Key Information
- Site area approx. 1.95 acres (0.79 hectares)
- Purpose built warehouse and distribution centre approx. 41,547 sq ft (3,859.8 sq m)
- FRI lease for 40 years, expiring 2047 with single tenant break in April 2032
- Offers sought in excess of £3,750,000, subject to contract, reflecting a net initial yield in excess of 6.67%
- Offers sought in excess of £3,750,000
The property comprises a three-storey office building and a warehouse building, together with external car parking and loading areas. The buildings are occupied by the tenant as a whole, and as such, the two buildings are inter-linking. The construction and specification can be summarised as follows: Age - The buildings date from the 1980s. Construction - The warehouse building is of steel portal frame construction. The office building is of concrete framed construction. Roof - The warehouse and office buildings have pitched steel profile sheet clad roofs. Walls - The warehouse building has steel profile sheet clad elevations. The office building has powder coated aluminium framed glazed curtain wall elevations. Parking - There are two areas of car parking. An area to the north of the site providing 54 spaces that is accessed directly from Elland Road and an area in the south of the site that provides 42 spaces and is accessed from Carrow Road. External Areas - There is a concrete surfaced access way and small loading area to the rear of the warehouse accessed from Carrow Road. Ceiling - The warehouse provides an eaves height of 5.28m. The office building has suspended ceilings. Walls - Steel profile sheet clad elevations within the warehouse. Plastered and painted walls within the office building. Floors and Staircases - Vinyl covered solid concrete walls within the warehouse. Carpeted raised access floors within the office building. Heating - Gas blower heaters within the warehouse. Services - There is a 630kg capacity passenger lift providing access between the floors of the office building. There is a single roller shutter door to the rear elevation of the warehouse. General Specification - Due to the nature of the occupier's business a significant amount of security fit-out has been installed to include CCTV and security containment doors. There are a number of mezzanine areas that have been installed by the tenant as part of their fit-out.
Location
Leicester is a regional centre and the second largest city in the East Midlands. It has an urban population of almost 370,000 and is the 19th largest city in the country. It lies some 25 miles south of Nottingham and Derby and 43 miles east of Birmingham. Swift access is available to London via the Midland Mainline service from the city centre. East Midlands International Airport is some 40 minutes away to the north via the M1 at Castle Donington. Aurum House itself is located prominently at the junction of Elland Road and Wembley Road in Braunstone, just under 5 miles west of Leicester city centre via the A47. The location is immediately accessible to Junction 21, the M1 / M69 interchange, approximately 3 miles away from M1 J21a. The property is prominently situated within an established commercial area adjacent to the recently developed Leicester Distribution Park, comprising in excess of 700,000 sq ft of industrial and office accommodation. Due to its strategic location, other local and national concerns are also housed nearby including National Grid, TBA Group, Parcelforce Worldwide, Crown Bevcan, Oadby Plastics and Samworth Brothers.
VAT
All figures quoted are exclusive of VAT. The property is registered for VAT which will be charged at the prevailing rate.
Rates
The property is currently listed as Warehouse and Premises and has a rateable value of £210,000. Source: VOA
EPC
The premises have an EPC assessment of: D95
Legal Costs
Each party is to bear their own legal costs incurred.
Planning
The tenant is permitted to use the office building for B1 purposes, and the warehouse for B1 and B8 purposes under the former Town and Country Planning (Use Classes) Order 1987.
Viewing
Viewings are by appointment with sole agents Innes England