Industrial

Units 3-10 The Courtyard, 131 Aurelia Road, Croydon CR0 3BF

 

Quoting Price: £3,100,000 - Initial Yield:4.91%

Acting on behalf of a private client we are instructed to sell this value add industrial investment opportunity.

The property was redeveloped in c.1990 to provide a terrace of 8 self-contained industrial units extending to 16,207 sq ft (1,505.7 sq m) on a secure site. Single let to Dancesport International Limited from 29th September 2020 until 28th September 2030 (subject to a tenant break option after the sixth year and a rolling landlord break option) at an annual rental of £162,000 p.a (£10.00 psf).

There are various asset management angles to explore which could include obtaining vacant possession, refurbishing and re-letting on a multi let basis, thereby improving the rental income and performance of the asset. Longer term potential for future residential or commercial redevelopment of the site, subject to planning.

Offers sought in excess of £3,100,000 (Three Million and One Hundred Thousand Pounds) subject to contract and exclusive of VAT. This reflects an attractive net initial yield 4.91%, after deduction of purchase costs of 6.46%, equating to a capital value of £191 per sq ft.

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


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