We are instructed to seek offers of £6,216,000 (six million two hundred and sixteen thousand pounds), subject to contract and exclusive of VAT, reflecting a NET Initial Yield of 5.00% allowing for the usual purchasers costs of 6.63%
Summary
Investment Summary
1. Freehold
2. Located in well established industrial district
3. Direct acces to the A40 Western Avenue leading to Central London, Heathrow and the motorway network
4. Distribution centre with high quality offices
5. Totalling 26,542 Sq Ft (2,466 Sq M)
6. Producing a total annual rental of £331,400 per annum reflecting £12.49 per sq ft
Property Type
Investment / Industrial / Warehouse / HQ Distribution Centre
Tenure
Freehold sale of the asset subject the tenancies listed in the tenancy schedule.
Price
We are instructed to seek offers of £6,216,000 (six million two hundred and sixteen thousand pounds), subject to contract and exclusive of VAT, reflecting a NET Initial Yield
of 5.00% allowing for the usual purchasers costs of 6.63%.
There may also be a possibility of puchasing the property via the shares of an SPV which will substantilly reduce the purchasers costs.
Location
South Ruislip forms part of Ruislip within the London Borough of Hillingdon, some 14 miles north-west of Central London. The area benefits from excellent communications with London Underground services (Piccadilly, Central and Metropolitan
Lines) serving the area from South Ruislip and Ruislip Manor underground stations. The A40 dual carriageway is within 1 mile leading into Central London, M40, M25 and the wider motorway network. The recent redevelopment of the former
Express Dairy Site on Victoria Road includes a new Asda Superstore, Aldi, B&M Home Stores, multi-screen cinema complex and several well-known restaurants.
Situation
The property is located on the well-known Braintree Industrial Estate accessed from on Braintree Road which is located on the south west side of Victoria Road midway between South Ruislip and Ruislip Gardens underground stations (Piccadilly,
Central and Metropolitan Lines). The Estate is easily accessible to the A40 Western Avenue at the Polish War Memorial junction which in turn leads to Central London to the east and M40, M25 and the wider motorway network to the west.
Description
The subject premises comprise a detached, modernised, steel portal framed storage/ distribution facility constructed of brickwork elevations to a double pitched rood. Access to the ground floor warehouse is available via three electric roller shutter loadings doors. The warehouse area is of a clear open-plan configuration. A small mezzanine floor has been added to create further storage space. Grade A specification office accommodation is situated within a dedicated three storey section attached to the front elevation of the building. Allocated parking is available to the front elevation of the building.
Accommodation
|
|
|
|
|
|
All measurements are approximate and measured on a gross internal area basis
|
| Ground Floor Warehouse & Office |
19,850 sqft |
1,844.13 sqm |
|
| Mezzanine Storage |
912 sqft |
84.73 sqm |
|
| First Floor Offices |
4,480 sqft |
416.21 sqm |
|
| Second Floor Offices |
1,300 sqft |
120.77 sqm |
|
| TOTAL |
26,542 sqft |
2,465.83 sqm |
|
| Site Area approx: |
0.50 acres |
0.20 hectares |
|
Amenities
Grade A Offices
- Access control to every suite
- LED lighting
- High quality WCs and staff canteens
- Air conditoned comfort cooling
- Server room with CAT 5 infrastructure
- Open-plan and executive office suites
- Multiple boardrooms
- Red Care security
Warehouse
- 5m clear eaves height
- 3 x electric loading doors
- Concrete floor
- LED lighting
- Translucent roof panels
- 3 phase power and gas supply
- Allocated car parking spaces
Tenancy
The property is let to Magnum Brands Ltd for a term of 10 years from 11 October 2019.
Cornerstone Telecommunications Infrastructure Ltd has a lease for a telecommunication mast as listed within the tenancy schedule.
Covenant Profile
Full company reports available upon request.
Gross Annual Income
Producing a total annual rental of £331,400 per annum reflecting £12.49 per sq ft
Net Yield
5% allowing for the usual purchasers costs of 6.63%
VAT
We understand the property has been elected for VAT.
Legal Costs
Each party to bear their own legal costs.
Misrepresentation
Telsar Ltd and its joint agents, give notice that these particulars are set out
as a general outline only for the guidance of intending Purchasers or Lessees, and
do not constitute any part of an offer or contract. Details are given without any
responsibility and any intending Purchasers, Lessees or Third Parties should not
rely on them as statements or representations of fact, but must satisfy themselves
by inspection or otherwise as to the correctness of each of them. No person in the
employment of Telsar Ltd or its joint agents, has any authority to make any representation
or warranty whatsoever in relation to this property. All rentals and prices are
quoted exclusive of VAT.