Unterkunft
The property provides the following accommodation (net internal area) in summary:
Healthcare | 12,764 sq ft | 1,185.81 sq m | 40% |
Showroom | 2,053 sq ft | 190.73 sq m | 6% |
Büro | 6,011 sq ft | 558.44 sq m | 19% |
Ausbildung | 3,072 sq ft | 285.40 sq m | 10% |
B8/Industrial | 7,754 sq ft | 720.37 | 24% |
Gesamt | 31,755 sq ft | 2,940.75 sq m |
Please refer to the detailed tenancy schedule which is available to download.
A full measured survey is available to download and will be assigned to a purchaser at a cost of £250 + VAT
Amtszeit
Freier Halt.
Mietverhältnisse
The property produces a current income of £459,306 per annum, in accordance with the Tenancy Schedule which is available to download. The schedule provides details of rent deposits and shows the length of occupation, as well as ongoing initiatives.
Terms have also been agreed with Andy Stedman Design Ltd (Unit 2A Courtyard) for a new 5 year lease with a break at year 3 at an annual rent of £23,275 (£19.04 psf). In addition, a storage compound of 0.03 acres is being created at an annual rent of £3,500. This deal is currently being documented by the lawyers and will add £4,725 p.a. to the current rent roll.
Furthermore, terms have been agreed with Truly Gorgeous Bridalwear Limited (Unit 4 South) for a further 5 year lease with a break at year 3 at an annual rent of £12,000 (£14.44 psf) with 3 months rent free.
Bündnisse
Please refer to the Covenant Schedule detailing information on the tenants. It is suggested that the diverse income stream provides an overall secure income for an investor.
Energieausweis
The EPCs for the property vary between A and D. A full set of EPCs and recommendation reports can be downloaded from the data room.
Servicegebühr
The estate service charge for the year 2025/2026 is £82,555 per annum, equating to £2.60 per sq ft. A copy of the most recent service charge accounts and budget can be accessed from the data room.
Truly Gorgeous Bridalwear Limited has a service change cap of £2,328 and there is a current shortfall of £1,270.29.
Bewertbarer Wert
Please refer to the Tenancy Schedule for details of the of Rateable Values.
Marktkommentar
Several national and international companies have established themselves within the Chichester district to benefit from the employment profile and lifestyle attractions of the City and surrounding area. Chichester is the home of Rolls
Royce whose 600,000 sq ft worldwide headquarters and production facility is located at Goodwood, a short drive from the subject premises.
The property is a mix of E Class, warehouse and healthcare occupiers. The new E Class has been embraced by occupiers attracted to the scheme which includes pharmaceutical, vets, and laboratory businesses. We have therefore seen with this property and generally in the Chichester area a very stable environment for occupational lettings.
We calculate that 81% of the floor area and income at Vinnetrow Business Park is from non-office users either being E class or B8 use.
There is currently a low vacancy rate within the Chichester District area of 4.6% and approximately 64,000 sqft of office/E Class accommodation available with a typical take up at around 30/40,000 sqft. There are no new planned schemes forthcoming to challenge this stable position. Office/E Class rents achieved have ranged from circa £14 psf up to £24 per sq ft along the western end of the A27 corridor. The subject premises ERV sits comfortably at circa £16/20 psf depending on the suites or building.
The Work From Home (WFH) culture has not significantly affected occupation at the premises. The majority of the income and floor space at the subject premises is occupied by businesses that can only trade in person at their premises, such as vets, laboratories and kids nursery insulating the asset from the WFH culture.
MwSt
The property is elected for VAT and it is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).
Vorschlag
Wir sind beauftragt, Angebote in der Region einzuholen £4,525,000, subject to contract, reflecting £1538.72 per sq metre / £142 per sq ft, and showing a net initial yield of 9.52% , allowing for purchaser’s costs of 6.57%.
Please note that a purchaser will be re-charged the costs of the measured survey and searches (£1,970.85 + VAT) which are provided in the data room.
Überlegungen zur Investition
An opportunity to acquire an attractive South-East commercial investment;
The multi-let nature of the property provides an overall low risk income stream;
The property offers opportunities to actively manage to enhance income and value;
Attractive yield profile with reversionary potential.
Datenraum und Kauf per Mausklick
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