• RICS
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      • 18 Lister Road, Highfield Industrial Estate, Eastbourne, East Sussex, BN23 6PU | For Sale

        £800,000.00 
        Click image to enlarge
        Details

        Description

        The premises comprise a self-contained, end terrace industrial warehouse unit of steel portal frame construction with brick and block and part steel clad elevations and a corrugated asbestos sheet roof covering. Externally, there is allocated car parking and ample loading bay provisions. Internally, the accommodation provides ground floor factory area with ground floor offices, kitchen, male and female WCs. At first floor level, there are two further offices with windows overlooking the car park providing good natural light. There is also a mezzanine running the length of the building providing additional workspace and stores.

        Location

        The premises are situated on the established Highfield Industrial Estate on the outskirts of Eastbourne close to the A22/A27 bypass and Hampden Park mainline railway station. The estate is on the corner of Willingdon Drive & Lottbridge Drove and has excellent access to the A22 and A27, which provides access across the county and beyond. Eastbourne is approximately 21 miles east of Brighton and 18 miles west of Hastings. Other occupiers include Gardner Books, Rexel Senate and PTS LTD.


        Guide Price

        £800,000 for the effective Freehold (999 year lease from 25/05/1988) reflecting a yield of 7.6%.


        Tenancy

        The premises are let on a full repairing and insuring lease from 31/05/2018 for a term of 15 years expiring 30/05/2033 with 5 yearly upward only rent reviews and a tenant only break option in May 2028 paying a rent of £61,295 (£6.50) per annum exclusive. The tenant is ‘The Picross Engineering Company Limited’ Company Reg No. 01380671 who have been established in Eastbourne for 40 years specialising in precision
        engineering.


        VAT

        VAT is NOT applicable to the sale


        Legal Costs

        Each party is to be responsible for their own legal fees.

        Accommodation

        The premises offer ground floor factory/warehouse with ground floor welfare facilities, offices and enclosed staircase leading to the first floor offices. The offices are positioned at the front of the unit with excellent natural light, westerly facing towards the South Downs.

        Area Sq m Sq ft
        Ground floor 831 8,949
        First floor office 45 481
        Mezzanine workshop 96 1,036
        Total 972 10,466

        Summary

        • 15 year FRI Lease
        • Company trading for 40 years
        • Operating 3 shifts 24/7
        • Rent only £6.50 per sq ft – Potential rental growth
        • Located on a principal industrial estate
        • Adjacent A22/A27 dual carriageway
        • 5 minute walk to mainline train station
        • NO VAT
        • YIELD 7.6%

        Viewing

        For further information, email details or to arrange an inspection please contact the agents:

        Simon Hunt Mike Tingley
        T: 01323 700 100 T: 01323 700 100
        M: 07809 267 729 M: 07799 884 282
        E: simon@huntcommercial.co.uk E: mike@huntcommercial.co.uk

        Subject to contract sh/hc/07/18

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