The property comprises a detached warehouse/industrial building with a 3 storey office building to the front that has been comprehensively refurbished to a high standard and is linked to a newly constructed steel frame warehouse to the rear. The entire building is clad in distinctive new profile steel panelling.
The ground floor provides a fully open plan office/reception area which is approached via double glazed aluminium framed entrance doors with a security roller shutter. There is a disabled WC on this floor which incorporates a shower cubicle.
The first floor is partitioned to provide a boardroom and large open plan office as well as high quality male and female toilets.
The second floor is largely open plan with laminate wood flooring and LED spot lighting throughout. This floor has excellent natural light and enjoys views over the estate. It also has a good quality fully fitted kitchen.
The ground floor is linked via a pedestrian door to the recently constructed warehouse which is of a steel frame construction with profile steel cladding to all elevations. This sits under a pitched steel roof with 120mm Kingspan insulated panels beneath. There are clear Perspex panels incorporated at regular intervals providing very good natural light.
The warehouse has excellent eaves height with an apex height of 28’1” (8.57m) and minimum height to underside of haunch of 23’7” (7.25m).
There is a full height electric roller shutter loading door to the side of the warehouse.
Externally, there is a large tarmacked forecourt which provides for off road deliveries and visitor parking. There is a gated driveway to the right hand side of the building which provides access to the loading bay and also a tarmacked rear yard which provides parking for 8 vehicles and is fully enclosed by a metal palisade fence and has lighting, CCTV and a Tesla rapid charge point.
- A recently refurbished and part newly built industrial/warehouse building with offices totalling 9,614 sq ft (893.1 sq m).
- Located on the long established Hersham Trading Estate.
- Good proximity to Hersham mainline railway station (with a good service to central London), J10 & J11 of the M25 and J1 of the M3 motorways.
- Let to The Cavan Bakery Limited who have been trading for 93 years.
- Let on a new FRI lease for a 20 year unbroken term.
- Passing rent £149,000 per annum exclusive, equating to £15.50 per sq ft.
- Good future rental growth prospects with general lack of supply in the area.
- Site area of 0.37 acres (0.15 hectares).
- Offers in excess of £3,850,000 (Three Million Eight Hundred and Fifty Thousand Pounds).
- A purchase at this level would reflect a net initial yield of 3.61% assuming purchase costs of 6.75%.
Freehold investment sale.
We are instructed to seek offers in excess of £3,850,000 (Three Million Eight Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT.
A purchase price at this level would reflect a net initial yield in the region of 3.61%, assuming purchasers costs of 6.75%, or a capital value at £400 per sq ft.
We have been advised that the building is elected for VAT so this will be applicable to the sale price, unless the sale can be treated as transfer of a going concern (TOGC).
|2nd Floor Offices
||905 sq ft - 84 sq m
|1st Floor Offices
||902 sq ft - 84 sq m
|Ground Floor Office/Reception
||902 sq ft - 84 sq m
|Ground Floor Warehouse/Workshop
||6,905 sq ft - 642 sq m
9,614 sq ft
(894 sq m)
The property is located in the centre of the well established Hersham Trading Estate surrounded by trade counters such as Screwfix, Toolstation, Howdens, Travis Perkins and Tesco Express.
Hersham mainline railway station is within 200 yards of the building, offering a fast and frequent service to London Waterloo with an approximate journey time of 28 minutes. Access to the national motorway network is available via the A3 to junction 10 of the M25 or junction 1 of the M3. The A3 and A316 both offer direct access into central London.