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George Summers Clos
Rochester ME2 4GU
Cliffe Court · Industrial Property For Sale · 8,280 SF
Investment Highlights
- Good road connections
- Close to River Medway
- Amenities nearby
Executive Summary
The unit forms part of a small development of business units known as Cliffe Court. This has been constructed at the southern end of George Summers Close, towards the north-eastern outskirts of Medway City Estate. George Summers Close is approached by way of Anthonys Way. Anthony's Way and Sir Thomas Longley Road are the principal roads serving the estate. They provide ready access to the Medway Tunnel and the Northern Relief Road. These together with other roads effectively provide a bypass around the north of the Medway Towns, giving access to the M2 in the east and the A2 in the west. Ready vehicular access is therefore available to the principal highway network and in particular the northern part of the Medway Towns. The Medway City Estate is an established commercial area where some 2 million square feet of accommodation has been developed over the last 40 years or so. The estate lies to the north of Rochester City Centre and enjoys access to both Junctions 1 and?4 of the M2 motorway via the Medway Towns Northern Relief Road (A289) and the Medway Tunnel.
PROPERTY FACTS Sale Pending
| Unit Size | 3,203 SF | Sale Type | Investment |
| No. Units | 1 | Building Class | B |
| Total Building Size | 8,280 SF | Floors | 1 |
| Property Type | Industrial (Condo) | Typical Floor Size | 8,280 SF |
| Property Subtype | Service | Year Built | 2000 |
| Unit Size | 3,203 SF |
| No. Units | 1 |
| Total Building Size | 8,280 SF |
| Property Type | Industrial (Condo) |
| Property Subtype | Service |
| Sale Type | Investment |
| Building Class | B |
| Floors | 1 |
| Typical Floor Size | 8,280 SF |
| Year Built | 2000 |
1 Unit Available
Unit 8
| Unit Size | 3,203 SF | Tenure | Freehold |
| Condo Use | Industrial | Cap Rate | 6.45% |
| Sale Type | Investment | NOI | $32,583.98 |
| Unit Size | 3,203 SF |
| Condo Use | Industrial |
| Sale Type | Investment |
| Tenure | Freehold |
| Cap Rate | 6.45% |
| NOI | $32,583.98 |
Description
The unit forms part of Cliffe Court, a development of 8 similar business units arranged in two terraces of 4. Unit 8 is end of terrace at the front of the estate.
The unit is of a steel frame construction, spanning from front to rear and thus providing clear span accommodation. The lower front elevations are faced in brickwork, assumed to be of conventional cavity construction, with the remainder being faced in coated profile metal cladding. This is apparently of double skin construction, presumably incorporating insulation. This latter material has also been used for the roof covering, which incorporates double skin roof lights to provide daylight within the properties.
The unit has independent commercial access by way of a sectional up and over door. It also has separate personal
access from the front, with a fire escape at the rear. The development stands a little above surrounding ground level,
presumably arising from ground improvements as part of the development process. The rear fire doors are therefore served by a small number of steps. The doors and windows to the lower front elevation are double glazed. Party walls are partly formed in blockwork and partly of framed panel construction.
Based on accessible areas, we calculate the eaves height to be approximately 5.39 metres.
Externally, the unit is provided with 2 parking spaces within the forecourt. The apron approaching the shutter doors is formed in concrete.
The unit is understood to have the benefit of mains water, 3-phase electricity and drainage, together with the usual telephony and data facilities. These services are assumed to have adequate capacity for any reasonable use to which
the units could be put.
Unit 8 is let and is currently utilised as a flooring supplier which includes a retail area for customers on the right hand side of the unit. To the left hand side of the ground floor is a warehouse/storage space. The Property also includes a mezzanine which is utilised as further storage and is accessed an internal staircase in the middle of the ground floor. To the rear is another mezzanine which is utilised as staff offices and is accessed via a metal staircase.
Sale Notes
To be sold as an investment sale with the current tenant on the following lease terms.
Tenant: Kent Flooring UK Limited
Passing Rent: £25,800 per annum
Term: 5-year Lease, from 16th November 2018 (expiring 15th November 2023)
Break Options: 15th November 2021 subject to 6 months' notice period (Tenant only)
Full Repairing and Insuring Lease (FRI)
Permitted Use: Class B1 or B8
Security of Tenure Provisions: Assumed inclusion of Section 24-28 Landlord & Tenant Act (1954)
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