Overview
Full Income Producing Investment
The premises offer high quality, purpose built accommodation with flush smooth steel profile cladding and glazed elevations. Internally, the Unit offers Ground Floor Factory Area and a Sectional Loading Bay Door with Disabled WC and stairs leading to the First Floor Office accommodation. The Offices are finished to a high standard and feature large windows providing excellent natural light. There are also two Warehouse Storage Mezzanines areas.
The Opportunity
Eastbourne Foodbank Co. Reg 08300396 was established in 2011 and has grown substantially operating out of 6 locations around Eastbourne collecting and delivering food and household items to those in need. The tenant renewed the lease in February 2023 for a second term.
Tenure
Freehold for sale subject to a lease to Eastbourne Foodbank Co. Reg number 08300396 at a rent of £35,000 pax on a new full repairing and insuring lease for a term to expiry 4th February 2028 outside the Landlord & Tenant Act Sections 24-28 1954.
It Is considered that the passing rent is below OMV in the region of 10%.
Size
Amenities
Location
Brampton Business Park is located on the established Hampden Park Industrial Estate approximately 2 miles north of the Town Centre with immediate access to Cross Levels Way, the main arterial road into the Town Centre. The Property lies less than half a mile away from the Polegate Bypass, with fast and direct access to the A27 routes both East and West (to the M23) plus the A22 to London. Hampden Park mainline railway station is also approximately 500 yards from the premises with direct trains to Brighton, Gatwick and London Victoria.
Rent
Business Rates
According to the Valuation Office website the premises are described as:
Warehouse and premises
Rateable Value: £33,000
(All interested parties are advised to make their own enquiries with the Local Authority).
VAT Details
Legal
Each party is to be responsible for their own legal fees.
Terms
Offers in the region of £499,000 representing a yield of 7% for the Freehold subject to the existing lease.
The Sale will be way of TOGC
