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Star Ln 2,273 SF Flex Building Great Wakering SS3 0PJ $1,506,726 ($662.88/SF) 6.36% Cap Rate
Investment Highlights
- Investment
- Freehold
Executive Summary
Yard & buildings on a secure site of approx. 0.585 acres currently let to Sortera for use as a Transport Depot.
The site is let to Sortera for use as a Transport Depot. This occupation is by virtue of a 15-year lease expiring in 2038 which is subject to 5 yearly reviews and a current passing rent of £70,000 per annum.
Our clients own the site by way of four 999 year leases which were granted between June 1987 and July 2024 at a peppercorn rent. Offers in the region of £1,100,000 are now sought and we understand that our clients have an option to acquire the freehold and thereby sell on a freehold basis. We are advised that the property has been elected for VAT.
The site is let to Sortera for use as a Transport Depot. This occupation is by virtue of a 15-year lease expiring in 2038 which is subject to 5 yearly reviews and a current passing rent of £70,000 per annum.
Our clients own the site by way of four 999 year leases which were granted between June 1987 and July 2024 at a peppercorn rent. Offers in the region of £1,100,000 are now sought and we understand that our clients have an option to acquire the freehold and thereby sell on a freehold basis. We are advised that the property has been elected for VAT.
Property Facts
| Price | $1,506,726 | Building Class | B |
| Price Per SF | $662.88 | Lot Size | 0.32 AC |
| Sale Type | Investment | Rentable Building Area | 2,273 SF |
| Cap Rate | 6.36% | No. Stories | 1 |
| Tenure | Freehold | Year Built | 1933 |
| Property Type | Flex | Tenancy | Single |
| Property Subtype | Light Manufacturing |
| Price | $1,506,726 |
| Price Per SF | $662.88 |
| Sale Type | Investment |
| Cap Rate | 6.36% |
| Tenure | Freehold |
| Property Type | Flex |
| Property Subtype | Light Manufacturing |
| Building Class | B |
| Lot Size | 0.32 AC |
| Rentable Building Area | 2,273 SF |
| No. Stories | 1 |
| Year Built | 1933 |
| Tenancy | Single |
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- G.B.N Services Ltd
- -
- 2,273 SF
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| G.B.N Services Ltd | - | 2,273 SF | - | - |
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