Wish Tower House, 1c Edward Road, Eastbourne, BN23 8AS - Medical Treatment Centre – Investment For Sale - 6,630 sq ft with 22 Car Spaces

£1,575,000
For Sale

Size 6,630 sq. ft

Size 615 sq. m

Area Eastbourne

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 property was constructed in 2006 and originally comprised a two-storey office building within Highfield Office Park, a modern business park on the outskirts of Eastbourne. The property has been let to and converted to a medical treatment centre specialising in wound healing working alongside the NHS.

The premises are of steel portal frame construction with external elevations of part cavity brick wall, steel cladding and powder coat double glazed windows. The accommodation offers approximately 6,630 sq ft over two floors with stairs and passenger lift. The amenities include air-conditioning, CAT II lighting, suspended ceiling, a passenger lift, Kitchen and WCs on ground and first floors.

Externally there are 22 off street allocated car parking spaces available.

Area

Sq ft

Sq m

Ground Floor

3,165

294

First Floor

3,165

294

Total

6,337

588

Location

1c Edward Road, Eastbourne, BN23 8AS

The Property is located within the town of Eastbourne on the South Coast of England.

Eastbourne has a residential population of approximately 98,000 (Eastbourne Borough Council website) and is located at the junction of the A22, A27 and A259.

The town is approximately 75 miles south of Central London, 24 miles east of Brighton and 18 miles west of Hastings.

There are direct trains to London Victoria, Gatwick and Ashford International (Eurostar) with Hampden Park mainline train station within a 10 minute walk.

Amenities

Established Tenant

22 Parking Spaces

Excellent Prominent Location

Strong Public Transport Links

Over 5 Years Unexpired Term

Rent Review Outstanding

Flexible Floor Plates Design

Rent

The property is currently let to a CIC known as Pioneer Wound Healing & Lymphoedema Centres Company reg 07715222 on FRI lease from June 2014 with 5 year upward only rent review and tenant break option. The tenant has not activated the break option and so the lease is due for renewal in June 2029. Company turnover to December 2022 was £4.2 million with a profit of £500,000.

The tenant pays a passing rent of £110,000 (£16.60 psf) and the June 2024 rent review has not been actioned. There is evidence to support a possible rent increase to £116,000 (£17.50)

Business Rates

According to the Valuation Office website the premises have the following description:

Office and Premises:

Rateable Value: £86,000

VAT Details

VAT will be charged on the terms quoted.

Terms

Guide Price - Offers are sought in the regions of £1.575 million representing a gross yield of 7%.

VAT will be chargeable on the terms quoted.

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