• Unique opportunity to acquire a multi-let light industrial investment in the Greater London urban conurbation.
• 15-minute drive time to J9 of the M25; access to the national motorway network and within 1-hour drive time of Central London.
• 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.
• Freehold.
• 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.

We are inviting offers in excess of £6,970,000 subject to contract and exclusive of VAT. A purchase at this level would reflect a Net Initial Yield of 5.25%, after allowing for purchaser’s costs of 6.65%. This reflects a low capital value figure of £197 per sqft.

When adopting a market rental value of £12.50 per sq ft on Unit A1 and the minimum RPI indexed increase on Unit A2, the potential reversionary yield increases to 5.85%.

SOLD