Units 1 to 37 are let on 28 day licences and the following costs are associated with the units:
Deposit
A deposit of one months licence fee is required for a unit at Sir Frank Whittle Business Centre. There is no VAT charged on deposits.
Inclusive Licence Fee
Units 1 to 37 are charged on monthly inclusive licence fees.
The annual inclusive licence fee is £139.95 per square metre (£13.00 per square foot) plus VAT, invoiced at the start of every month.
The licence fee is reviewed by Warwickshire County Council every January and takes effect as of April the 1st.
Additional Services
All additional services provided by the centre will be invoiced monthly in arrears together with the licence fee.
National Non Domestic Rates
National Non Domestic Rates are payable directly to Rugby Borough Council.
Small Business Rate relief may be available on the unit, please contact Rugby Borough Council directly for further information.
Additional costs
Unit holders are responsible for all utilities within the unit, these include electricity, gas (if the unit has a supply) and telecoms.
Public Liability Insurance
All unit holders are required to take out public liability insurance cover, no less than £5,000 000. A copy of the policy must be provided prior to moving in and then annually. |
Units 38 - 42 are leasehold and the following costs will are associated with these units:
Deposit
A deposit of three months rent is required for a leasehold unit at Sir Frank Whittle Business Centre. There is no VAT charged on deposits
Legal Fees
Legal fees will be charged to draw up the lease, these are kept to a minimum. The lease will not be completed until the legal fees have been paid.
Rent
All the business units are charged on a monthly rent, which is agreed at the start of the 3 year lease.
The rent is £69.97 per square metre (£6.50 per square foot) plus VAT.
The rent is payable by standing order on the 1st of the month. A copy of the standing order is to be provided prior to moving in.
Service charge
Service charge is invoiced on a quarterly basis. This covers a management fee, building insurance, security, grounds maintenance, site cleaning and waste disposal.
Additional services
All additional services used at Sir Frank Whittle Business Centre will be invoiced quarterly in arrears.
National Non Domestic Rates
National Non Domestic Rates are payable directly to Rugby Borough Council.
Small Buiness Rate relief may be available on the unit, please contact Rugby Borough Council directly for further information.
Additional costs
Unit holders are responsible for all utilities within the unit, these include electricty, gas (if the unit has a supply), water and telecoms.
Public Liability Insurance
All unit holders are required to have public liabilty insurance of no less then £5,000 000. A copy of the policy must be provided prior to moving in and then annually.
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