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The premises are available on a freehold basis subject to
the following tenancy. Tenant: Henry Ling Ltd Company Registered No: 224715
Terms:
The premises are let for a term of 5 years
on a fully repairing basis from 4th April 2005 at the following rental levels:
Year 1 - £53,500 per annum
Year 2 - £55,000 per annum
Year 3 - £56,500 per annum
Year 4 - £58,000 per annum
Year 5 - £59,500 per annum
Price:
£850,000 plus VAT. This will show a
purchaser an equivalent yield of 6.28% after allowing for purchasers costs of
5.75%. The premises are currently let at a rental of £5.63 per sq ft
rising to £6.26 per sq ft in year 5. We believe the current rental value
of the premises is in the region of £7.50 per sq ft gross internal, and
therefore offering excellent rental growth in the future. The tenant Henry Ling
Ltd scores A (confidence) on the Experian Credit website, with pre-tax profits
of £587,000, £563,000 and £492,000 for the last 3 years. The
ultimate holding company is Dorset Press Ltd.
Legal Costs:
Each party to be responsible for
their own legal costs. |
