Gatwick Metro Centre, Balcombe Road, Horley, Surrey, RH6

LOCATION
Gatwick Metro Centre is situated on the east side of Balcombe Road close to Horley town centre and A23 London-Brighton Road. Gatwick Airport is approximately 2 miles to the south and Junction 9 of the M23 approximately 2 ½ miles.

DESCRIPTION
The premises are located at the end of a terrace in a prominent position with easy access as you enter Gatwick Metro Centre, a thriving estate of modern industrial/warehouse units of steel portal frame construction. Units 19 and 20 with brick and clad elevations is fitted out to a high standard to suit the current owner occupier needs and is arranged as ground floor workshops and stores with a mezzanine providing offices and stores, ancillary kitchen WC accommodation, GFCH, 3 phase power. Outside each unit has a forecourt offering parking and loading - in total approximately 10 bays across the two units.

Approx. dimensions as follows: -
Unit 19 Ground flr 2033 sq ft 188.89 m2
Mezzanine 1953 sq ft 181.45 m2

Unit 20 Ground flr 2004 sq ft 186.19 m2
Mezzanine 2047 sq ft 190.19 m2

Net Internal Area Approx. 8037 sq ft (746.72m2)

THE OPPORTUNITY
Our clients are seeking to now sell their Freehold interest held under Title No SY581866 whilst their trading business remains in occupation under the existing 15 year lease to plan their own succession and retirement.
The trading business is taking a new 15 year term granted to Templec Services Limited at a commencing rent of £ 65,000 pax with upward only rent reviews and Tenants option to break at the end of the fifth and tenth years. The intention is for our clients to offer their trading business the new lease soonest subject to contract so that this enables an assignment to new owners of the business once a business sale concludes. The lease will be subject to a schedule of condition having been prepared at commencement and the Tenant will be responsible for paying the modest annual estate charge (approx. £1200 per annum per unit).

GUIDE PRICE
Offers in the region of £950,000 for the Freehold interest subject to contract and the existing lease.

TENURE
Freehold interest held under Title No SY581866 subject to contract and the existing lease granted to Templec Services Limited.

RATES
We understand from an online search that the premises has a rateable value of £47,500.

VAT
We do not believe that the premises are elected for VAT All rents, prices and premiums are stated exclusive of VAT under the Finance Act 1989. Accordingly, interested parties are advised to consult their professional advisers as to their liabilities, if any, in this direction.

TENANT & TENANT COVENANT
Templec Services Ltd established in 1994 offer temporary site services to the construction industry with many of the UK's larger construction companies being clients. Their services include offering temporary site power, lighting, plumbing, alarms, security, CCTV and other support services from this HQ.
Key financials on the Tenant Company:

Y/E 31.7.21 Turnover: £2.88m
Gross profit: £1.9m
Net profit before tax: £524k
Y/E 31.7.22 Turnover: £3.78m
Gross profit: £1.87m
Net profit before tax: £ 1.18m
Y/E 31.7.23 Turnover: £4.5m
Gross profit: £2.17m
Net profit before tax: £1.23m

Our clients will provide financial insight into the Tenant business to bona fide applicants.

LEGAL COSTS
Each party to be responsible for their own legal costs in the transaction.

EPC
The premises have a compliant EPC rating of C (73) valid until 10.7.33

VIEWING
Strictly by prior appointment via the sole agent:
ROBINSONS - Sole Agents