JLL Hotels & Hospitality Group are delighted to introduce the opportunity to acquire the Mercure Daventry Court Hotel.
JLL Hotels & Hospitality Group are delighted to introduce the opportunity to acquire the Mercure London Staines upon Thames.
Strategically Located Prime Multi-Let Industrial Investment Opportunity
Brucefield is one of Scotland’s largest industrial estates held under single ownership. Modern industrial units extending to a total floor area of 557,518 sq ft, with units ranging from 3,045 sq ft to 37,431 sq ft. Current passing rent of £1,792,789 per annum reflecting an average passing rent of £4.38 per sq ft. Currently 73% let to tenants including Deutche Windtechnik, PHS Group, EDF, Zonal, SCC, Diet Chef and Ashtead Plant Hire. Over £1 million spent on refurbishment and upgrading. Total site area of approximately 64.88 acres. Heritable (Scottish Equivalent of English Freehold).
Offers in excess of £19.16 million are sought, subject to contract and exclusive of VAT, for our client's heritable interest. A purchase at this price reflects the following yield profile, after purchaser's costs of 6.25%:
Net Initial Yield: 8.81%
Triple Net Initial Yield: 6.75%
Reversionary Yield: 12.38%
Equivalent Yield: 10.23%
Very Low Capital Value per sq ft: £34.36
Mixed Use Investment / Medium Term Development Opportunity
The site is located at the Ace of Spades roundabout adjacent to the A3 in an extremely prominent position. The roundabout is elevated above the A3 and provides access directly onto the northbound carriageway and A309 southbound. Access is also provided to Chessington via the A243, and Surbiton/Kingston to the north.
Additional DetailsData Room
A data room has been created containing various accompanying documents. Access to the data room can be requested via the agents.
UNIT TENANT AREA LEASE START LEASE EXPIRY RENT REVIEW CURRENT RENT P.A. Shell Garage Shell UK Ltd. 20/04/03 22/04/62 Peppercorn Unit A Bathstore 5,620 25/12/15 24/03/23 25/12/20 £65,000 Unit B DBIO limited 3,390 22/06/18 21/6/23 N/A £35,000 Unit C Stallards Gym Ltd 2,200 26/06/16 25/06/25 26/02/20 £18,000 Unit D Topps Tiles (Multi Tile Ltd.) 12,800 06/06/13 05/05/23 06/06/18 £90,000 TOTAL 42,010 £208,000 p.a.
The property is elected for VAT, and it is anticipated that the sale will be treated as a transfer of going concern. (TOGC)
Offers in excess of £3 million for this excellent medium term redevelopment opportunity. A purchase at this figure represents a net initial yield of 6.51%, assuming purchaser’s costs of 6.45%.