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Prime London industrial investment

Croydon, United Kingdom

84%

£12.030.000

Industrial

#16811

Core+

2 Nov 2024

Property Details

Broker

For sale

47,952 sq.ft.

4,455 m²

GIA

250 £/sq.ft.

2,700 £/m²

5.15 %

2

Freehold

X

Fees

0.00 %

0.40 %

0.00 %

0.40 %

Investment Overview

Extremely rare opportunity to acquire a prime London industrial investment. Absolute prime logistics / trade location in Croydon, a key commercial centre in London with strong occupational demand and very low vacancy rates. The property has excellent road frontage to, one of London’s premier arterial roads. The property comprises two high quality warehouses with selfcontained yards, totalling approximately 47,952 sq ft (GIA). The total site comprises approximately 2.57 acres (1.04 ha). The property is fully-let to two strong tenants benefitting from a long WAULT of 8.3 years to lease expiries and 5.9 years to lease breaks. The marketing rent is £661,086 per annum, reflecting a very low average £13.79 per sq ft overall. The property is highly reversionary with rents in the area achieving c.£20.00 per sq ft. The property is surrounded by retail warehouse, trade counter and last mile logistics. Occupiers in the vicinity include IKEA, Amazon and DHL. Quote price is substantially underpinned by land value