Carew House Railway Appr 45,830 SF 83% Leased Office Building Wallington SM6 0DX $5,749,825 ($125.46/SF) 10% Cap Rate

- 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.