Light Industrial for sale

Highdown House 11 Cecil Pashley Way, Shoreham-By-Sea, BN43

Under Offer 10,114 sq. ft. | £725,000

Property Description

Commercial information

  • 10,114 sq ft (939 sq m)
  • Use class orders: B2 General Industrial

Key features

  • 125 year long leasehold interest
  • Modern industrial investment
  • Terrace of 7 units, with the two end units being sub-divided to provide two office suites
  • Provision for parking
  • Each unit has lavatory facilities, heating and lighting to the factory units.
  • Built in 2000

Full description

Tenure: Freehold

LOCATION

Shoreham-by-Sea is found adjacent to the western boundary of the Brighton & Hove conurbation, some 7 miles west of the city centre and a similar distance from Worthing. Shoreham Airport is found to the north west of the town centre immediately off the A27 duel carriageway north of the city giving fast access to the A23. Gatwick Airport and the M25, and to other south coast centres. It comprises a small airport mainly catering to light aircraft and helicopters. The southern part of the airport incorporates a small industrial estate which caters for, in the main, aviation focussed companies, but also includes some more general light industrial users. The property is situated on the south side of Cecil Pashley Way close to the main airport terminal building. The south coast railway line is immediately to the south.

DESCRIPTION

The property was built in 2000 and comprises a modern detached light industrial building which has been sub-divided into nine units, including two office suites.

It is of portal frame construction with brick and profiled steel clad elevations with double glazed windows under a pitched profiled steel roof incorporating light panels. The eaves height is approximately 5.5m and the 7 units have a steel roller door to the front elevation. A small extension with roof terrace has been constructed to the rear of the western elevation which forms part of the rear office unit. With the exception of Unit 2 the units have first floor accommodation at the rear.

Each unit has lavatory facilities, heating and lighting to the industrial areas and gas heating to a number of the office areas.

The property has provision for parking immediately to the west of the property, with further parking in the airport's pay and display car parks.

TENURE

The property is held on a 125 year lease from 22 May 2000 having just under 110 years unexpired. It is subject to a 20% geared ground rent based on market rent and reviewable on a five yearly upwards only basis. The rent review due on 22 May 2015 has recently been completed at 17,500 pa. The gross rent receivable is 86,292 pa and after adjustment for the head rent the net rent receivable is 68,792 pa.

VAT

The sale will be carried out as a TOGC (transfer of a business as a going concern).

EPC

The building has an EPC rating of Band E 102. The certificate is available on request.

PROPOSAL

We are instructed to seek offers of 725,000 for the long leasehold interest, subject to contract which equates to a net initial yield of 9% having allowed for purchasers costs of 5.8%.

VIEWING

Viewing is strictly by appointment with the vendors agents:

Cluttons
44-46 Old Steine
Brighton BN1 1NH

More information from this agent

Nearest stations

  • Shoreham-by-Sea (0.8 mi)
  • Lancing (1.5 mi)
  • Southwick (2.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Cluttons LLP, Brighton

44 - 46 Old Steine, Brighton, BN1 1NH

01273 839260 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Shoreham-by-Sea (0.8 mi)
  • Lancing (1.5 mi)
  • Southwick (2.3 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

Cluttons LLP, Brighton

44 - 46 Old Steine, Brighton, BN1 1NH

01273 839260 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference Highdown_house_Shoreham. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Cluttons LLP, Brighton. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

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