Industrial

315-317 Purley Way, Croydon CR0 4NU

 

Price: £2,680,000 - Initial Yield:4.95%

Date: Q3 2019

Acting on behalf of Eskmuir Properties we advised on the sale of this prime London trade counter investment to London Diocesan Fund for £2.68m, reflecting a net initial yield of 4.95% and a capital value of £266 per sq ft.

The property comprises two trade counter units totalling 10,068 sq ft and benefits from a highly prominent frontage on the renowned Purley Way (A23), the principal route from Central London to the M23, M25, Gatwick Airport and Croydon’s prime commercial Out of Town district. Multi let to two tenants including National Tyre Service Ltd (D&B 3A1) and Wolseley UK Ltd (D&B 5A1), the property generates a rental income of £140,825 p.a (average passing rent of £13.99 psf). The property benefits from an attractive AWULT of 9.6 years to expiry and 6.6 years to break. Both tenants have recently signed reversionary leases demonstrating their commitment to the building and location. There is longer term potential for future residential or commercial redevelopment of the site, subject to planning.

Contact

Simon Lewis

Tel: 020 7493 3330
Mob: 07831 527 960
slewis@lewisellis.co.uk

David Kos

Tel: 020 7493 3330
Mob: 07709 813267
dkos@lewisellis.co.uk

Fred Daeche-Marshall

Tel: 020 7493 3330
Mob: 07785741700
FDMarshall@lewisellis.co.uk


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