Lodge Way - Lodge Farm Industrial Estate - Nd House, Northampton, NTH

The property comprises a detached, two-storey office premises.
The premises are situated on the well established Lodge Farm Industrial estate, which is located approx 3 miles to the north west of Northampton town centre.

The estate already provides good access to junctions 15a and 16 of the M1 motorway (approx 5 and 4 miles respectively), which will be even further enhanced on completion of the Sandy Lane Relief Road linking the A428 to the A4500 directly.

Access to J18 of the M1 (approx 15 miles) and in turn the M1/M6 and A14 interchange is available at Crick directly via the A428 (approx. 14 miles).

Sale Notes:
The available space comprises recently refurbished offices, being a headquarters facility for Norbert Dentressangle Logistics Ltd. The offices are fully fitted providing cat II lighting, air conditioning, double glazing and canteen facility. A separate training centre is located to the north west of the site and comprises a single storey building to a more basic specification than the main offices. Externally there is a large car park to the front of the property as well as smaller parking areas to either side. Total number of car parking spaces in the order of 146, providing an allocation of 1:183 sq ft.
Price: £1.75 million subject to contract and exclusive of VAT, equating to a net initial yield of 8.8% and a reversionary yield of 9.45% after 5.8% purchase costs.
Tenancy:
Lease from 1st January 2009 to 15th May 2021 without break (9+ years unexpired) to Norbert Dentressangle Logistics Ltd with a guarantee from Norbert Dentressangle Logistics SAS, at a passing rent of £163,000 pa excl. (£6.09 psf).
The lease is drawn on FRI terms (subject to a schedule of condition) and subject to an upward only rent review 16th May 2016.
The tenant has an option to renew the lease at expiry upon giving at least 12 months prior notice, for a term of 9 years, subject to tenant’s options to break on the third and sixth anniversaries, each on 12 months’ notice. EPC- Office Building E and Training Building E.