7 & 9 CROMWELL ROAD, ST. NEOTS, CAMBRIDGESHIRE PE19 2ET

Location
St Neots is Cambridgeshire’s largest and fastest growing town with a current population of over 40,000. Located in the south west corner of the county and offers excellent access to London (35-50 minutes by train), Cambridge (30 mins by car), Peterborough and other cities. The A1 by passes the town providing excellent north/south communications. The A14 (A1/M1 link) lies 8 miles to the north. The subject property is situated midway on the south side of Cromwell Road (B1046). Cromwell Road connects with Barford Road (B143) and Cambridge Road (B1428) approximately 1.3 miles from the town centre and 15 minutes’ walk from St. Neots’ rail station.

Description
The property comprises two industrial warehouse buildings totalling approx. 81,000 sqft situated on a site area of 4.1 acres.

7 Cromwell Road is used for their packaging process, offices and staff facilities. The main building is of steel portal frame construction having a minimum eaves height of 6.5 metres clad to the external elevations with profile steel sheeting. The building fronts Cromwell Road and has extensive parking. All main services are connected.

9 Cromwell Road is a recent addition to the operation. The building has undergone new and extensive refurbishment with works to include new roof, cladding, access doors and flooring. The building is of steel portal frame construction with a minimum eaves height of 6.6 metres and includes additional offices and staff facilities at ground and first floor levels. There is a loading yard to the rear of the building and the yard area between the two buildings has been resurfaced.

Tenure
The property is held freehold and leased to Coveris Flexibles Uk Ltd on a 15 year FRI lease commencing October 2017 subject to a tenant option to break in October 2027. The passing rent is £550,000 per annum exclusive.

Tenant
Coveris Flexibles UK Limited is a wholly owned subsidiary of Coveris who are the sixth largest global plastic packaging company in the world. Coveris is a leading European packaging company that manufactures flexible and sustainable solutions for some of the world’s most respected brands.

Price
Upon application.

Value Added Tax
The property is elected for VAT. However it is anticipated the sale will be treated by way of a Transfer of a Going Concern (TOGC)

Energy Performance Rating
7 Cromwell Road - B 50 - 9 Cromwell Road - B 40

Legal Costs
Each party to bear their own legal costs

Further Information & Viewings
Contact MJM Property Consultants
Mark Mannering - mark@mjmpropertyconsultants.co.uk