Chaucer Clos 27,455 SF Industrial Building Rochester ME2 4LY $4,609,482 ($167.89/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Rare opportunity to acquire a reversionary multi let light industrial investment in Rochester, Kent
- Multi let to a national operator, and a local business which has been in occupation for over 27 years
- Similar sized, un-refurbished units have been letting in excess of £12 psf on the wider estate, a factor of constricted local supply
- Strategic location in the heart of the well-established Medway City Estate, the dominant industrial and commercial centre locally
- Light industrial accommodation extending to 27,455 sq ft (2,550.68 sqm) GIA over two units
- Total site area of 1.21 acres (0.49 ha) providing a low built site density of 43%
EXECUTIVE SUMMARY
Rare opportunity to acquire a reversionary multi let light industrial investment in Rochester, Kent.
Offers are invited in excess of £3,400,000, subject to contract and exclusive of VAT. A purchase at this level would reflect and Net Initial Yield of 6.50% after allowing for purchaser’s costs of 6.49%, and a low capital value of £124 per sq ft.
Offers are invited in excess of £3,400,000, subject to contract and exclusive of VAT. A purchase at this level would reflect and Net Initial Yield of 6.50% after allowing for purchaser’s costs of 6.49%, and a low capital value of £124 per sq ft.
PROPERTY FACTS
| Price | $4,609,482 |
| Price Per SF | $167.89 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 1.21 AC |
| Rentable Building Area | 27,455 SF |
| No. Stories | 3 |
| Year Built | 1995 |
| Tenancy | Single |
| Parking Ratio | 0.91/1,000 SF |
| No. Drive In / Grade-Level Doors | 2 |
AMENITIES
- Energy Performance Rating - C
- Automatic Blinds
- Demised WC facilities
CONTACTS
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Simon
Bennett
-
George
Turnbull
-
Rob
Atkins
-
George
Freeman
-
Alice
Edgedale
