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222 Cray Av 15,227 sq ft Retail Property Orpington BR5 3PZ £4,740,000 (£311.29/sq ft) 6.25% Net Initial Yield
Executive Summary
Freehold car dealership in a prominent corner position on Cray Avenue, Orpington, totaling 17,469 sq ft on a 1.27-acre site with 157 parking spaces. Let to Brayleys Cars Ltd with AGA to Honda Motor Europe on a 22-year lease from Oct 2014, with RPI-linked increases. Current rent £316,330 p.a. Offers sought in excess of £4.74M, reflecting 6.25% NIY and a reversionary yield of 7.60% in Oct 2027.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Car Dealership
Property Size
15,227 sq ft
Costar Property Class
B
Year Built
2014
Price
£4,740,000
Price per sq ft
£311.29
Yield
6.25%
NOI
£296,250
Tenancy
Single
Number of Floors
2
Plot ratio
0.27
Total Plot Size
1.28 ac
Frontage
183 ft on Cray Avenue
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Nearby Major Retailers
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222 Cray Av
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