Chaucer House, 12 Viking Way, Erith, Kent DA8 1EWPosted on September 30, 2020
In September 2020 Clay Street completed the acquisition of this Greater London reversionary sale and leaseback industrial investment.
- Located in Erith, a core and established Greater London industrial location with the immediate road network providing easy access to Central London, the North and South Circular roads, the M25 and Docklands.
- Detached warehouse totalling c.35,629 sq ft GIA. It has a substantial car park and loading yard.
- The site extends to c.1.8 acres, with a low site coverage of c.42%.
- The property will be let to Mapeley Steps Limited on a lease expiring on 2 April 2021.
- The passing rent will be £320,664 pa, reflecting £9.00 per sq ft.
- The lease will be excluded from the security of tenure provisions of the Landlord and Tenant Act 1954. The tenant intends to vacate the property at lease end, providing an opportunity to refurbish and re-let.
The asset was acquired on behalf of a new, private equity backed, asset manager client for in excess of £6m. Gerald Eve advised the vendor Mapeley Steps.