Warehouse for sale
Property description & features
Fully let producing £36,000 per annum
Potential 8% plus gross yield
Privately held Freehold - rarely available
Asset Management opportunities
LOCATION
The industrial building is about 1.5 miles from the town centre in a diverse commercial/residential area, close to Crowborough & Jarvis Brook railway station with services to Uckfield and London Bridge/Victoria via East Croydon & Clapham Junction. Tunbridge Wells is about 7 miles, East Grinstead about 13 miles and Uckfield about 9 miles.
Morrisons, Waitrose, Lidl are all located within the town with a new trade counter development opposite to include Screwfix and Tesco.
DESCRIPTION
The BLM Industrial building consists of 4,100 sq.ft (378 sq.m). It is of blockwork construction with metal clad roof. There is also a two storey brick building to the rear of the site in the same tenancy/ownership. The building is constructed within a concrete portal frame with open yard areas at the front and rear of the building. The property benefits from direct access off Crowborough Hill.
ASSET MANAGEMENT
The unit is occupied by BLM Building Supplies, an independent family owned Builders Merchant, on an annual licence being at a rent of £36,000 per annum exclusive. The rent is not subject to VAT. Opportunity to grow the rent to ERV and to secure the tenancy on a longer term lease. This could increase short term income from circa £36,000 to in excess of £45,000 per annum.
BUSINESS RATEABLE VALUES: 1 April 2023 to present
BLM Building - £22,000
Small Business rate relief is applicable for these properties with rateable values below £15,000.
TENURE
The freehold is held under the following number:
SX41304.
TERMS
Offers are invited in the region of £550,000 for the freehold, subject to the existing income,
subject to contract and exclusive of VAT. The quoting price shows a gross initial yield of circa 6.5% with potential for an uplift to in excess of 8% post asset management initiatives.
VIEWING
For viewing and further information please contact the joint selling agents RH & RW Clutton
Philip Baker/Benedict Hall
RH & RW Clutton East Grinstead Office -[use Contact Agent Button]
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*DISCLAIMER
Property reference RHS240023. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by RH & RW Clutton Property - East Grinstead.
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Mobile phone signal availability and predicted strength
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Energy Performance data and Internal floor area
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