Furness House is a bespoke collection of 71 contemporary one and two bedroom apartments set over four floors.
The pro perty fronts the Brighton Road which connects London and Brighton on the south east coast.
Originally constructed in 1980s as a self contained office building of around 2,474sq m (26,637sq ft) situated on a 0.83 acre (0.34 hectare) site.
The conversion from B1 office to C3 residential accommodation completed in June 2020 comprising 71 apartments of which 19 have now been sold on 130 year leases. The remaining 52 apartments, made up of 47x 1 bedroom apartments and 5x 2 bedroom properties, along with the freehold interest, are included in the sale. The majority are let on standard AST’s.
The property has the benefit of 76 car parking spaces within the car park to the rear of the property. Each property has the benefit of one space and 18 have been sold off.
Current approximate Gross Contractual Rent Passing of £45,000 per calendar month (£540,000 per annum).
Location
Furness House is located in Redhill. A popular commuter town in the Reigate and Banstead district of Surrey. Approximately 20 miles south of central London and 25 miles to the north of Brighton.
The town’s close proximity to the M25, with Junction 8 some 3 miles to the north west, allows excellent connections to the UK’s national motorway network with the M23 (Junction 9) to the east accessed via the A23 giving access to Brighton and the south coast.
The town has excellent rail access, with a direct train service to London Victoria (29 minutes) and London Bridge (33 minutes) operating every 10 minutes at peak times. The station also provides a regular service to nearby Gatwick Airport (7 minutes) and Brighton (45 minutes).
The town is well positioned for London’s main international airports, located 6 miles to the north of Gatwick and 32 miles south east of Heathrow.
Redhill is currently benefiting from significant regeneration through both private and publicly funded development projects that are being undertaken to improve the town. Plans look to further improve the current Redhill Railway Station with a vision of creating a new gateway and pedestrianised environment, new sustainable homes, retail spaces and public realm improvements.
Accommodation
Typical one bed apartment:
Number of Units - 47
Maximum Size - 45.9 sq m (495 sq ft)
Minimum Size - 31.9 sq m (344 sq ft)
Typical two bed apartment:
Number of Units - 5
Maximum Size - 64 sq m (689 sq ft)
Minimum Size - 48 sq m (517 sq ft)
Terms
PLANNING - A prior approval consent was granted under reference 18/01969/PAP3O.
TENURE - Furness House is held freehold under title number SY562242.
EPC's - EPCs can be accerssed via our dataroom.
VAT - The Property is elected for VAT. Any bid and the sale contract will be on a VAT exclusive basis albeit we anticipate the sale being treated as a Transfer of a Going Concern (TOGC).
DATAROOM - Available upon request.
PRICING - All interested parties to enquire via the joint agents.
Specification
- Located in Redhill, a popular commuter hub on the outskirts of the M25 between London and Brighton
- Situated just 3 miles south of Junction 8 of the M25 with excellent links to London and the South East
- Fast commute to London with train services into London Bridge and London Victoria in approximately 30 minutes
- Arranged over five floors
- Recently converted from B1 offices
- Total Floor area of 26,637 sq ft (2,474.65 sq m)
- Comprises 71 Apartments (19 sold off on long leases)
- 76 car parking spaces
- Current approximate gross contractual rent passing of £45,000 per calendar month (£540,000 per annum)
- Freehold
General
- Oak veneer interior doors
- USB charging points
- High-quality flooring, fitted throughout as stated
- Brushed chrome door furniture
- Two lifts & secure entrance lobby
- Video entry
- Sky Q enabled**
- Underfloor heating***
- Ten-year latent defect warranty
Kitchen
- Contemporary fitted kitchen
- Soft-close units
- Elegant worktop and full height upstand
- Unit LED downlighters
- Lamona single fan oven*
- Lamona touch control ceramic hob*
- Lamona integrated fridge freezer*
- Integrated recycling bin
- USB charging socket
- Karndean vinyl flooring
Bedroom
- High-quality, fully fitted wool carpet
- Oak veneer internal doors
- USB charging socket
- TV point
Living Room
- Karndean vinyl flooring
- Oak veneer interior doors
- Dimmable spotlights
- TV, telephone & satellite points**
* 3-year manufacturer’s warranty
** Service provider to connect
*** Exceptions apply on certain plots