Gatwick Business Park Reigate Road Horley West Sussex RH6 0AH

Gatwick Business Park
Reigate Road
Horley
West Sussex
RH6 0AH

Freehold Multi-Let Industrial Investment

Located less than 1 mile north of Gatwick Airport
Includes 15 industrial units, valuable open storage and a detached bungalow
Approximate building total of 5,122 sq m (55,143 sq ft)
Approximate site area of 2.34 hectares (5.78 acres) providing a low site coverage of 22%
Includes generous car parking and vehicle circulation space and open storage
Redevelopment potential (subject to consents)
Six Week Completion

Lot
9
Auction
27th March 2014
Rent
£366,843 per Annum Exclusive
Status
Sold Prior
Price
Sector
Industrial/Warehouse
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

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Freehold Multi-Let Industrial Investment

Located less than 1 mile north of Gatwick Airport
Includes 15 industrial units, valuable open storage and a detached bungalow
Approximate building total of 5,122 sq m (55,143 sq ft)
Approximate site area of 2.34 hectares (5.78 acres) providing a low site coverage of 22%
Includes generous car parking and vehicle circulation space and open storage
Redevelopment potential (subject to consents)
Six Week Completion

Lot 9
Auction 27th March 2014
Rent £366,843 per Annum Exclusive
Status Sold Prior
Price
Sector
Industrial/Warehouse
Auction Venue
The Millennium Hotel
44 Grosvenor Square
London W1K 2HP

Property Information

Location

Miles: 25 miles south of Central London; 22 miles east of Guildford; 16 miles south of Croydon
Roads: M23 (Junction 9), M25 (Junction 7), A23, A217
Rail: Gatwick Airport Rail Station and Horley Rail Station
Air: London Gatwick Airport, London Heathrow Airport

Situation

The property is situated approximately 1 mile north of Gatwick Airport on the west side of the busy Reigate Road (A217) which connects directly to Junction 8 of the M25.

Tenure

Freehold.

Location

Miles: 25 miles south of Central London; 22 miles east of Guildford; 16 miles south of Croydon
Roads: M23 (Junction 9), M25 (Junction 7), A23, A217
Rail: Gatwick Airport Rail Station and Horley Rail Station
Air: London Gatwick Airport, London Heathrow Airport

Situation

The property is situated approximately 1 mile north of Gatwick Airport on the west side of the busy Reigate Road (A217) which connects directly to Junction 8 of the M25.

Tenure

Freehold.

