Size 2,122 sq. ft
Size 197 sq. m
The detached premises comprise a main high eaves industrial unit with a single storey extension to the front. The main unit is of steel frame construction with brick block elevation and steel cladding. The front extension is if brick block rendered construction with a mono pitch roof. Amenities include mains gas, 3 phase electricity. Kitchen, W.C x 2, office area, security roller shutters and mezzanine to rear high eaves warehouse.
The Foundry, Estate Road, Newhaven BN9 0AL
The property is located on Estate Road, Newhaven opposite the harbour train station and directly behind the Lidl and Ranger retail units yards from the A259 and A26 major link roads. The commercial Port of Newhaven is 300 yards from the site.
Premises are described as Workshop and Premises with a rateable value of £7,800.
Small Business Rates Relief entitles qualifying occupiers 100% rates relief
Each party is to be responsible for their own legal fees.
The premise are currently let to Elite Industries Limited on a full repairing and insuring lease dated the 12/2/2017 expiring 23/12/2022 paying a rent of £7,200 per annum exclusive. A Rent review dated December 2020 was not actioned and we consider the property has a rental value in the region of £14,500 per annum. At the time of marketing no notices concerning lease renewal have been served on either side.
£175,000 per annum showing a yield of 3.9% and a reversionary yield of 7.9% net of purchasers costs at 5%
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