12 Edward Park, Grange Way, Colchester, CO2 8FZ

Location

REDUCED FIRST & SECOND YEARS RENT AVAILABLE - subject to lease terms and covenant strength.

The property is of steel portal frame construction with part brick and part profile steel clad elevations, set beneath a pitched, insulated roof incorporating translucent roof lights. It offers an approximate eaves height of approx. 4.8m and an apex height of approx. 6.3m.

Access is provided via a personnel door leading into an entrance hall, which connects to office and trade counter areas, along with kitchen and WC facilities. A staircase leads to the first-floor offices, which are fitted with fluorescent lighting, gas central heating, and air conditioning (both not tested), as well as electrical sockets and carpet / vinyl flooring.

An electric loading door (approx. 3m wide by 4m high) provides separate entry to the warehouse area. The warehouse area benefits from three phase power, fire alarm and fire exit, emergency lighting, and high bay lighting.

Externally, the property benefits from a gated and fenced yard, offering generous space for loading/unloading, and on-site parking.

ACCOMMODATION
[Approximate Gross Internal Floor Areas]

Ground Floor: 2,395 sq ft [222.5 sq m] approx.
First Floor: 1,167 sq ft [108.4 sq m] approx.
Mezzanine: 79 sq ft [7.3 sq m] approx.
Total: 3,641 sq ft [338.3 sq m] approx.

TERMS
The premises are available to let on a new full repairing and insuring lease, lease length and terms to be agreed, at a rent of £45,500 per annum (plus VAT).

An initial introductory offer may be considered for years 1 and 2, subject to lease terms and tenant covenant, consisting of:

Year 1: £38,250 per annum (plus VAT)
Year 2: £41,900 per annum (plus VAT)

SERVICE CHARGE
A service charge is applicable to cover; maintenance of the estate communal areas, landscaping, lighting and car parking areas. The approx. cost for the current year is £1,405 plus VAT.

BUSINESS RATES
We have been informed that, effective 1st April 2023, the rateable value is £23,750. We therefore estimate rates payable are likely to be in the region of £11,850 per annum.
Interested parties are advised to make their own enquiries with the local rating authority to confirm their liabilities.

BUILDINGS INSURANCE
The buildings insurance is to be arranged by the landlord with the cost to be recovered from the tenant. The approx. cost for the current year is £TBC plus VAT.

ENERGY PERFORMANCE CERTIFICATE [EPC]
We have been advised that the premises fall within class C (60) of the energy performance assessment scale. A full copy of the EPC assessment is available upon request.

VAT
We are advised that VAT will be applicable. All rents and prices are exclusive of VAT under the Finance Act 1989.

LEGAL COSTS
Prior to the instruction of solicitors, the tenant will be required to pay a non-refundable administration fee of £750.00 plus VAT. Each party will otherwise bear their own legal costs involved with this transaction.

VIEWINGS STRICTLY BY APPOINTMENT
VIA SOLE LETTING AGENTS:

Fenn Wright
Contact:
T: 01206 854545
E: colchestercommercial@fennwright.co.uk

Summary

Key points

• REDUCED RENT IN YEARS 1 & 2 (subject to lease terms)
• Detached Self-Contained Light Industrial / Business Unit
• Fenced & Gated Yard
• Offices, Meeting Rooms & Stores
• Established Business Location
• Contact

Fenn Wright
Tel: 01206 854545
Edward Nolan
ejn@fennwright.co.uk