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For Sale: £3,000,000

Foundry Business Park, Station Approach, Hockley

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  • Area

    area
    32617Sq Ft

The Business Park has two modern office buildings, Kilnfield House and
Furzedown House (part built) with associated car parking located to the front.

There are approximately 21 industrial and business units and 3 yard areas at
the rear of the scheme.

There is a two way entrance onto the Business Park, with a one way road
around the site.

Location
Foundry Business Park is on Station Approach in Hockley, adjacent to the
train station and a short walk from the centre of Hockley village. Hockley is
centred around Spa Road where a number of national and local retailers can
be found such as Sainsburys, The Co-Operative Food and Domino's.

Hockley train station provides a frequent service to London Liverpool Street
with journey times from approximately 50 minutes.

Approximate distances from:
A127 - 4 miles south west
M25 - 18 miles west
Southend-on-Sea - 6 miles south east
London Southend Airport - 5 miles south east

Accommodation

Kilnfield House
NIA: 4,186 sq ft (389.03 sq m)

Kilnfield House is a two storey detached headquarters building
and provides good quality office accommodation with an 8 person
passenger lift, 4 zone central heating system, suspended ceiling
with recessed lighting and automatic entrance doors.
Furzedown House

Estimated GIA: 9,762 sq ft (907.25 sq m)

The construction of Furzedown House commenced in circa 2008
and has not been completed. The property has been left in 'shell
form' and partially glazed with windows to the top floor. To the
rear of the building is a substantial gated car park.

Please note, we have not been able to internally inspect
Furzedown House.

Industrial Estate
Estimated GIA industrial and business units: 14,721 sq ft
(1,368.12 sq m).

Estimated GEA of yards: 3,948 sq ft (366.81 sq m)

There are 21 industrial and business units throughout the
scheme, varying in specification. The single storey units surround
a two and three storey Foundry building and are typically of steel
frame construction with blockwork at low levels.

There is a further terrace of four light industrial units to the
southwest boundary of the site. The units have individual utilities
and typically have independent 3 phase power supplies.

To the western boundary of the site are three yard areas. We
understand that yard 6 has independent utilities and benefits from
a small (unmeasured) office and canopy.

Please note we have not been able to inspect all of the units and
we have had to rely on measurements from the VOA and
previous third party inspections.

Tenancies

Kilnfield House
Currently let to Jota Aviation Limited (registered company no. 07084872) on a full repairing and insuring lease for a term of 7 years from 10th July 2020 at a rent of £52,325 per annum exclusive. There is a tenant only break and upwards only rent review on the fifth anniversary of the term. The lease is contracted outside of the 1954 Landlord and Tenant Act and a rent deposit to the value of 3 months' rent is held by the Landlord.

We understand that the Tenant has an informal arrangement with the Landlord to use Furzedown House car park at a rent of £3,600 per annum.

Industrial Estate
The industrial units and yards are fully let. Three of the demises are held on leases, the remainder are let on informal agreements with the Landlord. A tenancy schedule and associated leases are available on request.

Services
We understand the scheme is connected to mains water, drainage, gas, and electricity. We have not tested any of the services and all interested parties should rely upon their own enquiries with the relevant utility company in connection with the availability and capacity of all of those serving the property including IT and telecommunication links.

Planning
From online enquiries with the Local Authority, we understand that the scheme has the following consents:

Kilnfield House - longstanding Class E use.

Furzedown House - under application number 07/00256/FUL the property was granted consent for two/part three storey business premises.

Industrial Estate - long standing Class E, B2 and B8 use. Units 8a and 9a benefit from consent for private tuition.

Business Rates
Business rate assessments are contained within the Tenancy Schedule in the Information Pack.

EPC
A full copy of the EPC assessments and Recommendation Reports are available upon request.

Local Authority
Rochford District Council
Council Offices
South Street
Rochford
Essex, SS4 1BW

Information Pack
An information pack to include the Leases, Tenancy Schedule, EPCs and Title documents is available upon request.

Title
Freehold subject to the existing Tenancies and Leases.
Foundry Business Park - EX748712
Kilnfield House - EX927458

Please note the Title for Foundry Business Park is being split and the land included in the sale is shown outlined red on the front page of these marketing particulars.

VAT
We understand that the property is elected to VAT, which will be payable on the purchase price. The sale may qualify as a Transfer of Going Concern, interested parties should make their own enquiries.

Terms
The property is for sale by private treaty, and offers are invited in the region of £3 million.

Legal costs
Each party to bear their own legal costs. The buyer will be required to pay a non-refundable deposit when purchase terms are agreed.

Features

  • Reversionary Unbroken Business Park
  • Substantial Asset Management and Development Opportunity
  • 32,617 Sq. Ft.
  • Site Area of Approximately 1.58 Acres
  • Currently Generating £148,641.48 Per Annum
  • Headquarters Office Building let to Jota Aviation
  • Part Built Office Building Suitable for a Variety of Uses (S.T.P.P.)
  • Adjacent to Hockley Train Station

Map

Call

John Logan

01245 261226
Make an enquiry

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