Excellent Warehousing, Industrial Yard Space & Offices with Car parking Sale & Leaseback Opportunity with 5% min returns Description The site is owned and occupied by Instalcom Limited who are a utility contractor that undertakes the excavation and installation of underground services for the provision of Fibre Optic Cables, Electric Power Cable and Water Mains. Borehamwood Industrial Park comprises two large warehouse buildings (Unit 1 and Unit 2) and attached office building to Unit 1 which was rebuilt in 2013. The site is securely contained within 5 acres with level surfaced yard. The site is located within a designated employment area and so the immediate vicinity of the site is characterised by industrial and commercial uses. There are a residential dwellings neighbouring the site, any impact of the site on these is mitigated by the acoustic fencing at the rear and the established vegetation on the boundaries. The operating hours approved with lawful consent for the site allow operations from 6am – 10pm. The warehouses are of steel portal frame construction with low level brick and high profiled metal cladding under a pitched roof incorporating roof lights. The warehouses all benefit from roller shutter doors and Unit 2 in addition has a loading canopy. Both warehouses have an eaves height of 5.6m. Unit 2 has been regularly sub-let within approx. 1.5-acre of self-contained yard since the owners redeveloped the site and would be happy to split the site should the inbound purchaser wish to use the site alongside any sale & leaseback arrangement. Tenure The property will be sold freehold with vacant possession or preferably with a sale and lease back option for the existing owners with a minimum 3-year commitment. Rating The property lies within the administrative authority of Hertsmere Borough Council (the Rating Authority) and is shown in the Valuation List as having a Rateable Value of £400,000 for Unit 1 and £232,000 for Unit 2. VAT We understand the property is not elected for VAT. Services We are advised that mains electricity, gas, water and drainage services are available at the property. However prospective purchasers are advised to make their own independent enquiries of the individual authorities to verify the capacity and availability of such services. Planning At present, no recent planning applications have been submitted for the development of the site. The planning granted in 2013 for the erection of the new offices has been implemented under reference number 13/2081/FUL Any planning related queries should be directed to the Local Planning Authority: Hertsmere Borough Council                           Telephone:      0208 207 2277 Civic Offices Borehamwood                           Web:               Elstree Way Borehamwood Hertfordshire WD6 1WA Method of Sale The site is offered for sale by way of informal, non-binding tender with the vendor reserving the right not to accept the highest or any offer and also reserving the right to withdraw the site from sale or to vary the method of sale at any time without notice. In the event that a number of competitive offers are received, the vendor reserves the right to request “best and final” offers from selected parties. Offers are sought for the freehold interest, preferably on an unconditional (Subject to Contract only) basis. Conditional offers may be considered but this is not preferable to the vendor other than with a sale & leaseback arrangement. Unconditional Offers If an unconditional offer is accepted, completion is to take place within four weeks of exchange of contracts with 10% payable on exchange and the full balance of the purchase price payable immediately upon the completion of the sale. All offers should state whether they are submitted with or without Board approval and whether they are dependent on bank or similar finance being available with confirmation or proof of funding. All offers should be marked “Borehamwood Industrial Estate – Offer to Purchase” and addressed to: Mr James Dalziel                                                                     Silverstream Land Corporation Limited Semmering Foxley Lane Binfield Berkshire RG42 4DB Viewings All enquiries should be directed to the vendors sole agent: Silverstream Land Corporation Semmering Foxley Lane Binfield Berkshire RG42 4DB Telephone:      01344 442810 Mobile:           07771 524782 Or email:         Viewings are strictly by appointment only. Please note that parties must not enter the property without our prior authority and any inspection of the site is at the prospective purchaser’s risk. Misrepresentation Act 1967 – Silverstream Land Corporation give notice that: These particulars do not constitute any part of an offer or contract. None of the statements contained in these particulars are to be relied on as statements or representations of fact, intending parties must satisfy themselves as to the correctness of each of these statements. Silverstream or their clients have no authority to make or give any representation or warranty in relation to the property. Finance Act 1989 – Unless otherwise stated, all prices are quoted exclusive of VAT. Consumer Protection from Unfair Trading Regulations 2008 – These details are believed to be correct as at November 2020 but maybe subject to subsequent amendment. Any plans or drawings are indicative and for guidance only.