Balcombe Road, Horley, RH6

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Key Points

Summary

Balcombe Road, Horley, RH6 9AG

Opportunity to purchase a strategically located Freehold site in Horley.

Description

The Site gained planning permission in July 2019 for redevelopment to incorporate the erection of a part two and part three storey office building with associated facilities, including the provision of car and cycle parking. Prior to this, the site was the location of the former gasholder site in Horley.

The existing office development is c. 90% completed and comprises 54,000 sq ft NIA. Estimations of the demolition costs can be found in the data room.

Location

The Site is located in Horley in the District of Reigate and Banstead in Surrey, just north of the county border with West Sussex. It is less than a 15-minute walk from Horley train station and a 7-minute walk from Horley’s High Street. The Site is approximately 23 miles south of Central London and 3.5 miles north of Crawley.

London Gatwick Airport lies c. 1.5 miles to the South West. The site also benefit from good access M23 within 8 minutes drive (3.9 miles). Axiom Business Park borders the Site to the west and Gatwick Metro Centre to the east.

LOCAL AMENITIES

Nearby Crawley, approximately 4 miles south of the Site, offers County Oak Retail Park and County Mall Shopping Centre. Additionally, Redhill, approximately 4.5 miles to the north, benefits from many leisure and retail providers across both the Quadrant and The Belfry shopping centres.

Horley is home to a series of parks and sports grounds, including Horley Recreation Ground, Horley Leisure Centre, Court Lodge Fields and
Horley Cricket Club all to the west of the Site, adding to the abundance of green space and leisure options.

Horley benefits from a wide variety of schools. In addition, the town is well serviced with availability to nearby supermarkets including a Tesco Extra, Lidl, Waitrose, Tesco Express, Iceland and an array of convenience stores.

Availability_text

The accommodation comprises the following areas:

Communications

The Site benefits from excellent air, road and rail transport links which provide strong credentials for future occupants.

BY RAIL
Horley Station is serviced by Thameslink which provides direct routes to both Central London and Brighton. Travel times to London Bridge by train take under 40 minutes, with an average of 9 trains per hour during peak travel times. London Bridge provides access to underground train services,
including the Northern and Jubilee lines. This allows Bank station to be accessible within under an hour and Bond Street in approximately an hour.

• Gatwick Airport - 2 minutes
• Crawley – 13 minutes
• London Bridge – 39 minutes
• Brighton – 43 minutes (1 change, via Gatwick)

BY ROAD
The Site benefits from excellent road connectivity with Junction 9, the Gatwick Interchange, of the M23 located only a 6-minute drive (2.8 miles) south east. In addition, the M25 can be accessed via a 14-minute (11.2 miles) drive north along the M23.

BY AIR
Gatwick Airport is located directly south of the Site and can be accessed in as little as a 10-minute drive or a 15-minute combined walk and train journey.

Industrial Market Commentary

Horley and the wider Gatwick submarket has benefitted from a swathe of new build industrial development over the past 24 months, which has bolstered ERVs up towards £17.00 per sq ft for new build industrial units. Manor Royal in Crawley has seen the highest quantum of developments, from the likes of GLP, Panattoni, Wrenbridge and Equation, who have recently completed mid-big box schemes.

The market has benefitted from offering relative affordability when compared to more centrally located South London submarkets such as Croydon, where quoting rents are now at £25.00 per sq ft on mid-box schemes.