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Mill Court Oast Mill St 3,715 sq ft 100% Let Office Property East Malling ME19 6BU £900,000 (£242.26/sq ft)
INVESTMENT HIGHLIGHTS
- Office Investment For Sale.
- Semi-rural but accessible location.
- Attractive Oast conversion.
- 5 Minutes walk from East Malling station.
- Producing £77,235 per annum.
- £900,000 reflecting a 8.58% ARY.
- Picturesque setting on the Mill Pond.
EXECUTIVE SUMMARY
FREEHOLD OFFICE INVESTMENT -- FOR SALE -- Attractive converted Oast building within semi-rural location with generous car parking, but benefitting from excellent connectivity with junction 4 of the M20 within easy reach and East Malling Station within 5 minutes walk which has services to London Victoria in less than 1 hour. The offices offer two separate self-contained suites which are let out to two separate tenants, currently producing £77,235 per annum reflecting an ARY of 8.58%. The Ground Floor Offices (Unit 1) are currently let on a 6 year lease expiring August 2026 producing income of £32,235 per annum. The First Floor Offices (Unit 2) have been converted to a Yoga Studio and have been refurbished to a high standard to create open plan studio accommodation with newly installed wcs and kitchen. In addition there is reception area and meeting rooms / offices within the roundels. The first floor is let on a 6 year lease, expiring 11th April 2029 at a rent of £45,000 per annum. The entire property benefits from 19 car parking spaces.
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Size
3,715 sq ft
Costar Property Class
B
Year Built
1965
Price
£900,000
Price per sq ft
£242.26
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
1,858 sq ft
Plot ratio
0.35
Total Plot Size
0.24 ac
Parking
7 Spaces (1.88 Spaces per 1,000 sq ft Leased)
AMENITIES
- Commuter Rail
- Conferencing Facility
- Reception
MAJOR TENANTS
- TENANT
- INDUSTRY
- sq ft OCCUPIED
- RENT/sq ft
- LEASE END
- HML Andertons Limited
- -
- 1,540 sq ft
- -
- Sep 2019
| TENANT | INDUSTRY | sq ft OCCUPIED | RENT/sq ft | LEASE END | ||
| HML Andertons Limited | - | 1,540 sq ft | - | Sep 2019 |
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Mill Court Oast | Mill St
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