Commercial Property Investment the Aspire Centre, Burford, Tenbury Wells Shropshire, WR15 8HE
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Commercial Property Investment The Aspire Centre, Burford, Tenbury Wells Shropshire, WR15 8HE Price £875,000+VAT For Sale Subject to contract Virtual Tour Available Warehouse Virtual Tour Available Offices Upon Instructions from Shropshire Council Former Training Centre/warehouse/offices and workshops Part Vacant possession Actual and Anticipated Total income c £70,0000 pa Total Gross Internal Floor Area: c.1,157.24 sq m/12,456 sq ft on 0.83 acres (Existing businesses unaffected) DESCRIPTION Built c.2000 to a distinctive modern design, the Aspire Centre was originally an engineering training centre arranged as a large workshop/warehouse with integral classrooms, offices/conference rooms and external amenity and delivery areas together with a range of 8 small workshop/warehouse premises currently occupied by a range of local businesses. The building is of portal steel frame construction, with brick elevations and a tanalized steel roof. It offers well appointed accommodation suitable for a variety of commercial purposes. Within the Centre is parking for about 30 cars/light vans beside a shared access road, with delivery areas and additional parking in front of each workshop unit. The Centre Building has landscaped forecourt and external reception area. SITUATION The site occupies an established position on the edge of Tenbury Wells. It adjoins a range of existing commercial premises including the Kerry Foods complex and the Lower Teme Business Park with housing immediately to the west and opposite. The property fronts the A456 road which links Kidderminster and the West Midlands with the Ludlow/Leominster/Welsh Border area. Local amenities in the town are about ¾ mile distant. Tenbury is a popular market town at the head of the picturesque Teme Valley about 10 miles from Ludlow, 20 miles from Worcester and 25 miles from Kidderminster. TENURE The Property is shown edged blue on the plan overleaf. It is held partly freehold and partly on a 999 year lease from 1861 at a peppercorn rent. There is a right of way at all times and all purposes along the Centre access road in favour of Kerry Foods for access into their car park. Currently the Aspire Building (former training centre/offices/warehouse )shown edged red on the plan is vacant. It is available to let on a new lease at a rent of £42,000 pa exclusive - see separate particulars for full details. The workshop units are let on a range of leases to Shropshire Councils standard small business unit format, producing a net rent of c £28,000 pa. External repairs, buildings insurance and the costs of maintaining common areas are recovered from the tenants by way of a service charge. A separate schedule of tenancies is available upon request. ACCOMODATION (all measurements are on a gross internal floor area basis) Aspire Building - offices/warehouse/workshop 787.68 sq m Units 1 - 8 Workshop units each of c. 46.72 sq m - 369.56 sq m Total Gross internal floor area 1,157.24 sq m (12,456 sq ft) Total Site Area approx. 3,375 sq m ( 0.83 acre) ENERGY PERFORMANCE CERTIFICATE Aspire Building - Energy Performance Asset Rating: D (83) Workshop Units - Energy Performance Asset Rating typically D (84) Copies of each EPC are available upon request. TOWN PLANNING/USE The Aspire Building is understood to have an established use as an education and training centre, but a change of use to Class E/B2/B8 has been applied for. Prospective occupiers should rely on their own enquiries with the Planning Authority as to whether planning permission is necessary for their proposed use. The centre is within a zoned employment location. LOCAL AUTHORITY Shropshire Council The Shirehall Abbey Foregate Shrewsbury SY2 6ND 0345 678 9000 COSTS Each party is to pay their own legal and surveyors’ costs in respect of the transaction. SERVICES All main services are understood to be available subject to connection by the utility companies. VAT All prices and rents mentioned in these details and subsequent correspondence are exclusive of VAT, if applicable. At the time of preparation of these particulars the Landlord had elected to charge VAT on the rents and sale price. A sale on a TOGC basis can be arranged. PROPOSITION The whole property is for sale by private treaty subject to the tenancies as listed, and with vacant possession of the Aspire Building. When fully let at the asking rent for the Aspire Building, it is estimated that the net rental income will be c.£70,000 pa which will give a gross yield before costs of c.8.%. The initial yield based on the current income is c.3.20%. Subject to a Buyer’s proposed use, purchase timetable and funding arrangements assistance from Marches LEP or other sources may be available to owner occupiers. Further details upon request. It is recommended that possible Buyers take appropriate professional advice before submitting any offer. Proof of identity, confirmation of funds and an awareness of the condition of the Property (i.e. via a building survey) will be needed before any formal offer is considered. ANTI-MONEY LAUNDERING & IDENTIFICATION VERIFICATION To comply with governmental anti-money laundering regulations, identification checking, funding confirmation and funding source alongside routine references and credit checking will be required for al parties leasing or purchasing property. VIEWING/FURTHER INFORMATION By arrangement with Cooper Green Pooks – ask for Charles Howell [email protected] or Lizzy McNally [email protected] 01743 276666 VIRTUAL TOUR Aspire Building Complex Warehouse - Click Here https://my.matterport.com/show/?m=zgUas3TDHVh Offices - Click Here https://my.matterport.com/show/?m=9hGpbiWLCaS EXTERIOR Aspire Building interior Kerry Foods Kerry Foods Kerry Foods New Housing Development Tenbury Site Site Plan For Identification Only - Not to Scale Ludlow Reproduced from the Ordnance Survey Map containing Ordnance Survey data © Crown copyright and database right 2010-12. With the permission of © OpenStreetMap contributors. OpenStreetMap® is open data, licensed under the Open Data Commons Open Database License (ODbL) by the OpenStreetMap Foundation (OSMF). Data is available under the Open Database Licence, and the cartography is licenced as CC BY-SA and may be found at https://www.openstreetmap.org/copyright. IMPORTANT NOTICE: Cooper Green Pooks for themselves and for the lessors or vendors of this property whose agents they are give notice that: 1 No appliances, services or service instal- lations have been tested and no warranty as to suitability or serviceability is implied. Any prospective purchaser or lessee is advised to obtain verification from their surveyor or solicitor. 2. The particulars are set out as a general outline only for the guidance of the intended purchasers or lessees and do not constitute, nor constitute part of, an offer or contract. 3. All descriptions, reference to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct but any intending purchasers or lessees should not rely on them as statements or representation of fact but satisfy themselves by inspection or otherwise as to the correctness of each of them. 4. No person in the employment of Cooper Green Pooks has any authority to make or give any representation or warranty whatsoever in relation to this property. 5. All rentals and prices are quoted exclusive of Stamp Duty, legal and surveyors fees and any other associated purchasers or lessees costs. 6. Floor plans are indicative only and should not be relied on. 7. The plan showing the boundary of the property is indicative only and has not been checked against the legal title so should not be relied on. 8. All dimensions, floor areas and site areas are only approximate and should not be relied on. Dimensions are generally maximum room dimensions. .