The Foundry, Estate Road, Newhaven BN9 0AL

£175,000
Sold Subject to Contract

Size 2,122 sq. ft

Size 197 sq. m

Area Newhaven

If you prefer to speak to someone:

Call us on: 01323 700100 or 01424 404004

Call us on: 01323 700100 or 01424 404004

Overview

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.

Area

Sq ft

Sq m

Ground

1,732

160.9

First

390

36.2

Location

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.

Amenities

Mains Gas

3 Phase Electricity

Kitchen

W.C x 2

Security Roller Shutter

Loading Doors x 2

Mezzaine Floor

Gas Fired Blow Heater

Double Glazed Windows

Business Rates

Premises are described as Workshop and Premises with a rateable value of £7,800.

Small Business Rates Relief entitles qualifying occupiers 100% rates relief

VAT Details

VAT will not be charged on the terms quoted.

Terms

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%

Get in touch

Speak to our commercial property team

Eastbourne: 01323 700100 • Hastings: 01424 404004 • Hove: 01273 634000

Eastbourne: 01323 700100
Hastings: 01424 404004
Hove: 01273 634000