Tate Business Park, West Pinchbeck, Spalding PE11 3LX

10 Acre Business Park in South Lincolnshire

Revenue ERV Circa £338,000 per annum plus VAT

Price Guide - Offers in excess of £3,600,000

Size - Approximately 10 Acres
Offices - 6,548 Sq Ft
Industrial Units/Storage - Circa 70,000 Sq Ft
Storage land - Circa 7.5 acres
Price - £3,600,000
Legal Fees - Both parties will be responsible for their own fees
VAT - No VAT on the purchase price
EPC - Available on request

An opportunity to purchase an established Business Park part occupied by the owners and part let to tenants.

The owner currently occupies one half of the offices (3,274 Sq Ft) and circa 10,500 Sq ft of the Industrial Storage Units and has full control of the balancing unoccupied storage land.

The other half of the offices are occupied by Freckleface on a 10 year lease from Feb 22 who also occupy circa 9,500 Sq Ft of the Industrial Storage units. The remaining Circa 50,000 Sq ft Industrial/Storage units ate let to a variety of tenants on leases commencing on different dates. A schedule of tenants and lease terms is available on request.

Short terms lease/licence agreements are in place for the storage of trailers and/or containers on land to the rear with considerable potential for additional development or lettings.

Structures - The offices are brick built below a pitched tile covered roof over 3 floors with individual offices, Kitchen and Wc Facilities.

The industrial storage units are mainly steel portal framed with most having an eaves height of 5m plus with roller shutter doors.

Location - Positioned in Pode Hole which is approximately 2.5 miles to the West of Spalding on the main A151 to Bourne and approximately 20 miles from the A1 at Stamford.

Lettings Revenue - Offices and Industrial unit let to Freckleface from Feb 22 for 10 years at £60,000 per annum plus VAT
Remaining Industrial Storage Units let to 5 different tenants with an annual rent of Circa £178,000 per annum plus VAT
Container and trailer storage for 7 tenants with a combined revenue of £35,000 per annum plus VAT

Total Net revenue of £273,000 per annum plus VAT
In addition, Space occupied by the Vendor has an ERV of circa £65,000 per annum

Combined ERV of circa £338,000 per annum plus VAT when fully let.