8, 14 &14A Pillings Road Investment, Oakham LE15 6QF

Size - 3,768 to 8,577 sq ft
Price - Guide price £700,000
VAT - VAT will be applicable on the purchase price
Lease Position - Let to a single tenant on a 10 year FRI lease from May 2020. Mid term review has revised the rent to £54,000 per annum for the remainder of the lease
Rateable Value - £40,000 from April 2026 Please enquire from Rutland County Council for rates payable
EPC Rating - No.8 115 (Band E) No’s 14/14A 143 (Band F)

The property comprises of 3 originally separate factory units, within a secure yard. The accommodation is to a high specification, being used in the food processing industry.

Location
Oakham is the county town of Rutland with a growing population of approximately 13,000 (up from 12,150 in the 2021 Census). It is within convenient travelling distance of Leicester, Grantham, Nottingham and Peterborough and situated approximately 9 miles due west of the A1 trunk road.

Accommodation
The accommodation comprises the following GIA

Unit - 8 - 4,809 Sq Ft 446.77 Sq m
Unit - 14 & 14a - 3,768 Sq Ft 350.06 Sq m
Total - 8,577 Sq Ft 796.83 Sq m

Planning
We are advised that the current planning use for the properties is B1 industrial (now Class E)

Tenure
For sale on a virtual freehold for 999 years from 1983 with buildings let on 2 separate leases to the same tenant (No.8 and No’s 14 & 14A), identical and running contemporaneously. Both leases are from 12/5/2020, expiring on the 12/5/2030. Both leases are held on an FRI basis, subject to a Schedule of Condition.

Services
We understand that mains electricity, water and drainage are connected to the premises. No services or appliances have been tested by the Agents

Viewings
Strictly by appointment through Reid Commercial Property or P&F Commercial on 01664 431330 or by email office@pandfcommercial.com