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Tannery Road Industrial Estate 4 Industrial Properties Offered at £11,657,000 in Tonbridge
Executive Summary
Investment Summary:
¦ Urban multi let estate located in the centre of Tonbridge with significant future redevelopment potential.
¦ Tannery Road Industrial Estate benefits from excellent transport links, accessed directly via the A26 which in turn links to the A21 leading to Junction 5 of the M25.
¦ The Estate totals 59,748 sq ft and comprises 15 industrial units ranging from approx. 2,000 – 8,200 sq ft.
¦ Fully let to 11 tenants producing a total income of £715,256 per annum, equating to a low passing rent of £11.97 psf.
¦ Tenants include Royal Mail Group Ltd, Belron UK (t/a Autoglass) and Garden House Collections Ltd (t/a Neptune).
¦ Unexpired term of 3.86 years to expiries and 3.02 years to breaks.
¦ Significant future redevelopment potential – the site is identified
within the Tonbridge Local Plan for future residential development.
¦ Site area of approximately 2.8 acres providing a low site cover of 45%.
¦ Freehold.
Proposal:
Offers are invited in excess of £11,657,000 (Eleven Million Six Hundred and Fifty Seven Thousand Pounds), subject to contract and exclusive of VAT, reflecting a headline net initial yield of 5.75% assuming purchasers costs of 6.71%. This represents a low capital value of £195 psf.
¦ Urban multi let estate located in the centre of Tonbridge with significant future redevelopment potential.
¦ Tannery Road Industrial Estate benefits from excellent transport links, accessed directly via the A26 which in turn links to the A21 leading to Junction 5 of the M25.
¦ The Estate totals 59,748 sq ft and comprises 15 industrial units ranging from approx. 2,000 – 8,200 sq ft.
¦ Fully let to 11 tenants producing a total income of £715,256 per annum, equating to a low passing rent of £11.97 psf.
¦ Tenants include Royal Mail Group Ltd, Belron UK (t/a Autoglass) and Garden House Collections Ltd (t/a Neptune).
¦ Unexpired term of 3.86 years to expiries and 3.02 years to breaks.
¦ Significant future redevelopment potential – the site is identified
within the Tonbridge Local Plan for future residential development.
¦ Site area of approximately 2.8 acres providing a low site cover of 45%.
¦ Freehold.
Proposal:
Offers are invited in excess of £11,657,000 (Eleven Million Six Hundred and Fifty Seven Thousand Pounds), subject to contract and exclusive of VAT, reflecting a headline net initial yield of 5.75% assuming purchasers costs of 6.71%. This represents a low capital value of £195 psf.
Property Facts
| Price | £11,657,000 | Number of Properties | 4 |
| Price psf | £215.83 / sq ft | Individually For Sale | 0 |
| Yield | 5.75% | Total Property Size | 54,011 sq ft |
| Sale Type | Investment | Total Land Area | 5.80 ac |
| Status | Active |
| Price | £11,657,000 |
| Price psf | £215.83 / sq ft |
| Yield | 5.75% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Property Size | 54,011 sq ft |
| Total Land Area | 5.80 ac |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| Tannery Rd, Tonbridge TN9 1RF | Industrial | 22,775 sq ft | 1975 | - |
| Tannery Rd, Tonbridge TN9 1RF | Industrial | 12,596 sq ft | 1978 | - |
| Tannery Rd, Tonbridge TN9 1RF | Industrial | 9,423 sq ft | 1958 | - |
| Tannery Rd, Tonbridge TN9 1RF | Industrial | 9,217 sq ft | 1964 | - |
Contacts
-
John Adcock -
Charlie Spilsbury -
Jake Huntley -
Joe Dowley -
Dowley Turner Real Estate
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