Lot 90 - Leasehold – 250 year lease, Darcy Business Park, Llandarcy, Neath Port Talbot, SA10 6EJ

  • Unconditional Online Auction Sale
  • Guide Price* : £75,000+
  • Bedrooms: 0

Headlease Interest in Multi Let Industrial Estate with Long Leasehold Interests

Description

ONLINE AUCTION from 19th OCTOBER-21st OCTOBER

This multi-let industrial estate is one of three along the Darcy Business Park road. Adjoining occupiers comprise of a number of local and national traders such as Screwfix and Shaw Trust.

J43 of the M4 motorway lies within less than 500 metres of Coed Darcy and provides easy access to both East and West Wales, with Cardiff being located less than 40 minutes drive east on the M4. There is also direct access on to the A465 leading to the Midlands.

Please Note: This sale is subject to VAT

The site is fully let on long leasehold interests, the tenancy schedule as below:
Please note that there is potential to carry out rent reviews every 5th year for plots 5A, 6 and 6A:
The purchaser will be responsible for operating its own service charge in relation to the LOT and will be required under the 250 year lease to be granted to contribute on demand to the cost of the repair and maintenance of the estate road and other items used in common:
Plot 5 –deposit of £2,037.02 currently held
Plot 6 – deposit of £1,145.02 currently held

Please Note:
• Unit 5A has an outstanding rent review from 2017 and another due in 2022
• Unit 6 has an outstanding rent review from 2017 and another due in 2022
• Unit 6A has an outstanding rent review from 2017 and another due in 2022

Accommodation

UNIT TENANT Lease Type Lease Start Lease End Term UNEXPIRED ANNUAL RENT GROSS
Darcy Business Park - Plot 5 Barbara Blanche and Michael John Couser LLH 24-Jun-87 21-Jun-12 124 yrs 11 mths 29 days 90 years, 9 months Peppercorn
Darcy Business Park - Plot 5A G D Cottle & A Pettican LLH 24-Jun-87 21-Jun-12 124 yrs 11 mths 29 days 90 years, 9 months £1,778
Darcy Business Park - Plot 6 Hornbill Industrial Training Limited. LLH 24-Jun-87 21-Jun-12 124 yrs 11 mths 29 days 90 years, 9 months £2,228
Darcy Business Park - Plot 6A Hornbill Engineering Ltd. LLH 24-Jun-87 21-Jun-12 124 yrs 11 mths 29 days 90 years, 9 months £2,654

Outside: Parking

Tenancies

Multi tenanted, see tenancy schedule above

Tenure

New 250 year leasehold interest to be granted to purchaser by the freeholder St Modwen Developments Ltd. The existing headlease to Coed Darcy Limited registered under title number WA546907 is to be surrendered prior to the grant of the new 250 year lease - to be verified by a solicitor

Auction Fees And Additional Costs

Auction fees: The sale of each lot is subject to a buyer’s premium of 1.2% of the purchase price (subject to a minimum of £975) including VAT unless otherwise stated.

Additional costs: The purchase of the property may be subject to (but are not limited to), VAT (if applicable), reimbursement of the seller’s search fees, reimbursement of seller’s legal and/or sales costs, stamp duty/land transaction tax (LTT). Please check accompanying legal pack for further details.

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

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Office Contact

Debra Bisley

Documents

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