£648,500 For Sale

Units 7 And 8 Hattersley Court, Ormskirk, L39


Key Features

  • Investment disposal - sale and leaseback.
  • Existing business unaffected by the sale.
  • 10-year Full Repairing and Insuring Lease from completion, with five-year rent review and tenant only option to break.
  • Rental: £54,000 per annum exclusive of all other outgoings.
  • Two modern and interconnecting offices with parking extending to approximately 3,990 square feet NIA.
  • Established proposed tenant incorporated 14th April 2014.
  • Ormskirk Town Centre location.
  • Transfer of a going concern (TOGC).

Fully Let Office Investment - Sale & Leaseback. Existing business unaffected by the sale. Units 7 and 8 Hattersley Court consists of two-storey modern offices with parking, which are interconnected at both ground and first floor. Units 7 and 8 are fitted out to a high specification and each provides six dedicated car parking spaces, with the additional benefit of their own front door and WC facilities. Typical specification of the offices includes raised floors, suspended ceilings, gas central heating, recessed lighting and allocated car parking. Sale and Leaseback: The property is offered for sale as a sale and leaseback opportunity whereby on sale completion the current occupiers, Distant Journeys Ltd, established in 2014 and Company No: 08994196 will take a new 10-year lease to incorporating a five-year upwards only rent review, and a five-year tenant only option to break. The lease would be drawn on Full Repairing and Insuring terms, subject to a photographic Schedule of Condition, which will be annexed to the completed lease, at a rental of £54,000 per annum exclusive of all other outgoings payable monthly in advance. The tenants would also be responsible for the payment of business rates, utilities and the estates charge which is levied for the communal landscaping and maintenance of the common parts. The landlord would insure the building and pass the premium to the tenant in an open book manner, the tenant would be responsible for the insurance of their own activities and goods. The property will be provided with prerequisite Gas and Electrical safety certificates, details pertaining to fire alarms and safety, etc. Post lease completion, the tenant will be responsible for keeping these services maintained and up to-date. A copy of the draft lease is available on request, the five-year rent review clause therein is to be to the greater of market rent, capped at no more than 7.5% increase. The lease will also incorporate a five-year tenant only option to break. If the tenant does not exercise their option to break at the end of the year (year 5), then the following year (year 6) will be at 75% of the annual rent. About Distant Journeys LTD: Distant Journeys provides expertly planned, excellent value, long-haul escorted tours to thousands of UK travellers. Founded in 2014 by highly experienced travel professionals, the business initially focused on Australia and New Zealand, rapidly achieving a dominant position within this market. The company has since successfully launched numerous new destinations including India, South Africa and Japan. Turnover in FY23/24 will be in excess of £34 million with £3.8 million forecast EBITDA, increasing to £44M+ and £4.5M respectively in FY24/25.
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