• Broker Antony Leech 2074955550
  • Broker Marcus Chuter 2074955550

Carew House Railway Appr 45,830 SF 83% Leased Office Building Wallington SM6 0DX $5,704,162 ($124.46/SF) 10% Cap Rate

View Photo

INVESTMENT HIGHLIGHTS

  • 101 car parking spaces reflecting a ratio of 1:456 sq ft.
  • Located on A237
  • Immediately Adjacent to Wallington Station

EXECUTIVE SUMMARY

- Multi-let office investment in close proximity to Wallington town centre, and adjacent to the mainline railway station.
- Let to two tenants – Royal Marsden NHS Foundation Trust and the Secretary of State for Communities and Local Government.
- Modern office accommodation totalling 46,090 sq ft (NIA) & 54,585 sq ft (GIA).
- 101 car parking spaces reflecting a ratio of 1:456 sq ft.
- All vacant floors have been refurbished.
- Long leasehold for a term of 125 years from 24th June 1982 at a current ground rent of £87,081.85 per annum (c. 83 years unexpired).
- Multi-let to two tenants, producing a total gross rental income of £539,936 per annum (£11.71 per sq ft overall).
- Net rental income rental income of £452,854.15 per annum.
- Once vacant floors are let the property would produce a net income of £786,487.15 per annum (on ERVs).
- WAULT of 3.60 years to breaks and 4.18 years to expiries on gross income.
- Quote price fully underpinned by alternative uses.

PROPERTY FACTS

Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
45,830 SF
Building Class
B
Year Built
1985
Price
$5,704,162
Price Per SF
$124.46
Cap Rate
10%
NOI
$570,416
Percent Leased
83%
Tenancy
Multiple
Building Height
6 Stories
Typical Floor Size
7,938 SF
Building FAR
3.90
Lot Size
0.27 AC
Parking
25 Spaces (0.54 Spaces per 1,000 SF Leased)

AMENITIES

  • 24 Hour Access
  • Signage
  • Reception

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • CONDITION
  • AVAILABLE
  • 4th Floor
  • 7,938 SF
  • Office
  • Partial Build-Out
  • Now
Railway Appr, Wallington for sale Interior Photo- Image 1 of 7
Interior Photo
Railway Appr, Wallington for sale Interior Photo- Image 2 of 7
Interior Photo
Railway Appr, Wallington for sale Interior Photo- Image 3 of 7
Interior Photo
Railway Appr, Wallington for sale Interior Photo- Image 4 of 7
Interior Photo
Railway Appr, Wallington for sale Interior Photo- Image 5 of 7
Interior Photo
Railway Appr, Wallington for sale Interior Photo- Image 6 of 7
Interior Photo
Railway Appr, Wallington for sale Interior Photo- Image 7 of 7
Interior Photo

The space on the fourth floor provides the following specification New VRF air conditioning, New LED lighting, New mineral fibre suspended ceiling, Double glazing, Raised floor, Fitted kitchenette, Male & female WCs.

Space Size Space Use Condition Available
4th Floor 7,938 SF Office Partial Build-Out Now

4th Floor

Size
7,938 SF
Space Use
Office
Condition
Partial Build-Out
Available
Now

MAP

ADDITIONAL PHOTOS

View Photo Building Photo
View Photo Building Photo

The LoopNet service and information provided therein, while believed to be accurate, are provided "as is". LoopNet disclaims any and all representations, warranties, or guarantees of any kind.