Units M2 & M3, Hilton Park Industrial Estate, Church Farm Lane, East Wittering, West Sussex, PO20 8RL

Description

Industrial Investment Opportunity

Location

East Wittering is a coastal village in the Chichester District of West Sussex. It is located on the Manhood Peninsula, and lies approximately eight miles southwest of Chichester, and six miles northwest of Selsey. Access to the north of East Wittering is via the A286, which links with the A27 Chichester Bypass to the north.

The subject property forms part of the Hilton Park Industrial Estate, which is situated about half a mile from the centre of East Wittering. The premises are generally positioned within the south-eastern corner of the estate.

Planning

Interested parties should make their own planning enquiries and satisfy themselves in this regard.

VAT

We understand that the property is elected for VAT and therefore it is assumed that the sale will be treated by way of a Transfer of A Going Concern (TOGC).

Accommodation

The units are of traditional steel-framed construction, with elevations clad in corrugated single skin metal sheet to full height. Each unit has a minimum eaves eight of approximately 19'7'' (6m), with a loading door to the front elevation for each unit.

Outside are concrete-covered loading and car parking areas to the front of the units.

The accommodation has the following approximate Gross Internal Area (GIA):

Units M2 & M3
Ground Floor - 1,838 sq ft 170.56 sq m
Mezzanine Floor - 1,838 sq ft 170.56 sq m
Total - 3,676 sq ft 341.5 sq m

Business Rates / Council Tax Band

Rateable Value (2023): £25,500

EPC

We understand the properties have an EPC rating of E (106) for M2 and D (81) for M3.

Legal Fees

Each party to bear their own legal costs incurred.

Terms

The units are currently let to Hardcloud Limited, until 13 December 2026, at a rent of £33,000 per annum exclusive. The lease is full repairing and insuring subject to a schedule of condition.

We have been instructed to market the property for the freehold interest at a guide price of £515,000, subject to contract and the lease above. A purchase at this level would reflect an overall capital value of £140 psf.