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We have a unique opportunity for a potential investor to acquire a multi-let business space and industrial/warehouse investment in a key Greater London area.
• A modern estate of 18 units totalling approximately 28,550 sq ft (2,652.4 sq m) GIA.
• Strategically located close to J9 of the M25 with access to the national motorway network.
• Fully let to 16 tenants with an average weighted unexpired lease term of approximately 3.8 years and 2.0 years to breaks.
• Current rental income of £497,792 per annum exclusive, equating to £17.44 per sq ft (£187.68 per sq m).
• Recent lettings of Units 8 and 9 equate to £19.42 per sq ft with potential to increase the rent to £556,725 pa, i.e £19.50 per sq ft which reflects the current market rental value.
• Site extends to 1.213 acres (0.491 hectares).
• Let to a range of SMEs with tenants including Stulz UK, Trafag (UK) and Stego UK.
• The property is elected for VAT.
• Offers are invited in excess of £9,300,000 (Nine Million Three Hundred Thousand Pounds) for the freehold interest, subject to contract and exclusive of VAT. Buyer fees of 2% plus VAT apply.
• A purchase at this level would reflect a net initial yield in the region of 5% after allowing for purchaser’s costs of 6.65%, with a capital value of £326 per sq ft.
• When adopting market a rental value of £19.50 per sq ft, the potential reversionary yield increases to 5.6%.
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* The above information is the average for each state in United Kingdom For more details about loans, please send us an enquiry.
Disclaimer: Currency shown is based on currency conversion, please refer to actual currency price of the property.