- Strategic location in the heart of the well-established Medway City Estate, the dominant industrial and commercial centre locally.
- Freehold.
- Multi let to a national operator, and a local business which has been in occupation for over 27 years.
- Light industrial accommodation extending to 27,455 sq ft (2,550.68 sqm) GIA over two units.
- Similar sized, un-refurbished units have been letting in excess of £12 psf on the wider estate, a factor of constricted local supply and providing evidence of the strong reversionary potential.
- Total site area of 1.21 acres (0.49 ha) providing a low built site density of 43%.
- The investment produces a total net income of £235,260 p.a, reflecting a low average rent of £8.57 per sq ft, providing an excellent opportunity for rental growth.
- Attractive average weighted unexpired lease term of 4.8 years to break option and 7.4 years to lease expiries, providing short to medium term opportunities to drive income performance.
Offers are invited in excess of £3,400,000, subject to contract and exclusive of VAT.
A purchase at this level would reflect and Net Initial Yield of 6.50% after allowing for purchaser’s costs of 6.49%, and a low capital value of £124 per sq ft.
Please contact us or our joint agents at Altitude Investments to be added to the data room.