Description

The property comprises a site of approximately 2.34 hectares (5.78 acres) upon which there is a substantial industrial building which has been divided to provide 13 smaller units, all benefiting from an eaves height of 4.7 metres (15 ft) and from vehicle access loading doors. There is also a separate detached industrial building comprising 2 smaller industrial units, substantial hardstanding areas used as open storage and generous car parking and circulation areas. In addition there is a detached bungalow. The property is accessed via a smart block paved private access road.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit No.	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Reversion
1A	Ground	Warehouse	556.30 sq m	(5,988 sq ft)	NIBLOCK LOGISTICS SOLUTIONS LIMITED	3 years from 21/03/2013	£17,500	20/03/2016
1B	Ground	Warehouse	286.23 sq m	(3,081 sq ft)	C2C WHOLESALERS LIMITED	3 years from 24/06/2012	£12,324	23/06/2015
1C	Ground	Warehouse	437.20 sq m	(4,706 sq ft)	POOLLOCK LIMITED	3 years from 06/11/2012	£23,530 (6)	28/09/2015
2A, H4 & H3	Ground	Industrial Open Storage	94.02 sq m 718.60 sq m	(1,012 sq ft) (7,735 sq ft)	SURE PARKING LIMITED	3 years from 10/04/2012	£7,048	24/03/2015
2B H2	Ground	Warehouse Open Storage	95.76 sq m 557.04 sq m	(1,031 sq ft) (5,996 sq ft)	POOLLOCK LIMITED	5 years from 29/09/2013	£15,222	28/09/2018
3	Ground	Residential	79.90 sq m	(860 sq ft)	MR JOHN JOSEPH COREY	Regulated Tenancy	£6,600
5	Ground	Warehouse	76.89 sq m	(828 sq ft)	GLOBOVAC LIMITED	5 years from 19/11/2013 (1)	£8,850	18/11/2018
7	Ground	Warehouse	183.02 sq m	(1,970 sq ft)	MR IAN STEWART	3 years from 25/06/2012	£9,850 (2)	23/06/2015
8	Ground	Warehouse	460.42 sq m	(4,956 sq ft)	NIBLOCK LOGISTICS SOLUTIONS LIMITED	2 years from 29/09/2013 (3)	£22,300	20/03/2016
10 H1	Ground	Warehouse Open Storage	315.88 sq m 802.95 sq m	(3,400 sq ft) (8,643 sq ft)	QUICKSHIFT UK LIMITED	3 years from 24/06/2012	£35,371 (8)	23/06/2015
12	Ground	Warehouse	166.11 sq m	(1,788 sq ft)	MR BARTOSZ BRENDEL	2 years from 24/06/2013	£8,940	23/06/2015
14	Ground	Warehouse	157.28 sq m	(1,693 sq ft)	MR BARTOSZ BRENDEL	3 years from 26/06/2012	£8,465 (4)	23/06/2015
15	Ground	Warehouse	313.44 sq m	(3,374 sq ft)	LOVE WATER LIMITED	3 years from 01/08/2011	£13,160	24/06/2014
17	Ground	Warehouse	467.08 sq m	(5,028 sq ft)	COLLINGWOOD BATCHELLOR LIMITED	5 years from 25/03/2010	£35,280	24/03/2015
18	Ground	Warehouse	471.57 sq m	(5,076 sq ft)	COLLINGWOOD BATCHELLOR LIMITED	5 years from 25/03/2013	£27,918	24/03/2018
20/21	Ground	Warehouse	915.34 sq m	(9,852 sq ft)	LBS (SERVING BIOTECHNOLOGY) LIMITED	3 years from 24/06/2012	£53,500	23/06/2015
24	Ground	Warehouse	46.45 sq m	(500 sq ft)	VACANT POSSESSION
H5	Ground	Open Storage	468.88 sq m	(5,047 sq ft)	THE CAR HIRE SPECIALISTS (CRAWLEY) LIMITED	2 years from 14/06/2013	£8,832	23/06/2015
H6	Ground	Open Storage	667.97 sq m	(7,190 sq ft)	SRCL LIMITED	225 days from 19/08/2013	£10,785	31/03/2014
H9/H11	Ground	Open Storage	1,440.91 sq m	(15,510 sq ft)	NSL LIMITED	3 years from 22/08/2011	£15,742	28/09/2014
H12/H14	Ground	Open Storage	1,022.57 sq m	(11,007 sq ft)	GOODWIN LEE INVESTMENTS LIMITED	3 years from 02/12/2013 (7)	£22,014	24/12/2016
H15	Ground	Open Storage	119.01 sq m	(1,281 sq ft)	GATWICK AIRPORT CAR RENTAL LIMITED	2 years from 16/12/2013 (5)	£2,562	24/12/2015
H16	Ground	Open Storage	97.55 sq m	(1,050 sq ft)	QUICKSHIFT UK LIMITED	From 01/12/2013 until 23/06/2015	£1,050
Totals			11,018.37 sq m	(118,602 sq ft)			£366,843 (2) (4) (6)

(1) As to Unit 5, the lease provides for a tenant option to determine the lease on 14th November 2016 on 6 months’ notice.
(2) As to Unit 7, under the terms of the lease the current rent reserved is £7,880 per annum exclusive. The lease provides for a fixed rental increase to £9,850 per annum exclusive on 25th June 2014. The seller will pay the buyer the difference between £7,880 per annum exclusive and £9,850 per annum exclusive from completion of the sale until 24th June 2014.
(3) As to Unit 8, the lease provides for a mutual option to determine the lease on 28th September 2014 on 3 months’ notice.
(4) As to Unit 14, under the terms of the lease the current rent reserved is £6,772 per annum exclusive. The lease provides for a fixed rental increase to £8,465 per annum exclusive on 26th June 2014. The seller will pay the buyer the difference between £6,772 per annum exclusive and £8,465 per annum exclusive from completion of the sale until 26th June 2014.
(5) As to H15, the lease provides for a tenant option to determine the lease on 24th December 2014 on 3 months’ notice with a penalty of 4 months rent if exercised.
(6) As to Unit 1C, under the terms of the lease the current rent reserved is £17,648 per annum exclusive. The lease provides for a fixed rental increase to £23,530 per annum exclusive on 6th November 2014. The seller will pay the buyer the difference between £17,648 per annum exclusive and £23,530 per annum exclusive from completion of the sale until 6th November 2014.
(7) The lease is subject to a tenant option to determine by way of a side letter in the event the local planning authority requires planning permission for retention of two portakabins located on the land and planning permission is not granted. Please see a copy of the side letter in the legal pack.
(8) As to Unit 10, the rent shown above includes £1,000 p.a.x. for a licence for 10 car parking spaces for a period of 3 years from 24th June 2012 until 23rd June 2015.