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First Quarter, Blenheim Road, Epsom, KT19 9QN

28,550 sq ft (2,653 sq m)

Description

First Quarter was constructed in the late 1980’s and comprises 18 two-storey business units offering a mix of high quality offices and warehouse business space. The units are of steel portal frame construction with brick cavity walls and steel profiled cladding at first floor level. There are a total of 87 on-site car parking spaces, thereby providing an excellent ratio of 1 space per 328 sq ft.  
  • Unique opportunity to acquire a multi-let business space and industrial/warehouse investment in a key Greater London area.      
  • Strategically located close to J9 of the M25 with access to the national motorway network.          
  • A modern estate of 18 units totalling approximately 28,550 sq ft (2,652.4 sq m) GIA. 
  • Fully let to 16 tenants with an average weighted unexpired lease term of approximately 3.8 years and 2.0 years to breaks.
  • Current rental income of £497,792 per annum exclusive, equating to £17.44 per sq ft (£187.68 per sq m).
  • Recent lettings of Units 8 and 9 equate to £19.42 per sq ft with potential to increase the rent to £556,725 pa, i.e £19.50 per sq ft which reflects the current market rental value.
  • Site extends to 1.213 acres (0.491 hectares).
  • Let to a range of SMEs with tenants including Stulz UK, Trafag (UK) and Stego UK.
  • Freehold.
  • The property is elected for VAT.
  • Offers are invited in excess of £9,300,000 (Nine Million Three Hundred Thousand Pounds) for the freehold interest, subject to contract and exclusive of VAT.  A purchase at this level would reflect a net initial yield in the region of 5% after allowing for purchaser’s costs of 6.65%, with a capital value of £326 per sq ft.  When adopting market a rental value of £19.50 per sq ft, the potential reversionary yield increases to 5.6%.   

 


 

Viewing

Viewing strictly by prior appointment with the sole agent:

Bob Cattaneo

T: 020 8546 2166
E: Email Agent

Andrew Armiger

T: 020 8546 2166
E: Email Agent

Adam Soliman

T: 020 8546 2166
E: Email Agent

David Keates

T: 020 8546 2166
E: Email Agent

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