• Freehold Industrial Investment
• Good location on the established Holmethorpe Industrial Estate
• Close to M25 / M23 and Gatwick Airport
• Front and rear loading and parking areas
• Let to Safe I.S. Ltd until 30 November 2025
• Current rent £40,445.50 per annum exclusive
• Freehold Price of £640,000 (subject to contract)
• No Vat
The property is conveniently located off the main access road on the eastern side of Ormside Way on the established Holmethorpe Industrial Estate, approximately 1 mile north east of central Redhill. Redhill Railway Station is approximately 1 mile to the north east of the property, providing regular services into central London, Gatwick Airport and the south coast. Junctions 8 and 7 of the M25 are about 3 miles to the North West, whilst Junction 6 is only 7 miles to the east. Gatwick Airport
is also located 10 miles to the south of the property.
A modern mid-terraced light industrial / warehouse unit providing storage and office space across ground and first floors. The property is of portal frame construction and features a large loading door, 3-Phase power, double glazing and central heating.
There is a mix of open plan and individual offices on the first floor with suspended ceilings, fluorescent strip lighting and
ceiling mounted air conditioning units. The offices also benefit from separate male & female toilets, a meeting room and
kitchen. There is a loading and parking area to both the front and rear of the property.
The property provides the following approximate gross internal floor areas:
Ground Floor Warehouse and Office 1,993 sqft / 185.16 sqm
First Floor Offices 1,557 sqft / 144.65 sqm
Total 3,550 sqft / 329.81 sqm
The whole property is let on the following terms:
Tenant: Safe I.S. Limited
Term Lease Start: 01/12/2017
Term Lease Expiry: 30/11/2025
Rent pa: £40,445.50
Repair and Insurance: Full Repairing and Insuring
Tenant Break Option: 01/06/2024 (6 month notice)
Review Date: No further review
N.B: Safe I.S. Limited are to receive three 5 week rent free periods from 1 December 2022, 1 December 2023 and 1 December 2024. The seller
will make an allowance at completion for 10 weeks rent free period.
N.B 2: There is a rent deposit of £3,370.45 which will be transferred to the purchaser upon completion
N.B 3: The tenant’s repairing obligations are subject to a schedule of condition
The property has an EPC Rating of E (109).
We are instructed to seek £640,000 for the freehold, subject to contract. A
purchase at this level would reflect a net initial yield of around 6% assuming
usual purchaser’s costs.
We understand that VAT is not applicable to the sale price.
Each party is to pay their own costs