Shaw Wood Business Park, Shaw Wood Way, Doncaster, South Yorkshire, DN2 5TB
Guide Price* : £940,000
For Sale by Online Auction if Not Sold Prior
- Multi-let Office Estate
- Situated within an established office/industrial location
- Significant asset management opportunities
- Total net internal area of approximately 1,245.55 sq m (13,407 sq ft)
- Current net income of £99,336 per annum
- Potential reversionary income of £115,000 per annum
- Guide Price of £940,000 reflects NIY of 10% and NRY of 11.58%
- Low capital value of £70.11 per sq ft
The property comprises a modern business park. It is arranged across 11 single-storey office units and extends to approximately 1,245.55 sq m (13,407 sq ft) on a plot of 1.46 acres.
The property benefits from an extremely good car parking provision with 74 spaces, equating to a car parking ratio of 1:181 sq ft.
The salient details of the specification are as follows:
• Steel frame
• LED / CAT II lighting
• 2.7m floor to ceiling heights
• Perimeter trunking
Within the entrance, the majority of the units present as office/sales space with further office accommodation to the rear. There is access to the overflow parking/loading area to the rear of the units. The property is accessed from Shaw Wood Way which borders the site to the north and east.
Doncaster is a large market town in South Yorkshire. Together with its surrounding suburbs and settlements, the town forms part the Metropolitan Borough of Doncaster with a population of 308,900 as at mid-2017 (ONS). Doncaster is situated on the A1(M) and M18 motorways approximately 21 miles north east of Sheffield and 32 miles south east of Leeds. The town is within 20 minutes of the key M1 and M62 motorways. Doncaster Railway Station is located on the East Coast Main Line with journey times to London Kings Cross of 1 hour 45 minutes.
The property is located in Long Sandall, an established industrial and office location north east of Doncaster. It is within close proximity to Wheatley Centre Shopping Park, Doncaster’s largest out of town retail location, and Kirk Sandall Industrial Estate; the principal location for industrial property in the area. The park benefits from a strong level of amenity, with retailers including Lidl, KFC and the Sandal Park café within a short walking distance.
The property benefits from excellent road communications with the A18 providing a direct
route into the centre of Doncaster or to the M18 or A1(M) motorways.
The property is let by way of 10 separate leases. Each lease is drafted on an effectively full repairing and insuring basis and as summarised in the tenancy schedule (link on the right hand side of this page).
The current net income is £99,336 per annum with a potential income of £115,000 per annum following a letting of the vacant unit. The recent letting of Unit 1D (4) at £10 per sq ft also provides some evidence of rental growth and therefore reversionary income may increase further.
The current WAULT to expiry is 3.00 years (1.74 to break).
Please see the tenancy schedule and legal pack for more information.
We understand the property is elected for VAT. It is anticipated that the sale can be dealt with as a transfer of a going concern
The total Rateable Value for the property is £85,600
The Rateable Value of the vacant unit is £6,000
Our Property Finance Team have sourced the below terms for the property:
• LTV – 70.00% of VP Value
• Term – 5 years
• Repayment profile – interest only
The same lender is also willing to offer Bridging Finance if required.
For more details please contact:
07525 630 213
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Administration Fee The successful purchaser will be required to pay the auctioneers administration fee of £1,200 inclusive of VAT on purchases of £20,000 and above and £360 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.
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The successful purchaser will be required to pay the auctioneers administration fee of £1,200 inclusive of VAT on purchases of £20,000 and above and £360 inclusive of VAT for purchases below £20,000. Other additional costs/fees may apply - Click here.
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Subject to Contract and Exclusive of VAT © Lambert Smith Hampton July 2021
Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries, including 574, and their joint agents if any ("LSH") for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters.
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