Units A1 & A2 Epsom Business Park & Unit D Surrey Business Park, Epsom, SurreyPosted on August 11, 2019
In August 2019 Clay Street advised on the sale of this Greater London multi-let light industrial Investment on behalf Aviva Investors.
- Long established and thriving commercial area home to numerous national occupiers including Wickes, Halfords, Sainsbury’s, Toolstation, Mercedes-Benz Nissan and Peugeot.
- Well specified, regular shaped units providing 35,381 sq ft (3,287 sq m) GIA of light industrial and trade counter accommodation.
- Attractive average weighted unexpired lease term of 8.3 years to expiries and 5.7 years to break option, secured against strong international and regional covenants of Mercedes-Benz Retail Group (UK) Ltd, Fresenius Medical Care Renal Services Ltd and Wilsons (Epsom) Ltd.
- Total passing rent of £390,244 per annum, reflecting a low average rent of £11 per sq ft providing an excellent opportunity for rental growth.
The property was sold to Capital Industrial with Griffiths Eccles and DTRE acting. The transaction concluded at £7,300,000 reflecting a NIY of 5.05%.