Investment Consideration | - Established commercial estate well positioned for trade, industrial and distribution occupiers, offering excellent transport communications via the M20 and M2 motorways.
- Situated close to Sittingbourne town centre with extensive trade counter frontage.
- The property extends to 38,177 sq m (410,933 sq ft) on a site totalling approximately 27.9 acres providing a low overall site density of approximately 34%.
- Let to 38 tenants by way of 53 leases with an average income weighted unexpired term of 4.52 years to lease breaks and 5.96 years to expiries.
- Total rental income of £2,113,522 per annum (£5.29 psf).
- Extensive asset management opportunities to further enhance value.
- Offers sought in excess £28,500,000 (Twenty eight million five hundred thousand pounds) subject to contract and exclusive of VAT. This price reflects a net initial yield of 7.01% and a reversionary yield of 7.47% net of acquisition costs of 5.80%.
- The property is held in a Jersey based SPV which may be available to purchase, subject to negotiation. Assuming acquisition costs of 1.8% for a purchase of the SPV, the quoting price reflects a net initial yield of 7.28%.
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