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

Date: Q4 2020

Acting on behalf of a private client we advised on the sale of this value add industrial investment opportunity for £2.9m, reflecting a net initial yield of 5.00%.

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.

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