An Industrial Site Measuring Approximately 1,942 sq m (20,900 sq ft) Subject to a Lease Producing £115,000 Per Annum

The property comprises an industrial site measuring approximately 1,942 sq m (20,900 sq ft)

Tenure

Freehold

Location

The plot is situated on an industrial site close to local shops and amenities. The open spaces of Priory Park are within easy reach. Transport links are provided by Reigate rail station.

Planning

Reigate & Banstead Borough Council granted the following planning permission (ref: 19/01981/F) on 24th February 2020: 'Change of use from B8 (Storage and Distribution) to B1C (Light Industrial) and the erection of a single building comprising 3 units of 1,507 sq ms GEA with associated car parking and yard areas (as amended 10.1.20)'. This planning has now lapsed.

Tenancy

The property is subject to a lease concluding in 2038 at a rent of £115,000 per annum to Standby Self Storage Ltd and G.W.Ford & Son Limited ,the tenancy is subject to 5 yearly rent reviews, based on the higher of the increase in the RPI and OMRV.

The site area depicted within the plan in the auction particulars is for indicative purposes only. Additionally, any measurements stated may not be exact. Buyers should rely on their own enquiries with regard to precise measurements, any consents or rights over the land and any possible development potential or alternative uses for this site. Some or all of the plot may comprise adopted highway land.

Services

Interested parties are requested to make their own enquiries to the relevant authorities as to the availability of services.

Additional Fees

Administration Charge - Purchasers will be required to pay an administration fee of £1,500 inc VAT

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.