The property comprises a self-contained single storey concrete portal framed building offering newly constructed high specification offices and ancillary on two floors along the southern elevation with the remainder of the unit set out as an open plan warehouse. The building is seperated using electronic keycard doors providing independent offices from the warehouse zone. Loading and allocated parking spaces are within a shared yard.
The entire building was reroofed with modern insulated cladding containing daylight panels in the latter part of 2022.
Location
This property is located to the rear of the established Albert Road North Estate a few hundred meters north west of the centre of the historic market town of Reigate. Access to the estate is via residential roads from the A217 London Road to the east and the A25 to the south. Via the A217, junction 8 of the M25 lies approximately 0.9 miles to the north and Gatwick Airport, approximately 7.5 miles to the south. Reigate Railway Station is within 0.4 miles / 15 minutes walk to the east.
Accommodation
Offices - 200.66 sq m (2,160 sq ft)
Warehouse - 235.97 sq m (2,540 sq ft)
Total - 436.63 sq m (4,700 sq ft)
Terms
TENURE - Freehold
PRICE - Offers are invited in the region of £1,050,000 for the freehold interest. A purchase at this price reflects a Net Initial Yield of 4.95% assuming purchaser’s costs of 5.8% based on the current rental income across two head tenants with the reversionary opportunity in Summer 2024 to increase yield.
LEGAL COSTS - Each party is responsible for their own legal costs involved.
VAT - VAT will be charged on the sale price at the prevailing rate.
TENANCY SCHEDULE - See the attached brochure for information