Income producing industrial open storage land

Property comprises of a 33.5-acre inner M25 West London strategic land site with 11.2 acres of prime income producing open storage land. The open storage land has been divided into 8 units ranging in size from 23,145 – 92,283 sq ft, which are accessed via a securely gated estate entrance and a central access road. The units provide fully-secure, self-contained units providing concrete or hardstand surfacing with 3-phase electricity and mains water supply. Unit 2, situated in the centre of the site, benefits from an open-sided warehouse building totalling 46,773 sq ft. Within the other units there are smaller, temporary buildings linked to each occupiers’ operations. The property is let to 6 open storage tenants, plus a telecoms mast operator producing a total income of £2,423,327 per annum. The rent is highly reversionary with an average overall rent of £5.35 per sq ft, but with 58% of the site currently let at less than £3.08 per sq ft. The latest letting achieved an inclusive rent of £9.25 per sq ft in June 2023, providing a proven reversion of 62% vs. the average overall rent and a proven reversion of +181% vs. the space let at less than £3.08 per sq ft.