Lordswood Industrial Estate, ChathamPosted on October 22, 2015
Clay Street successfully marketed this prime southeast multilet industrial estate.
- 8.75 acre site comprising 24 units which provide 135,307 sq ft of industrial and trade accommodation arranged over 3 terraces.
- Fully let to 14 tenants including Howden Joinery, Plumbase, Kent Flooring Supplies and RNR Performance Cars providing a total rent of £820,930 p.a.
- Weighted average unexpired lease term of 7.1 years to expiry and 3.8 years to break.
After a competitive bidding Kames Capital purchased the long leasehold interest in December 2015 for £12.375m reflecting a net initial yield of 6.27%.
The asset was initially placed on the market for £11.5m and attracted strong interest from a range of institutions.