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Asparagus Point A-H Asparagus Way 39,747 sq ft Industrial Property Evesham WR11 1GN £3,535,000 (£88.94/sq ft) 6.75% Net Initial Yield
Investment Highlights
- Modern steel portal frame construction
- Excellent motorway and regional connectivity
- Two secure service yards
Executive Summary
The property comprises a modern warehouse constructed in 2019 and is of steel portal frame construction with metal clad roof and elevations. Original plans were for the development to comprise an 8 unit industrial estate, however as a result of a pre-let to the tenant the unit is now occupied in its entirety with no dividing walls. This offers the benefit of future occupation by one or a range of users subject to insertion of internal walls and division of services. There are offices to the ground and first floors which are tenant alterations.
A purchase at this level would reflect a net initial yield of 6.75% and a very low capital value of £88.94 per sq.ft, assuming usual costs of purchase of 6.51%.
The property is single let to Online Home Retail Limited for a term of 10 years with effect from 01/11/2019, expiring on 31/10/2029. The current passing rent is £254,150 p.a. (£6.39 per sq.ft).
A purchase at this level would reflect a net initial yield of 6.75% and a very low capital value of £88.94 per sq.ft, assuming usual costs of purchase of 6.51%.
The property is single let to Online Home Retail Limited for a term of 10 years with effect from 01/11/2019, expiring on 31/10/2029. The current passing rent is £254,150 p.a. (£6.39 per sq.ft).
Property Facts
| Price | £3,535,000 | Total Plot Size | 2.47 ac |
| Price per sq ft | £88.94 | Net Internal Area (NIA) | 39,747 sq ft |
| Sale Type | Investment | No. Floors | 1 |
| Yield | 6.75% | Year Built | 2019 |
| Tenure | Freehold | Tenancy | Single |
| Property Type | Industrial | Parking Allocation | 0.51/1,000 sq ft |
| Property Subtype | Warehouse | No. Dock-High Doors/Loading | 2 |
| Costar Property Class | B | No. Drive In / Grade-Level Doors | 4 |
| Price | £3,535,000 |
| Price per sq ft | £88.94 |
| Sale Type | Investment |
| Yield | 6.75% |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Costar Property Class | B |
| Total Plot Size | 2.47 ac |
| Net Internal Area (NIA) | 39,747 sq ft |
| No. Floors | 1 |
| Year Built | 2019 |
| Tenancy | Single |
| Parking Allocation | 0.51/1,000 sq ft |
| No. Dock-High Doors/Loading | 2 |
| No. Drive In / Grade-Level Doors | 4 |
Amenities
- 24 Hour Access
- Bus Route
- Commuter Rail
- Courtyard
- Fenced Lot
- Front Loading
- Wheelchair Accessible
- Yard
- EPC - A
- Roller Shutters
- Air Conditioning
Utilities
- Lighting
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Asparagus Point | A-H Asparagus Way
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