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Industrial unit for sale

£905,000 15,065 sq ft

Caxtons Commercial Ltd
Contact name

Charlotte Laherty - Caxtons Commercial Ltd

Full address
New Rd, Sheerness ME12 1DB – Sheerness
Property type

Industrial unit for sale

Asking price
£905,000
Available space range
There is 1 space available. This measures 15,065 sq ft.
Features
Fenced lot, Roller shutters
Brochure
Download the brochure

Sale details

Sale unit 3916549 Available

15,065 sq ft, £60.07 per sq ft

Unit Sale unit 3916549
Address New Rd, Sheerness, Kent, ME12 1DB, GB
Size 15,065 sq ft
Price £905,000
Price per unit £60.07 per sq ft
Unit Sale unit 3916549
Address New Rd, Sheerness, Kent, ME12 1DB, GB
Size 15,065 sq ft
Price £905,000
Price per unit £60.07 per sq ft
Sale type Investment
Tenure Long leasehold
Net income yield 8.5%
Financial type Actual
Financial year 2018
Net operating income £76,925

Sale notes

  • Proposal our client is seeking offers in excess of £905,000 for the long leasehold interest in the property.
  • The quoting price therefore reflects a net initial yield on the current income of 8.5% (after ground rent and purchaser’s acquisition costs) and a potential reversionary yield of 10% on the prospective income in 2022..
  • Tenure our client is looking to sell their long leasehold interest in the property held for a term commencing 3rd april 1985 and expiring 1st april 2110 (approx.
  • 91 years unexpired) at a current rent of £5562 pa.
  • The rent is subject to three yearly rent reviews to a rent equal to 10% of the aggregate of the market rent of each unit on the property.
  • A copy of the head lease is available in the data room.
  • Please note that units 11, 12 and 13 are not included in the sale.

Property description

The property comprises a building of steel frame construction arranged over a single floor offering industrial accommodation within.

The property is located on New Road in an established industrial area on the outskirts of Sheerness. The location has good access to the A249 which connects to the M2 motorway.

Building subtype
Warehouse
Number of storeys
1
Rentable building area
15,065 sq ft
Year built
1980

Attachments

PDF #1 Marketing brochure/flyer Download

This industrial unit for sale is located in Sheerness.

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Disclaimer. Property descriptions, images and related information displayed on this page are based on marketing materials found on the website registered to Caxtons Commercial Ltd. Realla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact Caxtons Commercial Ltd for full details and further information.