FOR SALE - INVESTMENT - OVERROSS INDUSTRIAL ESTATE, NETHERTON ROAD, ROSS ON WYE HR9 7QQ

FOR SALE - INVESTMENT - OVERROSS INDUSTRIAL ESTATE, NETHERTON ROAD, ROSS ON WYE HR9 7QQ

Main Production Facility and Offices , Overross Industrial Estate , Netherton Road , Ross On Wye , HR9 7QQ

31420 sq ft
For sale £2,150,000

LOCATION
Netherton Road leads directly off Overross roundabout at the junction of the A449 and A40 and close to the M50, approximately 1 mile to the North of Ross On Wye Town Centre.
The area is a well-established commercial location with a range of both local and national occupiers.
The area benefits from excellent road links to both the Midlands via the M50 and M5 motorways and South Wales via the A40 and M4.

DESCRIPTION
Two industrial units that broadly comprise :-
Main Production Facility & Offices
Purpose built detached industrial/production unit with attached two storey offices. Main production unit of steel frame construction with a mixture of facing brickwork and profiled and insulated sheet cladding to the elevations under a pitched, profiled and insulated roof.
Features include:
• Eaves heights of 5m & 6.5m
• 2Nr insulated up and over loading doors.
• Attached two storey offices incorporating a mix of open plan and cellular work spaces.
• Staff welfare and WC facilities
• Car parking and vehicular circulation areas
• The property has a floor area of approximately 24,165 sq ft £2,244.97 sq m, measured on a Gross Internal Area basis (GIA)

Unit 3
A modern detached industrial/storage unit of portal steel frame construction with a mixture of facing brickwork and profiled insulated cladding to the elevations under a pitched, profiled and insulated roof.
Features include :
• Eaves height of approximately 6.3 m
• Vehicular access is via a roller shutter loading door.
• 2 storey office incorporating WC facilities.
• Car parking and vehicular circulation areas.
• The property has a floor area of approximately 7,255 sq ft (673.95 sq m) measured on a Gross Internal Area (GIA) basis.

Tenure.
The vendors own the Freehold interest in the main production facility and a leasehold interest in Unit 3. The leasehold interest commenced on 27th April 2007 and is for a term of 60 years and ending on 26th April 2067. The ground rent is currently £10,000 per annum exclusive.
The properties are let by way of an occupational leases to Edmo Limited on the following main terms.
Main Production Facility.

• A Full Repairing and Insuring lease (subject to a schedule of condition) for a term of 10 years commencing on 1st September 2022 and ending on 31st August 2032.
• A tenants option to break on the 31st August 2027
• A rent review on 1st September 2027
• Passing rental of £128,500 per annum exclusive.

Unit 3

• A Full Repairing and Insuring lease (subject to a schedule of condition) for a term of 10 years commencing on 1st
September 2022 and ending on 31st August 2032.
• A tenants option to break on the 31st August 2027
• A rent review on 1st September 2027
• Passing rental of £36,000 per annum exclusive.

The Tenant.
Edmo Limited were incorporated in 1978 and are specialists in metal fabrication and aluminium extrusions across a range of industries. Their year-end 2022 accounts demonstrate a turnover of £17,267,000 with a pre-tax profit of £804,000.

SERVICES
We understand all mains services are connected to the site.

TERMS
£2,150,000 for the Freehold interest in the main production facility and the remainder of the leasehold interest in unit 3, subject to the occupational leases to Edmo Limited.

OUTGOINGS
The properties currently form part of a rating assessment with other properties.

VAT
Figures are quoted exclusive of VAT

LEGAL COSTS
Each party to be responsible for their own legal fees incurred in the transaction.

OTHER
Services, Fixtures, Equipment, Buildings & Land - none of these have been tested by Jackson Preece Ltd. Any interested party will need to satisfy themselves as to the type, condition and suitability for purpose.

MISPRESENTATION ACT
These particulars are prepared with care, but are not guaranteed and do not constitute, or constitute part of, an offer or contract. Intending purchasers must satisfy themselves of these particulars' accuracy by inspection or otherwise, since neither the vendor, nor Jackson Preece Ltd shall be responsible for statements or representations made. The Vendor does not make or give, and neither Jackson Preece Ltd nor any person in their employment has any authority to make or give any representation or warranty in relation to this property.
We would strongly advise anyone wishing to view this property to contact us first, particularly if travelling any distance, to confirm availability and to discuss any material facts relating to it which are of importance to them and we will endeavour to verify such information.

VIEWING
Strictly by prior appointment with the Sole Letting Agents, Jackson Preece, Surveyors & Commercial Agents 01989 768555