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Star Ln 2,273 sq ft Light Industrial Property Great Wakering SS3 0PJ £1,100,000 (£483.94/sq ft) 6.36% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Investment
- Freehold
EXECUTIVE SUMMARY
Yard & buildings on a secure site of approx. 0.585 acres currently let to Sortera for use as a Transport Depot.
The site is let to Sortera for use as a Transport Depot. This occupation is by virtue of a 15-year lease expiring in 2038 which is subject to 5 yearly reviews and a current passing rent of £70,000 per annum.
Our clients own the site by way of four 999 year leases which were granted between June 1987 and July 2024 at a peppercorn rent. Offers in the region of £1,100,000 are now sought and we understand that our clients have an option to acquire the freehold and thereby sell on a freehold basis. We are advised that the property has been elected for VAT.
The site is let to Sortera for use as a Transport Depot. This occupation is by virtue of a 15-year lease expiring in 2038 which is subject to 5 yearly reviews and a current passing rent of £70,000 per annum.
Our clients own the site by way of four 999 year leases which were granted between June 1987 and July 2024 at a peppercorn rent. Offers in the region of £1,100,000 are now sought and we understand that our clients have an option to acquire the freehold and thereby sell on a freehold basis. We are advised that the property has been elected for VAT.
PROPERTY FACTS
| Price | £1,100,000 | Costar Property Class | B |
| Price per sq ft | £483.94 | Total Plot Size | 0.32 ac |
| Sale Type | Investment | Net Internal Area (NIA) | 2,273 sq ft |
| Yield | 6.36% | No. Floors | 1 |
| Tenure | Freehold | Year Built | 1933 |
| Property Type | Light Industrial | Tenancy | Single |
| Property Subtype | Light Manufacturing |
| Price | £1,100,000 |
| Price per sq ft | £483.94 |
| Sale Type | Investment |
| Yield | 6.36% |
| Tenure | Freehold |
| Property Type | Light Industrial |
| Property Subtype | Light Manufacturing |
| Costar Property Class | B |
| Total Plot Size | 0.32 ac |
| Net Internal Area (NIA) | 2,273 sq ft |
| No. Floors | 1 |
| Year Built | 1933 |
| Tenancy | Single |
MAJOR TENANTS
- TENANT
- INDUSTRY
- sq ft OCCUPIED
- RENT/sq ft
- LEASE END
- G.B.N Services Ltd
- -
- 2,273 sq ft
- -
- -
| TENANT | INDUSTRY | sq ft OCCUPIED | RENT/sq ft | LEASE END | ||
| G.B.N Services Ltd | - | 2,273 sq ft | - | - |
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