Industrial / Processing Plant at, Blenheim Way, PETERBOROUGH, Cambridgeshire, PE6 8LD

Freehold Industrial Investment
Rent Reserved £290,000 per annum
20 Year Lease with Fixed Rent Reviews

Location:
Northfield Industrial Estate is located on the northern fringes of Market Deeping just off the A1175 at its’ junction with the A15. These are important and strategic road links for the estate. The A15 leads south to
Peterborough (10 miles) and north to Lincoln (42 miles) whilst the A1175 links east to the A16 at Spalding (12 miles) and the A47 leads west to Leicester (41 miles). These important road links make this a hub industrial estate and are of special importance to the business activities of the tenant occupying this unit.

Description:
The property sits within a site of 1.83 acres with the premises comprising two main buildings which total a gross internal floor area of some 3,437 square metres (37,000 square feet). The units provide a range of space for different purposes associated closely to the tenants business (see note).

Note regarding Tennant:
The entire property is occupied under a lease to Ken Read and Son Limited (company number 02403001). The tenant’s website states as follows: Established in 1990 by Ken Read and his son Andrew, KRS combines their experience of more than 40 years in the meat industry. Rapid growth has seen the relocation to brand new purpose built premises in Market Deeping, incorporating state of the art production facilities. As the UK’s leading producer of mechanically separated meat (MSM) KRS boasts an impressive portfolio of customers based at home and overseas. The key to this development has been the unwavering focus upon all that we do. Ongoing & substantial investment in the fabric of the operation
demonstrates our ambition to further develop the business via new markets & associated products.

Tenancy:
The entire property is let to Ken Read and Son Limited (on an effective sale and leaseback) for a term of 20 years from completion with no break clauses. The initial rent is £290,000 per annum and subject to review every fifth year. The rent review is fixed reflecting an increase of 25% of the passing rent at each review (this is an effective annual increase at circa 4.55% per annum compounded) with the lease drawn on full repairing and insuring terms.

Rent Reserved
£290,000 per annum with fixed reviews every 5 years.

VAT:
VAT is applicable to this lot.







Important Notice:
For each Lot, a contract documentation fee of £1,500 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.

The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.

Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.

When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.



1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.