icons_size_white icons_size
menu

Agent's details

Freehold Industrial Investment

For sale: £640,000.00|3,550 Sq Ft|Industrial, Warehouse, Offices, Light industrial, Office

Property details

FOR SALE£640,000.00
SIZE3,550 Sq Ft
ADDRESS31 Ormside Way, Holmethorpe Industrial Estate, Redhill, RH1 2LW
TYPEIndustrial, Warehouse, Offices, Light industrial, Office
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON4th September 2021

Description

INVESTMENT SUMMARY
• 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

LOCATION
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.

DESCRIPTION
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.

ACCOMMODATION
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

TENANCY
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

EPC
The property has an EPC Rating of E (109).

SALE PRICE
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.

TENURE
Freehold.

VAT
We understand that VAT is not applicable to the sale price.

LEGAL COSTS
Each party is to pay their own costs

Location

marker
Location: 31 Ormside Way, Holmethorpe Industrial Estate, Redhill, RH1 2LW

Merstham (0.9 miles)

Redhill (0.9 miles)

Earlswood (Surrey) (1.9 miles)

close
What do you think of our website?
Complete our survey and
you could win £1000
Start here