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Freehold Industrial Investment Opportunity
- Located on the well-established Holmethorpe Industrial Estate in Redhill Surrey
- Secure level site of approximately 2.05 acres
- Comprising five industrial units renovated in 2015, totalling 47,076 sq ft
- Passing rent £245,633 per annum exclusive, equating to a low average of £4.50 per sq ft with a reversionary rent of £398,070 per annum
- Offers in excess of £4.5 Million reflecting a low capital value figure of £82.31 per sq ft
- A purchase at this level would reflect a net initial yield of 5.11%, assuming purchaser's costs of 6.75% with a reversionary yield of 8.85%
- Good proximity to Central London with excellent road and rail links
- Good asset management potential with reversionary rents
- The industrial units are of steel portal frame construction with pitched roofs and underwent a comprehensive renovation in 2015, with a specification to include the following:
- New roofs and roof lights
- New double glazed fenestration
- External cladding
- New roller shutter doors
- Site perimeter palisade fencing
- Security gates
- Resurfaced yards and roadways
- The Investment is situated on the southern side of the established Holmethorpe Industrial Estate, which is strategically located for access to the M25 via Junction 6 (Godstone) and Junction 8 (Reigate).
Nearby occupiers include Benchmarx, Tool Station, Howdens, Halfords Autocentre, Yesss Electrical, Screwfix, City Plumbing Supplies, Topps Tiles and Bosch.
- The property has been elected for VAT.
- Strictly by appointment through Sole Agents
- The properties are available for sale Freehold, subject to the existing Leases and the associated income.