Light industrial for sale in Wyberton Fen, Boston PE21
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Boston an established and expanding market town in South Lincolnshire and is located approximately 16 miles east of the market town of Sleaford and 34 miles south east of the city of Lincoln. Boston has a resident population of approximately 65,000 people with a large and expanding catchment area.
The subject property is located just off the A1121, one of the main arterial routes into the town centre from the Lincoln and Sleaford direction. The area is predominately commercial in nature and the subject properties are located immediately to the rear of the Falcon Mercedes Benz and Marshall Nissan Car Dealerships as well as being in close proximity to Endeavour Park, one of the town’s major Office Parks.
The properties briefly comprise a pair of detached steel portal framed Workshop/Warehouse premises located on a rectangular site with frontage onto Great Fen Road, with internal craneage and a 3 phase electricity supply being provided.
The properties have eaves heights ranging from approximately 3.2m and 4.5m (10’ 6” and 14’ 9”) with each having gable end access for vehicles and with the site being majority surfaced with car parking to the western portion and with surfaced aprons/hardstanding between the buildings.
In terms of gross internal area, the buildings comprise the following (all figures approx.)
Western Workshop/Warehouse (5 tonne crane) - 19,180 sq ft (1,782 sq m)
Eastern Workshop/Warehouse (2.5 tonne crane) - 19,310 sq ft (1,794 sq m)
We understand that mains electricity (with a 3 phase supply), and water are connected to the properties. We understand that drainage is to a private system. We would advise prospective purchasers to clarify these issues with the relevant Statutory Authorities prior to entering into a commitment to acquire these properties.
The property is to be sold by way of a freehold title subject to the two occupational leases as follows.
The eastern Workshop/Warehouse is let for a 12 month term from 25th June 2017 to Agricultural Machinery Sales Ltd at a rent of £29,000 per annum excluding VAT if applicable. The lease is contracted out of Sections 24-28 of The Landlord & Tenant Act 1954 Part &921;&921;. The lease can be terminated at 3 months’ notice.
The western Workshop/Warehouse is occupied by Guardian Storage Ltd for a 10 year term from 29th August 2017 at a rent of £29,000 per annum. The lease contains an upward-only rent review to occur on 1st November 2021 and is held by the tenant on an effective full repairing and insuring basis. This lease is protected by the Security of Tenure provisions of Sections 24-28 of The Landlord & Tenant Act 1954 Part &921;&921;.
We are quoting an asking price of “offers in excess of £475,000” for the freehold interest in these premises subject to the terms of the two leases described above which provides a net initial yield of just over 11.5% after the addition of usual acquisition costs to include Stamp Duty Land Tax, Agents and Solicitors fees.
We understand that the property is assessed as a single assessment under the 2010 Rating List as a Workshop & Premises with a Rateable Value of £47,250. Further information in respect of this matter and the level of Business Rates payable can be obtained from Boston Borough Council. Tel:
The asking price quoted herein is exclusive of, but may be liable to, VAT at the prevailing rate and you are advised to clarify this point prior to making an offer to acquire this property.
Each party will be responsible for their own legal and professional costs incurred in any transaction negotiated.
The premises have been used for manufacturing and storage purposes for a number of years and we understand that planning consent is currently granted under Use Classes B2 & B8 of the Town & Country Planning (Use Classes) Order 1987 covering general Industrial and Warehousing/Storage uses. The area immediately surrounding the subject properties is allocated in the Boston Borough Council Interim Local Plan (2006) as “proposed Business Park expansion land” where uses falling under Use Classes B1B, B1C, B2 & B8 are all deemed to be acceptable in principle. We would recommend that prospective purchasers clarify the current and potential allowable uses for the premises and site with the Planning Department at Boston Borough Council. Tel:
For further information, or an appointment to view the properties concerned, please contact either:
Brown & Co
Tel: Fax: Email:
Contact: James Cameron
Alternatively, please contact our Joint Sole Agents whose details are as follows:
Contact: Mark Swiers
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Boston West Academy
Carlton Road Academy
Bridge House Independent School
Linkage Community Trust
Haven High Academy
The Boston Grammar School
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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Brown & Co, and do not constitute property particulars. Please contact Brown & Co for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.
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