Description

The building extends to approx. 20,033 sq fft GIA and comprises three main sections which have been combined internally to create a single purposefully adapted open plan showroom unit. The property is currently operational and occupied by Super Bike Factory Limited under Use Class E for retail purposes.

The original units were constructed and operated as a warehouse unit with a 2-storey extension erected to the side more recently. In January 2025, the existing tenant completed a comprehensive refurbishment, entirely refreshing the showroom and secure rear yard.

The ground and first floor elevation has a curtain wall glazed frontage with a canopied feature entrance towards the centre of the building and a ‘staff’ / secondary access to the right-hand side. The showroom comprises the majority of the ground floor, which is predominately open plan, and has a clear working height of between 4–5m.

At the rear of the unit, there are two ground floor electric roller shutter doors used for loading and unloading motorcycle stock as well as a pedestrian access.

The first floor provides extensive office accommodation across the front as well as a front to back mezzanine level which is currently used for parts storage, also benefiting from an external roller shutter door which is accessible via a forklift from the yard.  There is also a section below the mezzanine which is currently used as a bespoke parts store / office.

A secure yard to the rear of approx. 0.14 acres allows for 18x dedicated car parking spaces (possibly more if double parked), with additional extensive communal car parking at the front of the building.

Key Features

• Newly installed gas fired space heaters
• Electric roller shutter doors
• Newly carpeted rear section
• Feature showroom LED spot lighting
• Externally accessed office accommodation (used in part for parts sales)
• Part suspended ceiling
• Ground floor disabled WC
• Internal & external CCTV

Accommodation

Ground Sales/Ancillary: 15,498 sq ft (1,440 sq m)
First Offices/Ancillary: 2,006 sq ft (186 sq m)
Mezzanine Level Storage: 2,529 sq ft (235 sq m)
Total: 20,033 sq ft (1,861 sq m)

External: Large secure rear yard with 2x loading doors and room for 18+ cars

Amenities

• Male & female WCs
• Gas central heating system
• LED lighting
• Mineral fibre suspended ceiling tiles
• Mezzanine level storage

The Leaseback Opportunity/Background

Established in April 2012, Superbike Factory Limited is the ‘UK’s leading motorbike recommerce platform’. Superbike Factory ‘SBF’ is a ‘one-stop shop’ solution for riders to sell or buy bikes.

In late December 2023, Superbike Factory was acquired by Enact, the SME Fund of Endless LLP. Endless and Enact are the UK and Europe’s leading investment & transformative investor, investing in c.100 businesses over an 18-year period. In November 2024, Super Bike Factory Limited acquired P&H Motorcycles Limited, a motorcycle dealership in Crawley, near Gatwick, operating from a c.30,000 ft2 site, and established in this location since 1980.

Over the last 5 years the site has averaged c.£10m of annual sales.

As part of the transaction SBF acquired the 20,000 ft2 Freehold property (Units 61-63), accessories & parts stock, P&M, F&F and the customer database. The adjacent 10,000 ft2 property, operated as a servicing centre and retail store, is leased. Prior to Enact’s acquisition, the business had experienced a period of considerable growth from £29m revenue in 2019 to £83m in 2023. This was achieved through the acquisition of webuyanybike and five sites to support the online sales.

The forecast for 2025 is for the Crawley site to add £10.7m of revenue and £1.4m of EBITDA to ‘SBF’. Superbike is expecting to generate cash going forwards through the addition of the new Crawley site, organic growth of existing sites through better operational and sales practices, and retail servicing launched by the business at the start of FY25, which adds another revenue stream and customer touch point without the need for further investment.

Detailed Company Overview / Financials available on request

Investment Summary

• Opportunity to acquire the Freehold of c.20,033 ft2 recently refurbished and long-established warehouse / showroom
• A new 15 year lease (10 year tenant only break) to the ‘UK’s leading motorbike re-commerce platform’
• 10-year term certain at initial rent of £240,000 pa (£11.98 psf) with a review pattern to the higher of either an annually compounded RPI/CPI with collar and cap 2/4% or OMV
• The lease will complete simultaneously with the sale.  The tenant is Superbike Factory Limited (Company Number 08037214)

Tenure

Freehold subject to a leaseback on terms to be agreed (Headlines above). Both transactions to happen simultaneously.

Price

We are instructed to seek offers in excess of £3,200,000 (Three Million Two Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects approx £159.74 psf of capital value and a net initial yield of 7.06% assuming standard purchaser’s costs.

Services

Graves Jenkins has not checked and does not accept responsibility for any of the services within this property and would suggest that any in-going tenant or occupier satisfies themselves in this regard.

EPC

Rating C - 57

Business Rates

The property has been valued by the Valuation Office Agency as a single assessment to include the neighbouring leasehold premises.
The Rateable Value for Units 61–65 is £215,000, with approximately £145,413 apportioned to 61–63 when broken down.  A future reassessment of  the property is likely to be required.

Interested parties are advised to contact Crawley Borough Council Tel: 01293 438000 or www.crawley.gov.uk to verify this information.

VAT

The vendor reserves the right to charge VAT if applicable.

Legal Fees

Each party to bear their own legal costs involved in the transaction.

AML

The proposed tenant will be required to satisfy all Anti Money Laundering requirements when Heads of Terms are agreed.

Viewing Arrangements

Viewing & further information strictly by appointment with one of the Joint Agents:

David Bessant
bessant@graves-jenkins.com

Stephen Oliver
oliver@graves-jenkins.com

or Joint Agents

Paul Fox
Paul.Fox@fljltd.co.uk

Zac Parker
Zac.Parker@fljltd.co.uk