Mill Hall Business Estate, Mill Hall, Aylesford

The premises comprise 2 steel framed warehouses with profiled sheet cladding with generous yard and a secure compound. Unit 12 has brickwork to ground floor, a full height roller shutter with offices, kitchen and WC’s at ground floor, 3 phase power supply, roof lights and an eaves height of 6.2m rising to 7.6m. Unit 12A is used purely for storage having 2 roller shutters, electricity and an eaves height of 4.8m rising to 6.6m.
The property has an extensive secure yard and parking area of 0.314 acre (0.127 ha).

Location
The premises are located on the established Mill Hall Business Estate just off Station Road to the west of Aylesford Village and approximately 1 mile from Junction 5 M20 motorway to the north west of Maidstone, the County Town of Kent. Aylesford railway station is within easy walking distance providing commuter services to the numerous towns and villages on the Strood to Paddock Wood line

Tenancy
The entire property is let on a single full repairing and insuring lease to Surrey Scaffold Limited (07050369) for 10 years from 10th December 2018 at a rent of £45,000 per annum exclusive subject to an upward only rent review at the end of the 5th year.
The tenant has an option to break on 10th December 2023 subject to giving 6 months prior written notice and conditional upon paying all sums due under the lease, giving vacant possession and compliance with repairing obligations. A schedule of condition is attached to the lease.

Estate Maintenance
Historically the vendor developed and owned the entire Mill Hall Business Estate. Upon sale of the majority the vendor retained Units 12 & 12a for occupational purposes and as part of that sale agreed there would be no obligation to contribute to typical estate / management costs. There is therefore no service charge payable.

Planning & Building Regulations
It is the responsibility of the purchaser to satisfy themselves that the intended use of the property complies with the relevant planning permission and building regulations in force at the time of the purchase.
We understand the hours of use for the buildings should be limited to 07.00 to 19.00 hours Mondays to Fridays and 07.00 to 13.00 on Saturdays. No working on Sundays or Bank Holidays.

Proposal
We have been instructed to seek offfers in excess of £710,000 subject to contract for our client’s freehold interest. A purchase at this level would reflect a net initial yield of 6.02% after deduction of standard purchasing costs of 5.32%

The property is elected for VAT and therefore VAT will be payable on the purchase price. It is anticipated that the sale will be dealt with as a Transfer of a Going Concern (TOGC)

Available Area