Loft Self Storage, Portland Road, Hucknall, NG15 7SF

LOCATION:
The Subject Properties are located on Portland Road in central Hucknall which forms the main arterial route through Hucknall from the south. Hucknall is situated approximately eight miles north of Nottingham city centre approximately five miles from J26 of the M1 motorway.

Hucknall has a population of approximately 36,000 people and has an excellent wider catchment area being in close proximity to Bulwell to the south and Kirkby in Ashfield to the north.

The location benefits from many amenities in the immediate locality by virtue of Hucknall town centre and the Ashgate Retail Park which is home to Tesco Extra, McDonalds, Home Bargains and Argos. In addition, Aldi and Iceland are situated 50m's away on Portland Road.

DESCRIPTION:
The Subject Properties are situated in a highly prominent position on Portland Road in Hucknall town centre. The buildings are arranged within a substantial 2.26 acre site with the frontage extending to c100m.

The entire site has been let to Loft Self Storage who are utilising the internal and external areas to offer a range of a self-storage options to both consumers and business customers.

The site now has a gated single point of access which is secure and monitored by CCTV.

Building 1
Comprises a former car showroom which has been fitted out by the Tenant and could provide up to c.94 internal purpose built and designed storage rooms providing self contained storage units from circa 16 sq ft sq ft to 150 sq ft.

Buildings 2 and 3
Form two interlinked steel portal framed industrial units with offices and a mezzanine within. Both units have pedestrian and roller shutter access. The buildings have been fitted out and spaced planned to provide a further 75 self storage units ranging from 16 sq ft to 100 sq ft over both the ground floor and mezzanine level.

Building 4
Forms the former petrol filling station kiosk.

Externally, the hardstanding areas are utilised for customer parking and loading combined with vehicle storage with potential for storage containers.

A site layout plan and floorplans are available upon request.

ACCOMMODATION: (NIA)
Unit 1 - 1,046 sq m (11,259 sq ft)
Unit 2 - 179 sq m (1,927 sq ft)
Mezzanine - 108 sq m (1,163 sq ft)
Unit 3 - 414 sq m (4,456 sq ft)
Unit 4 - 86 sq m (926 sq ft)
TOTAL - 1,833 sq m (19,731 sq ft)

The total site area is 2.26 acres (0.92HA).

TENANCY SCHEDULE:
The Subject Properties are let on a single lease on the following terms:-
Tenant - Shredall (East Midlands) Limited t/a Loft Self Storage.
Lease Term - 10 years and three months from 21st July 2023.
Repairs & Insurance - Full Repairing and Insuring lease, subject to a Schedule of Condition.
Rent Passing - £150,000 per annum.
Break Clause - Tenant Only Break Option at the 7th Anniversary, subject to six months written notice.
Rent Review - Upwards only Rent Review at the 5th anniversary.
Option to Purchase - The Tenant has an Option to Purchase which is exercisable between 31st October 2027 and 31st July 2028. Full details are available upon request.

COVENANT INFORMATION:
The Subject Properties are occupied by Shredall (East Midlands) Limited trading as Loft Self Storage.

Shredall are a family business who have been trading since 1997 and their original core business has centred around document storage, shredding and scanning before opening their first Loft Self Storage at their HQ in Bestwood. They are now expanding within the self-storage sector with Hucknall being their second and biggest location to date.

Shredall (East Midlands) Limited have an Experian Credit Rating of 88 - Low Risk.

TENURE:
Freehold under title numbers NT186526, NT200905, NT204189, NT328151 and NT477993 together with the Green Land identified on the title plan edged green.

PLANNING
The Subject Properties were granted a change of use from Car Showroom, Car Sales & Repair Garage to Self-Storage (Class B8) including siting of portable storage containers and storage units on open areas of the site.

The decision was granted by Ashfield District Council in June 2023 under planning reference is V/2022/0615.

VAT
We understand the property is elected for VAT, as such, it is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

EPC:
Building 1 - C-67 - Expiry 23 August 2030
Buildings 2 & 3 - D-84 - Expiry 23 August 2030
Building 4 - D-76 - Expiry 23 August 2030

ANTI MONEY LAUNDERING
In accordance with Anti-Money Laundering Regulations,
two forms of identification and confirmation of the source
of funding will be required from the successful purchaser.

DATA ROOM
A legal pack is being prepared and full access to a data room will be provided upon request.

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