110-112 Morden Road, Mitcham, LondonPosted on March 2, 2013
- 110-112 Morden Road Mitcham was the first sale for new client Croft Capital via administrators appointed by PWC.
- Given the busy south London location and low site density the multi let asset generated a broad range of interest from potential buyers.
- The 2.36 acre site hosts 3 buildings including 1 modern office & 2 industrial warehouses providing 39,068 sqft in total plus 19,309 sq ft of leased hard standing.
- Let to 4 tenants with a WAULT of 6 years to expiry, 3.2 years to breaks; with an average rent passing of £7.85 per sqft.
- Petchey Holdings completed the purchase in March 2013 at a price of £3.45m reflecting a NIY of 9.45% after costs.