FREEHOLD INVESTMENT/REDEVELOPMENT OPPORTUNITY FOR SALE - £1,800,000 OIRO Phoenix House, 53-59 Lingfield Road and Wellington Town Road East Grinstead, West Sussex RH19 2EU INVESTMENT/REDEVELOPMENT The site has an area of 0.50 acres split between There will be an overage clause in the contract of OPPORTUNITY Phoenix House 0.38 acres and the car park 0.12 acres. sale providing for a further payment to be made to Floor areas are net internal for the offices and retail the seller in the event that an improved planning Phoenix House, 53-59 Lingfield Road and and gross internal for industrial/warehouse units. permission is obtained. Wellington Town Road PLANNING The property is not elected for VAT. East Grinstead, West Sussex, RH19 2EU Outline planning permission has been granted by Mid Sussex District Council under reference EPC OFFERS INVITED IN THE REGION OF - £1,800,000 DM/16/3651 to demolish the existing buildings and Information from the selling agent. • Four B1 light industrial/warehouse units erect eight dwellings and three flats in their place. • Two first floor office suites VIEWING • Ground floor retail/showroom BUSINESS RATES For viewing and further information please contact • Outline planning permission granted for the The property has the following rateable values: the selling agent: RH & RW Clutton on 01342 410122 demolition of the existing buildings and the erection of 6 two bedroom dwellings, 2 three Unit 1 Office and premises £12,750 Philip Baker - [email protected] bedroom dwellings and 3 two bedroom flats over a Unit 1A Warehouse and premises £15,250 Richard Grassly – [email protected] retained shop unit Unit 2/2B Showroom and premises £16,000 • Site area 0.5 acres (0.2ha) Unit 2A Store and premises £11,000 Unit 2C Office and premises £4,000 SITUATION Unit 2D Office and premises £5,900 The property is located on the northern side of East Unit 3 Workshop and premises £8,000 Grinstead fronting Lingfield Road and with a return Unit 4 Workshop and premises £6,200 frontage to Wellington Town Road at the rear. The area is predominantly residential although the TENURE Charlwoods Road Industrial Estate is nearby, as is the The property is held freehold and subject to the A22 London - Eastbourne Road. East Grinstead town tenancies set out in the schedule. centre and railway station are within approximately 0.75 miles. Bus services pass the property and there TENANCIES AND ACCOMMODATION (see overleaf) is a local shop nearby. Junction 10 on the M23 which The property produces an income of £118,000 with connects to the north with the M25 and to the south potential uplift in income on letting of available units. with the A23 trunk road to Brighton and the south coast is approximately 6 miles distant. Gatwick A service charge is generated to cover the costs of Airport is within easy reach. external maintenance and buildings’ insurance.

DESCRIPTION TERMS Phoenix House comprises four B1 Light Industrial Offers are invited in the region of £1,800,000, subject buildings, two first floor office suites and a ground to contract. A purchase at this price reflects a net floor showroom/retail unit. The property offers initial yield of 6.17% and a potential revisionary yield approximately 12,959 sq ft of accommodation and of 8.11% after costs. 23 parking spaces in a separate car park to the rear of the property in Wellington Town Road. Unit Floor Use Area sq Tenant Lease Start Lease Expiry Rent Fixed Rent L&T Act Comments ft Uplift 1, 2, 2B Ground Retail Showroom 4,032 East Grinstead Bathrooms & 01.02.2017 31.01.2022 £55,000 £57,500 in Outside Landlord’s break option Kitchens Ltd years 3 & 4 between 01.02.2019 and 01.02.2020. Tenant’s break 01.02.2020. Both 6 months’ notice 2A Ground Light Industrial 1,907 Unique Technical Solutions Ltd 01.05.2017 30.04.2019 £20,000 Agreement documented as a “licence”. Unit on market. 1A Ground Warehouse 2,879 To be vacated on sale Unit occupied by seller's business

2C First Offices 477 Nationwide Gutters Ltd 01.04.2016 31.03.2021 £6,500 £7,000 in Outside Landlord’s 12 months’ years 4 & 5 break notice served effective 01.04.2019. Tenant’s breaks 2nd, 3rd, 4th anniversaries on 6 months’ notice. 2D First Offices 755 Brooker Care Ltd - guarantor D 22.12.2017 21.12.2020 £8,500 £9,000 in Outside Landlord’s break option Howells year 2 & 1st and 2nd anniversaries. £9,500 in Tenant’s break 2nd year 3 anniversary. Both 6 months’ notice. 3 Ground Light Industrial 1,727 Signature Me Ltd 29.09.2018 28.09.2019 £15,000 Area incudes mezzanine & Mezz of 420 sq ft. Agreement documented as a “licence”. 4 Ground Light Industrial 1,182 Keyway Construction (SE) Ltd 07.11.2018 06.11.2019 £13,000 Agreement documented as a “licence”. Totals 12,959 £118,000 NOTICE: RH & RW Clutton (and their joint agents where applicable) for themselves and for the vendors or lessors of this property for whom they act, give notice that (i) these particulars are a general outline only, for the guidance of prospective tenants or purchasers, and do not constitute the whole or any part of an offer or contract. (ii) RH & RW Clutton cannot guarantee the accuracy of any description, 01342 410122 dimensions, references to condition and other details contained herein and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy. (iii) the vendor does not make or give, and neither www.rhrwclutton.com RH & RW Clutton nor any person in the employ of RH & RW Clutton has any authority to make or give any representation or warranty 92 High Street East Grinstead West Sussex RH19 3DF in relation to this property. Property particulars prepared November 2018