflict between the contents of the legal documents and these particulars, the information contained in the legal documents shall prevail.
