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Monkhurst House, Monkhurst House

For sale: £995,000.00|8,681 Sq Ft|Office, Offices

Property details

FOR SALE£995,000.00
SIZE8,681 Sq Ft
ADDRESSMonkhurst House, Monkhurst House, Sandy Cross, Heathfield, TN21 8QR
TYPEOffice, Offices
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON8th January 2024

Description

Key Points

  • Serviced office and warehouse accommodation - high quality and modern
  • Ample on-site car parking
  • Mixed tenants
  • Potential for development STP
  • Semi-rural position
  • Delightful outlook
  • Cat 5 cabling
  • Summary

    Delightful semi-rural office & warehouse investment for sale, yet close to Heathfield town centre. Adjacent 4 acre field also available

    Description

    The premises comprise two barn conversions, one unit incorporating 17 individual offices over ground and first floor with shared kitchen and separate male and female cloakroom facilities.  The second unit comprises a warehouse that has been split to provide 2 units of accommodation, one fitted with offices and each having access doors either end of the building. 
    The landlords supply telephone handsets to tenants together with office furniture providing for quick and easy set up for tenants.  Tenants are charged rent plus a service charge for use of the services provided.  Electricity and phones charged separately based on usage.  Tenancy agreements available from one year.

    The office suite has a gross internal area between the floors of 652.0 sq m (7018 sq ft) plus warehouse 154.5 sq m (1663 sq ft) providing a gross total internal area for both buildings of 806.5 sq m (8681 sq ft)

    The site currently generates £64,870.60 in rental income plus service charge.  A single office and part warehouse are currently vacant but if occupied would generate a further £9,667.00 of rental income.  Total actual and anticipated rental income is £74,537.60, total service charge income £43,090 which includes management and administration costs of £23,500.  A full list of tenants and terms is available to seriously interested purchasers on request.

    The site is offered for sale freehold, subject to the current tenancies.  Offers sought in the region of £995,000 equating to a return of 7.49% before purchasers costs.  It is considered there is development potential to convert the current buildings to residential use together with additional residential development in the adjoining field, subject to obtaining any necessary consents and thus enhancing the value of the site.  If a purchaser were successful in increasing the site value by this there will be an overage provision for a fixed period of time from the date of purchase.  Further details available on request.  There is an adjacent field of over 4 acres available by separate negotiation.
    Further information and additional photos available at the web site www.oldfield-smith.co.uk

    Location

    The premises are located along Sandy Cross Lane accessed from Hailsham Road, occupying a semi-rural position yet are close and within easy reach of Heathfield town centre. They comprise a series of office suites in a converted character building together with warehouse accommodation with further offices in a second building. There is ample private car parking provided on site. Tenants include financial services, solicitors, Insurance brokers, letting agents etc.

    Location

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    Location: Monkhurst House, Monkhurst House, Sandy Cross, Heathfield, TN21 8QR

    Buxted (5.9 miles)

    Stonegate (6.3 miles)

    Crowborough (6.8 miles)

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