Thornhill Court

Billingshurst Road, Coolham, West Sussex, RH13 8QN

FREEHOLD INDUSTRIAL ESTATE INVESTMENT
3,813.91 SQ M (41,052 SQ FT)

Status

For Sale

Location

Thornhill Court is situated on the north side of Billingshurst Road, half a mile from the centre of Coolham village, located just off the A272 and accessed via the A24 principal London/South coast trunk road. The established village of Billingshurst is within 3 miles offering day-to-day shopping facilities and a main line railway station offering services to London Victoria and London Bridge.

Horsham is approximately 8 miles to the north-east, Worthing approximately 12 miles to the south and Gatwick Airport approximately 20 miles to the north.

Investment Summary

  • Freehold multi-let industrial investment (B1, B2 and B8 uses)
  • Of interest to investors and owner occupiers
  • 41,052 sq ft, with planning consent for an additional 8,609 sq ft unit
  • Site area of 1.28 hectares (3.182 acres)
  • Passing rent of £225,826 per annum with potential to further increase upon construction of unit 5 to circa
    £300,000 pa
  • Offers are invited in the order of £3,000,000 (three million pounds)
  • Based upon the passing rent, a purchase at this level would reflect an attractive Net Initial Yield of 7.06% when taking into account the current non-recoverable annual service charge and buildings insurance expenditure and assuming purchaser’s costs at 6.45%
  • Based upon the passing rent in addition to the estimated rental value of unit 5 (to be constructed), a purchase at this level would reflect an attractive Net Initial Yield of 7.96% when taking into account the estimated build costs, the current non-recoverable service charge and buildings insurance expenditure and assuming purchaser’s costs at 6.45%

Location

Thornhill Court is situated on the north side of Billingshurst Road, half a mile from the centre of Coolham village, located just off the A272 and accessed via the A24 principal London/South coast trunk road. The established village of Billingshurst is within 3 miles offering day-to-day shopping facilities and a main line railway station offering services to London Victoria and London Bridge. Horsham is approximately 8 miles to the north-east, Worthing approximately 12 miles to the south and Gatwick Airport approximately 20 miles to the north.

Description

Thornhill Court is a rural industrial estate comprising a mix of B1 (Light Industrial) B2 (General Industrial) and B8 (Storage & Distribution) business units created from the conversion of former agricultural buildings, with two of the units having been more-recently purpose built. The industrial estate is on a site of 1.288 hectares (3.182 acres).

Accommodation

From measurements taken on site in accordance with the RICS Code of Measuring Practice we calculate the approximate gross internal areas as follows:-

Description Size Sq m Size Sq ft
Unit 1 A/B 497.86 5,359
Unit 1 C 249.63 2,687
Unit 2 A 390.69 4,205
Unit 2 B 139.00 1,496
Unit 2 C 176.82 1,903
Unit 3 A 339.44 3,654
Unit 3 B 354.09 3,811
Unit 4 A 136.11 1,465
Unit 4 B 600.82 6,467
Unit 4 C 438.92 4,725
Unit 4 D 225.94 2,432
Unit 4 E 134.61 1,449
Sub Total 3,683.93 39,653
Portacabin Office Adj Unit 4 C 26.89 289
Communal Canteen 43.53 469
Small Detached Store 4.97 53
Utilities Shed 45.53 490
Total 3,804.85 40.954

N.B. There is also a detailed planning consent (DC/12/0173) for the erection of a new B8 (storage & distribution) unit extending to 799.80 sq m (8,609 sq ft), with all planning conditions having been discharged.

Tenure

Thornhill Court is available by way of a sale of the freehold interest, subject to the existing tenancies.

Tenancy

A tenancy schedule is available on request.  The passing rent is understood to be £225,826 per annum as at March 2019.

Price

Offers are invited in the order of £3,000,000 (three million pounds)

VAT

VAT may be applicable on the terms quoted.

Legal Costs

Each party to be responsible for their own legal costs.

Price

Offers in the order of £3,000,000

Energy Performance Rating

Upon enquiry

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