Lot 80 Freehold Business Park For InvestmentAuction Date:
15th June 2023
Millbrook Business Park, Millbrook, Torpoint, Cornwall, PL11 3ED
Currently Let at £24,626 per annum - plus maintenance rent of £2,711 per annum
A rare opportunity to acquire a fully let business park comprising eight light industrial units, each with a roller shutter door and associated parking provision. Situated in South East Cornwall just off the B3247, the business park is located close to the Torpoint ferry terminal which provides access to the city of Plymouth.
The site may offer future potential for a range of alternative uses including, perhaps, residential development, subject to all necessary consents being obtainable.
Unit 1
Tenancy
Subject to a lease agreement commencing 28th September 2021, expiring 27th September 2027 at a current rental of £2,500 per annum. A rent review is scheduled within the lease for 15th September 2024.
Unit 2
Tenancy
Subject to a lease agreement commencing 15th September 2021, expiring 14th September 2027 at a current rental of £2,500 per annum. A rent review is scheduled within the lease for 28th September 2024.
Unit 3
Tenancy
Subject to a lease agreement commencing 27th August 2021, expiring 26th August 2027 at a current rental of £2,500 per annum. A rent review scheduled within the lease for 27th August 2024.
Unit 4
Tenancy
Subject to a lease agreement commencing 6th October 2021, expiring 5th October 2027 at a current rental of £4,500 per annum. A rent review is scheduled within the lease for 6th October 2024.
Unit 5
Tenancy
Subject to a lease agreement commencing 6th October 2021, expiring 5th October 2027 at a current rental of £2,500 per annum. A rent review is scheduled within the lease for 6th October 2024.
Unit 6
Tenancy
Subject to a lease agreement commencing 19th September 2017, expiring 18th September 2023 at a current rental of £2,484 per annum.
Unit 7
Tenancy
Subject to a lease agreement commencing 11th February 2021 and expiring 10th February 2025 at a current rental of £4,737 per annum.
Unit 8
Tenancy
Subject to a lease agreement commencing 31st August 2021, expiring 30th August 2027 at a current rental of £2,900 per annum. A rent review is scheduled within the lease for 31st August 2024.
Auctioneer’s Note
It is understood that the site has mains electric and a rainwater harvesting system for storm water and sewage while the site does not currently have access to running water.
Site Measurements
Approximately 0.31 hectares (0.78 acres).
Local Planning Authority
Cornwall Council. Tel: 0300 1234 151. Website: cornwall.gov.uk.
Viewing
Strictly by prior arrangement with the auctioneers. Interested applicants are requested not to contact the tenants direct.
Directions
The property can be located via the What3Words app using ///prevents.prude.darts
There is an addendum available to be read
in conjunction with the legal documentation.
Important
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.
* Price Information
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).
We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
Additional Fees
An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.
All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to Buyers Fees
