Property Description
INVESTMENT SUMMARY
* Pintail Business Park is a small trade warehouse/business unit development located to the south of Ringwood Town Centre adjoining the B3347 Christchurch Road
* 184 sq. m. (1,980 sq. ft.)
* Let to Hyphose Limited
* Lease for a term of 6 years from 5th July 2016
* Rent £18,500 pa.
* Price £285,000 reflecting a net initial yield of 6.3% after purchaser's costs of circa. 3%
DESCRIPTION
The property comprises an end of terrace business unit constructed in 2016. The unit incorporates a full first floor which has been fitted out to provide high quality office accommodation.
TENANCY DETAILS
The property is let in its entirety to Hyphose Limited for a term of 6 years from 5th July, 2016. The current passing rent is £18,500 pa.
The property is currently occupied by Manta Makes Limited by way of a sublease which expires on 1st July, 2022. The current passing rent under the terms of the sublease is £18,500 pa. The sublease is excluded from the security of tenure provisions contained within Sections 24-28 of the Landlord and Tenant Act 1954.
COVENANT
Hyphose Limited is a company formed in 1980 as a premier supplier of hose products to the industrial/automotive/marine sectors. For the year ended 31.12.2019 the company had net assets of £371,000.
PRICE
£285,000 - Reflecting a net initial yield of 6.3% after purchaser\\\'s costs of circa. 3.0%.
(** PLEASE click the link to download marketing particulars or contact Simon West for further details -----
Measurements
Unit 7 Pintail Business Park 165 Christchurch Road Ringwood - Hyphose LimitedMeasurement | imperial | metric |
---|
Industrial/Warehouse | 10,657 sq.ft | 990 sq.m |
1st Floor Offices | 10,657 sq.ft | 990 sq.m |
Total Floor Area | 21,313 sq.ft | 1,980 sq.m |
Agent's Disclaimer
MESSRS COWLING & WEST FOR THEMSELVES AND FOR VENDORS OR LESSORS OF THIS PROPERTY WHOSE AGENTS THEY ARE GIVE NOTICE THAT: THE PARTICULARS ARE SET OUT
AS A GENERAL OUTLINE ONLY FOR THE GUIDANCE OF INTENDED PURCHASERS OR LESSEES, AND DO NOT CONSTITUTE, NOR CONSTITUE PART OF, AN OFFER OR CONTRACT; ALL
DESCRIPTIONS, DIMENSIONS, REFERENCES TO CONDITION AND NECESSARY PERMISSIONS FOR USE AND OCCUPATION, AND OTHER DETAILS ARE GIVEN WITHOUT RESPONSIBILITY
AND ANY INTENDING PURCHASERS OR TENANTS SHOULD NOT RELY ON THEM AS STATEMENTS OR REPRESENTATIONS OF FACT BUT MUST SATISFY THEMSELVES BY INSPECTION
OR OTHERWISE AS TO THE CORRECTNESS OF EACH OF THEM; NO PERSON IN THE EMPLOYMENT OF MESSRS COWLING & WEST HAS ANY AUTHORITY TO MAKE OR GIVEN ANY
REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.
Sale Terms
Offers are sought in excess of £285,000 subject to contract and exclusive of VAT.
Tenant, lease and rent summary
165 Christchurch Road Ringwood BH24 3AL
Unit | Tenant | Rental Income | Lease Dates |
Unit 7 Pintail Business Park |
Hyphose Limited |
£18,500 £0.87 psf |
12022 -expiry No -break |
Total Rent |
|
£18,500 |
|
Covenant Information and other comments:
Hyphose LimitedHyphose Limited is a company formed in 1980 as a premier supplier of hose products to the industrial/automotive/marine sectors. For the year ended 31.12.2019 the company had net assets of £371,000.00
Agent's Disclaimer
MESSRS COWLING & WEST FOR THEMSELVES AND FOR VENDORS OR LESSORS OF THIS PROPERTY WHOSE AGENTS THEY ARE GIVE NOTICE THAT: THE PARTICULARS ARE SET OUT
AS A GENERAL OUTLINE ONLY FOR THE GUIDANCE OF INTENDED PURCHASERS OR LESSEES, AND DO NOT CONSTITUTE, NOR CONSTITUE PART OF, AN OFFER OR CONTRACT; ALL
DESCRIPTIONS, DIMENSIONS, REFERENCES TO CONDITION AND NECESSARY PERMISSIONS FOR USE AND OCCUPATION, AND OTHER DETAILS ARE GIVEN WITHOUT RESPONSIBILITY
AND ANY INTENDING PURCHASERS OR TENANTS SHOULD NOT RELY ON THEM AS STATEMENTS OR REPRESENTATIONS OF FACT BUT MUST SATISFY THEMSELVES BY INSPECTION
OR OTHERWISE AS TO THE CORRECTNESS OF EACH OF THEM; NO PERSON IN THE EMPLOYMENT OF MESSRS COWLING & WEST HAS ANY AUTHORITY TO MAKE OR GIVEN ANY
REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.
There are no plans available to view for this property. Contact the agent for further information
Property Location
Pintail Business Park immediately adjoins the busy B3347 Christchurch Road approximately 0.5 mile to the south of Ringwood town centre. The units enjoy easy vehicular access via the B3347 Christchurch Road to the A31 dual carriageway which links Ringwood to Southampton and the National Motorway network to the east and Bournemouth and the Poole conurbation to the west. The A338 also provides a direct link to Salisbury to the north.
In recent years Ringwood has proved an extremely popular business location demonstrated by the success of developments such as Pintail Business Park and the adjoining Forest Gate Business Park. Local occupiers include Elliotts Builders Merchants, McCarthy & Stone, Eberspacher, Bellway Homes and CoMax UK.
Pintail Business Park also immediately adjoins the recently constructed Lidl supermarket.
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