Overview
The Premises comprise an end-terrace self-contained modern Industrial Unit of steel portal frame with brick/block elevations and smooth finished steel cladding under a pitched insulated roof. The Unit has the benefit of a first floor mezzanine with Kitchenette, Stores and Office Space over ground floor warehouse space, amenities and allocated parking.
The Opportunity
Signtek was established in 1990 and is one of the most active Sign companies in the region providing a variety of services including print, vehicle livery, garments and embroidery and bespoke fabrication. The company occupy two units within this modern business park. First renting and then purchasing Unit 5E and in 2015 they purchased unit 5D.
Cavendish Place (Eastbourne) Limited t/a Signtek purchased the Premises in 2008 and at the same time acquired a lease of the adjoining property. The lease for the adjoining property was renewed in 2022 for a further 10 years with a Rent Review at Year 5.
Tenure
Freehold for sale subject to a new 10 year full repairing and insuring lease with 5th year upward only Rent Review to Cavendish Place (Eastbourne) Limited t/a Signtek, Company Reg 04285528 at a Rent of £29,500 per annum.
Size
Amenities
Location
The Unit is located on Southbourne Business Park on the western side of Courtlands Road approximately ¾ miles north of Eastbourne Town Centre. The A22/A27 junction lies approximately 2 miles to the north east, providing access to the county of East Sussex and beyond. The estate boasts of a number of occupiers including ESK Retail Warehouse, Ebleys Tyres, Parker Building Supplies and Stamco Timber.
Rent
Business Rates
We are advised by the Local Authority that the property has the following rating assessment:
Warehouse & Premises £25,750
VAT Details
VAT will be charged on the terms quoted.
Legal
Each party is to be responsible for their own legal fees.
Terms
Price
Offer in the region of £415,000 representing a yield of 7% by way of a TOGC.
Company Accounts are available upon request.
VAT
VAT will be chargeable on the terms quoted.
