Units 2 & 3 Hook Rise South, Chessington, London 

Date: Q2 2019

Acting on behalf of the Milton Group we advised on the sale of this reversionary south west London industrial investment to Prologis for £6.18m, reflecting a net initial yield of 4.6%.

The property extends to 23,815 sq ft on a site of 1.33 acres and comprises two adjoining warehouse units, which form part of the Hook Rise commercial area adjacent to the A3. Both units were refurbished in 2016 at a cost of £430,000 (£18.00 per sq ft). The units are let to Bishops Move and Carpetright, providing an attractive AWULT of 7.45 years to expiry (5.67 years to break) at a total rental income of £292,000 p.a, reflecting a low average passing rent of £12.26 psf.

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