Location The property is located in predominantly rural area just to the south of the town of Horam in East Sussex.
Description The site is very basic secure storage yard. It is mostly surfaced with concrete and generally bounded by high security fencing. It is home to two basic brick built buildings – one used as a site office and one as a store.
It is occupied by Avanti Gas Limited (formerly Shell Gas Limited) – Company Number: 00481121 – who own the freehold of the adjacent site – the subject property is the only route through to the Avanti Freehold.
The adjacent land, owned by Avanti Gas, has a large gas (LPG) storage installation. Avanti Gas lease the subject property to support and facilitate this storage installation and to enable their distribution logistics to access and manoeuvre delivery tankers as well as to provide a small amount of clerical space. In general terms the site is remotely operated.
Planning Policy The site is unallocated in the Wealden “Local Plan”, however, it is largely surrounded by land within a local SHELAA. It is considered that this allocation reinforces the reversionary position of this investment proposal. The Wealden Online planning “interactive” map can be found at https://maps.wealden.gov.uk/WebMap/
Tenure The property is held Freehold under Title ESX73869 – this Title Plan is provided with these particulars. The freehold title is subject to extensive rights of access in favour of the adjacent title held and owned by Avanti Gas. The extent of these access rights are shown on the attached plan – edged green.
The Freehold property is also subject to a right of access in favour of owners/occupiers of the residential property fronting Chiddingly Road. This is shown blue on the Title Plan.
Tenancy The property is subject to a 10 year FRI lease to Avanti Gas Limited from 30th May 2022. The rent payable under the lease is £20,000 per annum. Rent reviews are three yearly based on RPI. The lease is made without Landlord and Tenant “security of tenure”. A copy of the lease is available by request, or it can be downloaded from our Website.
The Tenant Avanti Gas are a subsidiary company of UGI Corporation (USA). Their turnover to end September 2021 was £179.8m resulting in a gross profit of £61.7m and a pre-tax profit of £28.7m. The company has Net Assets totalling £79.9m to the same year end position.
Services The site is serviced with mains water, drainage and electricity.
EPC Available on request.
Rates The property has a combined rating assessment the neighbouring land. Under the terms of the lease. Rates are the tenant’s responsibility.
VAT It is understood that the property is NOT registered for VAT.
Price Offers based on £330,000 are invited.
Legal Costs Each party to be responsible for their own legal (and professional) costs incurred.
Viewing The property can be inspected from the road side without any prior appointment, but internal viewings are by request. Due to the nature of the activity on the site, security measures are high. Parties viewing on an “ad hoc” basis are advised to exercise caution as the access roadway to the site is regularly used by HGVs. It is likely that internal viewings will be conducted on a “block” basis to minimise disturbance to the tenant and to respect the sensitive nature of the tenant’s operations.
