Summary
Premises comprise a detached fully-let office building with predominantly open-plan accommodation over ground and first floors, together with a large car park providing approximately 16 spaces, along with a front forecourt providing an additional 6 spaces.
There is an additional car park opposite, which has been consented for 7 additional spaces and is owned by way of separate title WSX405020.
The premises are considered suitable for future residential conversion and development, subject to planning consent being granted.
Key Points
Tenure
The premises are available by way of a sale of the freehold interest, subject to the existing tenancies.
Best Bids
We are inviting parties to submit their best and final offers for the freehold interest by no later than 5:XXXm on Wednesday 8th June 2022. Your written offer should include the following information by return email to jm@crickmay.co.uk / ca@crickmay.co.uk.
• Details of purchaser/purchasing entity
• Your offer in pound sterling
• Proof of fund or funding arrangements
• All conditions attached to your offer
• Confirmation of being able to exchange contracts within 14-21 days from solicitors being instructed, with completion taking place within 14 days thereafter.
Please confirm if you are proposing a timetable any different from this;
• Details of solicitors acting on the purchaser’s behalf
NB. The vendor is not obliged to accept the highest offer or indeed any offer received.
VAT
VAT will be applicable on the terms quoted.
Legal Costs
Each party to be responsible for their own legal costs.
Tenancies
The ground floor is currently let to a single tenant - Technical & Development Services (Southern) Ltd, for a term of 10 years from 4 April 2019 and therefore expiring 3 April 2029 at a rent of £30,500 per annum exclusive. There is an upward only rent review due on 3rd April 2024. There is also a tenant only option to determine the lease on 3 April 2024 subject to providing at least 6 months prior written notice. The lease is granted within the security provisions of the Landlord & Tenant Act 1954.
The first floor is presently sub-divided into 7 suites which are let to 5 individual tenants on a flexible inclusive basis currently producing a total net income of £27,157.42.
The additional car park opposite is presently let to Global 4 Communications Ltd by way of a 3-year lease from 07 February 2020, therefore expiring 06/02/2023 at a rent of £6,000 per annum.
Location
The property is situated in a convenient location on the east side of the town, just south of the Brighton Road in a mixed commercial and residential location. The town centre, with its comprehensive shopping facilities, railway station and car parks are all within a short walking distance.