Woodruff Business Centre, Chichester
FOR SALE
Industrial investment for sale
Situation
Chichester is an historic Cathedral City located approximately 67 miles south of Central London, 25 miles east of Guiodford and approximately 19 miles east of Portsmouth.
The Woodruff Business Centre is in Terminus Road, the principal induistrial area in Chichester and easily accessed from the A27 bypass, a few hundred yards away. Both the bus and railway stations are within a short walk, as is the City centre.
Description
Comprising a terrace of 7 industrial properties of block work construction, with plastic coated steel cladding under pitched roofs. Some of the units have offices at first floor level. To the front of the buildings is designated parking for about 75 vehicles and the entire site comprises approximately 1 acre. The individual properties have the following gross internal floor areas:
- Unit 1 1,128 sq ft
- Unit 2 1,120 sq ft
- Unit 3 1,120 sq ft
- Unit 4 2,904 sq ft
- Unit 5 5,352 sq ft (including mezzanine)
- Unit 6 5,655 sq ft
- Unit 7 2,816 sq ft
Tenancies
As per schedule - available on request.
Tenure
The estate is held leasehold from Chichester District Council on an FRI basis expiring July 2137 thus having approximately 130 years unexpired. The ground rent is currently £3,000 per annum which is reviewed at 10 yearly intervals, the next review is due in June 2008.
The basis of review is that the ground rent reflects 5% of the rack rental value of the buildings on the assumption that they amount to 14,900 sq ft of industrial/office accommodation and 2,000 sq ft of open stores.
The lease allows the lessee to sub-let this property in parts (with landlord’s consent not to be unreasonably withheld) and for sub-leases of less than 25 years, no consent required.
VAT
VAT will be chargeable on the sale.
Viewing strictly by appointment. Contact us at 01243 786221, or by email properties@nashpl.com