Interlinking Light Industrial Income Producing Investment Opportunity

Location

The Riverside Industrial Estate comprises of a well established development of circa 60 individual light industrial/warehouse units of varying sizes. The subject unit is of steel frame construction providing modern warehouse accommodation with a forecourt/loading area. The Riverside industrial estate is located on Bridge Road, one of the main access roads into Littlehampton, adjacent to the junction with the Littlehampton bypass (A259). Littlehampton railway station with its regular services along the South coast and North to London is located directly opposite the industrial estate entrance. The A24 and A27 trunk roads are within a short drive.

Description

The units comprise of a concrete frame construction providing ground floor warehouse accommodation with first floor mezzanine level. The units have been linked at both ground and first floor levels although this easily could be reinstated to two self contained units if required. The properties, which do require some modernisation, benefits from concrete flooring, LED lighting, gas heating, single phase electricity, two electric roller shutter doors (15’9 x 10’) whilst each unit benefits from its own WC and kitchenette facilities. Externally the units come with two allocated parking space plus the space directly in front of the roller shutter door.

We understand that the premises benefit from class E (GIII) formally B1 (c) light industrial, B2 general industrial and B8 storage and distribution uses but interested parties are asked to make their own planning enquires.

Accommodation

The property has the following approximate floor areas:

Unit N3
Ground Floor Warehouse	895 Sq Ft
Room One (Mezz Level)	92 St Ft
Room Two (Mezz Level)	210 Sq Ft
Room Three (Mezz Level)	92 Sq Ft
Unit N4
Ground Floor Reception	48 Sq Ft
Warehouse	895 Sq Ft
Storage (Mezz Level) 627 Sq Ft
TOTAL AREA	2,859 Sq Ft

Terms and Tenancies

The property is available freehold subject to the below mentioned tenancy.

The units are let to a private individual on a 12 year effective FR&I lease expiring 17th March 2031. The current passing rent is £19,600 per annum.

A full copy of the lease is available to interested applicants upon request.

Guide Price & VAT

£290,000 (Two Hundred and Ninety Thousand Pounds)

VAT is not to be charged on the quoting terms

Business Rates

According to the VOA (Valuation Office Agency) the property has a rateable value of £21,750. Interested parties are asked to contact Arun District Council to discuss what relief, if any, is applicable to their business

Service Charge

TBC

Legal Costs

Each party to pay their own costs

EPC

E(115)

Anti-Money Laundering

In accordance with Anti-money laundering requirements, two forms of identification will be required from the tenant and any beneficial owner together evidence /proof Identifying the source of funds being relied upon to complete the transaction.

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