For Sale
Ellen Street Estate,
Portslade,
Brighton BN41 1DW
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Investment
1.55 Acres (0.63 Hectares)
- Located in Portslade, a suburb of Brighton in East Sussex.
- Benefiting from good connectivity via the A27 which connects Portslade to the nearby locations of Worthing, Shoreham-by-Sea and Brighton.
- Comprising two industrial units and a small office building, extending to 36,108 sq ft (3,355 sq m).
- Multi-let to 3 tenants, producing a total passing rent of £213,250 per annum which reflects a low £5.91 per sq ft, presenting significant opportunities for reversion.
- Site area of 1.55 acres, reflecting a site cover of 48%.
- Freehold.
- Restricted supply of existing or pipeline industrial stock on the coastal strip between Brighton and Worthing, with continued strong occupational demand.
- Multiple value-add opportunities through active asset management.
Location
Portslade is a village in East Sussex and is located approximately 3 miles east of Shoreham-by-Sea and 3 miles west of Brighton City Centre.
Portslade benefits from good connectivity to other key towns and cities on the south coast, via the A27 to locations such as Shoreham-by-Sea, Brighton, Worthing and Lewes. Other key roads include the A270 Old Shoreham Road (to the north) and A259 South Coast Road (to the south).
Portslade train station (West Coastway Line) provides regular train services to and from the village.
The property is situated on Ellen Street in an established commercial area which comprises predominantly industrial and office buildings.
Located immediately to the west of the property is a Jewson builders merchant. Further south is Trafalgar House, which comprises offices, workshops and artist studios which are occupied by a number of local businesses. To the south east, is CityCoast Church.
North Street connects the property to the B2914 (Boundary Road) which is the main commercial thoroughfare of Portslade. The street is populated by a number of local high street shops and Portslade train station is located to the north.
Away from the industrial / office cluster is a significant residential catchment area which surrounds Vale Park.
Description
Portslade - Reversionary Multi-Let Industrial Investment
Energy Performance Rating
A copy of the EPC certificates are available on request
Planning
Tenancy Information
Ticketmedia Ltd
Ticketmedia is the leading provider of advertising on transport tickets and receipts.
By putting the advertising message directly into the consumer's hand, we produce campaigns that deliver exceptional return on investment and are some of the most effective available to marketers.
Further information - https://www.ticketmedia.com/
Lansdowne Green SIPS Ltd
Lansdowne Green are an appointed delivery partner of Kingspan TEK, who manufacture and erect SIPs structures for both domestic and commercial in the South East of England.
Lansdowne Green ensure that quality, detailed packages are delivered each and every time to our customers by combing a specialist design team and years of construction experience with the leading BBA approved, building products on the market today.
Further information - https://www.lansdownegreen.co.uk/
Braillard Training Ltd (Tungsten Training Centre)
Bralliard Training (trading name - Tungsten Training Centre) are passionate about training and qualifications within the Construction Industry; we offer start-up courses for those wishing to enter the industry, NVQs, Diploma's and assessments for those who want to further their career.
Further information - https://www.tungsten-training-centre.co.uk/
Terms
We are instructed to seek offers in excess of £3,000,000 (Three Million Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects an attractive net initial yield of 6.68% and a low capital value of £83 per sq ft., assuming purchasers' costs of 6.45%.
VAT
The property is elected for VAT and it is proposed that the sale will be treated as a Transfer of Going Concern (TOGC).
Flude Property Consultants for themselves and for the vendors or lessors of this property whose agents they are give notice that: i) these particulars are set out in good faith and are believed to be correct but their accuracy cannot be guaranteed and they do not form any part of any contract; ii) no person in the employment of Flude Property Consultants has any authority to make or give any representation or warranty whatsoever in relation to this property.
Please note that whilst we endeavour to confirm the prevailing approved planning use for properties we market, we can offer no guarantees in this regard. Planning information is stated to the best of our knowledge. Interested parties are advised to make their own enquiries to satisfy themselves in respect of planning issues.
We advise interested parties to make their own enquiries to the local authority to verify the above and the level of business rates payable in view of possible transitional arrangements and any reliefs.