Log In/Sign up
Your email has been sent.
Wickes Foster Rd 28,029 sq ft Retail Property Sevington TN24 0SH £6,270,000 (£223.70/sq ft) 6.50% Net Initial Yield
Investment Highlights
- Close to local amenities
- Open plan
- High ceilings
Executive Summary
The property comprises a prominent freehold retail warehouse investment in Ashford, Kent, let to Wickes Building Supplies Limited. The unit extends to approximately 27,834 sq ft GIA on a site of 1.7 acres (0.7 hectares) and benefits from an open A1 non-food planning consent. The asset is strategically located off the busy A2070 dual carriageway, providing direct connectivity to the M20 motorway within a two-minute drivetime, and is situated adjacent to Ashford Retail Park, the town’s principal retail destination. Ashford is a densely populated market town with a 15-minute drivetime catchment of over 110,000 people, with further significant regeneration underway including approximately 10,000 new homes within a 10-minute drivetime.
The property is let in its entirety to Wickes Building Supplies Limited, a Very Low Risk rated national multiple, which has been in occupation for over 35 years and recently invested circa £1.2 million into store refurbishment, demonstrating long-term commitment to the site. The lease was regeared in 2023 to provide a term certain of 10 years, expiring in June 2033, with an upwards only open market rent review in 2028, subject to a cap of £504,722.49 per annum. The passing rent is £434,500 per annum, reflecting a low £15.61 per sq ft. The asset is offered at a quoting price of £6,270,000, reflecting a net initial yield of 6.50% after allowing for usual purchaser’s costs.
The property is let in its entirety to Wickes Building Supplies Limited, a Very Low Risk rated national multiple, which has been in occupation for over 35 years and recently invested circa £1.2 million into store refurbishment, demonstrating long-term commitment to the site. The lease was regeared in 2023 to provide a term certain of 10 years, expiring in June 2033, with an upwards only open market rent review in 2028, subject to a cap of £504,722.49 per annum. The passing rent is £434,500 per annum, reflecting a low £15.61 per sq ft. The asset is offered at a quoting price of £6,270,000, reflecting a net initial yield of 6.50% after allowing for usual purchaser’s costs.
Property Facts
Sale Type
Investment
Property Type
Retail
Tenure
Freehold
Property Subtype
Standalone
Property Size
28,029 sq ft
Costar Property Class
B
Year Built
1990
Price
£6,270,000
Price per sq ft
£223.70
Yield
6.50%
NOI
£407,550
Tenancy
Single
Number of Floors
1
Loading Docks
1 Exterior
Plot ratio
0.37
Total Plot Size
1.76 ac
Parking
120 Spaces (4.31 Spaces per 1,000 sq ft Leased)
Frontage
339 ft on Foster Rd
Amenities
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
- Storage Space
- Air Conditioning
- Smoke Detector
1 1
Nearby Major Retailers
1 of 4
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Wickes | Foster Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.