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50-52 Albert Road North, Reigate, Surrey, RH2 9EL

Fixed Price
£1,500,000

£45.91 per sq. ft.

Business rates & charges may apply

Blue Alpine, London
SIZE AVAILABLE
32,670 sq. ft.
(3,035 sq. m.)
SECTOR
Light industrial facility for sale

Key features

  • Comprises an industrial site currently used as a storage yard.
  • Approximately 7.5 miles from Gatwick Airport
  • Planning permission granted on site for the change of use from B8 to B1c and the erection of a single building comprising 3 units.
  • The site and wider industrial area has been allocated for redevelopment to consist of flats, family houses and employment
  • Located few hundred meters from Reigate Town Centre

Property description

Tenure: Freehold

Investment Consideration:
Purchase Price: £1,500,000
Gross Initial Yield: 4.80%
Rental Income: £72,000 p.a.
VAT is applicable to this property
Comprises a industrial site currently used as a storage yard.

Property Description:
The property comprises industrial site, currently used as a storage yard on a secured site of 0.75 acre. The storage yard covers a total area of 20,900 sq ft with the full site extending to 32,670 sq ft.

Planning permission granted on site for the change of use from B8 to B1c and the erection of a single building comprising 3 units:
1,570 sq m (16,900 sq ft) GIA over 2 storeys
24 car parking spaces

The site and wider industrial area has been allocated for redevelopment to consist of, flats, family houses and employment space for small businesses.

Tenancy:
The property is at present let to Allenbuild Limited* for a term of 10 years from 22nd June 2012 at a current rent of £36,000 per annum and the lease contains full repairing and insuring covenants. Upon completion, the Vendor will top up the rental income to £72,000 p.a. until the end of the current lease.

*Note - Allenbuild Limited has a Creditsafe credit rating of 63B Low Risk. It's turnover for the year ending 31.03.2016 was £81,639.000 and showed a Gross Profit of £3,464,000. Place Builders Limited are the immediate Holding Company and the ultimate Holding Company is Places For People Group Limited.

Location:
Reigate is a town in Surrey, England, approximately 30 km south of central London. It is in the London commuter belt and one of four towns in the borough of Reigate and Banstead. This secure site is on the established Albert Road North industrial estate a few hundred meters north west of Reigate town centre. Access to the estate is via largely residential roads from both the A217 to the east and the A25 to the south. Junction 8 of the M25 lies within a mile north via the A217 and Gatwick Airport approximately 7.5 miles south.

Brochures

50-52 Albert Road North, Reigate, Surrey, RH2 9EL

Approximate location

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Reigate Station0.5 miles
  • Redhill Station2.2 miles
  • Earlswood (Surrey) Station2.2 miles

About Blue Alpine, London

83c Ashley Gardens, Thirleby Road, London, SW1P 1HG

Blue Alpine is a leading advisory company that helps clients around the world turn property into a path for growth. We plan and deliver solutions that manage risk, optimise benefits, and expand the power of capital to protect and strengthen portfolios. Together, we unlock potential. At Blue Alpine, we believe a comprehensive understanding of a client’s financial goals are key to helping them fulfil their investment expectations. By employing a transparent and consultative approach we can asse

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Notes

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Disclaimer - Property reference Reigate. 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 Blue Alpine, London. 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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