INVESTMENT SUMMARY Greater London single let 15,525 sq ft (1,443 sqm) warehouse & office property with 22 car spaces. Situated on the established Hersham Trading Estate being some 4 miles from J10 of the M25 Let to Advanced Logistics for Aerospace (UK) Limited, (Dun & Bradstreet rating 2A 2 - lower than average risk), a wholly owned subsidiary of ALA SpA, an Italian Public Limited Company. Tenant holds a FRI 10 year lease from 25th March 2018 granted inside the Landlord & Tenant Act. A Tenants only break option on 25th March 2023, subject to no less than 6 months’ prior notice. One upward only rent review to market value on 25th March 2023. Passing rent of £155,250 per annum, reflecting £10.00 per sq ft overall. Site area of 0.36 acres which reflects a site cover of approx 59%. Freehold VAT elected. We understand the purchase can be treated as a Transfer of a Going Concern (TOGC). Reversionary rent and strong levels of occupational demand in the area, thereby providing excellent prospects for future rental growth.
DESCRIPTION The property comprises a detached 2-storey warehouse and office building constructed in the late 1950’s / early 1960’s. The warehouse is of a concrete frame with brick elevations under a pitched overclad roof. The exterior of the front of the building has been re-clad in an attractive steel cladding system.
TENURE The property is held Freehold. TENANCY The property is let in its entirety to Advanced Logistics for Aerospace (UK) Limited (company registration number 02265000), a wholly owned subsidiary of ALA SpA, an Italian Public Limited Company. The property is held on a full repairing and insuring lease for a term of 10 years from 25th March 2018, expiring on 24th March 2028. There is a Tenant’s only option to determine the lease at the fifth anniversary of the term, ie 25th March 2023, subject to no less than 6 months’ prior written notice. The lease has been granted inside the security of tenure provisions of the Landlord & Tenant Act 1954, part II, as amended. The current passing rent is £155,250 per annum (£10.00 per sq ft overall). The Tenant has been in occupation of the building since 1998. There is one upward only rent review on the 25th March 2023 to open market value.
1 Lyon Road, Hersham, Walton on Thames, Surrey KT12 3PU
The property comprises an attractive self-contained two storey office building constructed in the early 1990s. The main elevations are of yellow stock brick with double glazed aluminium windows under a pitched tiled roof with feature glazed bay windows to the front and rear of the building.
Internally, Rivendell Court offers good quality offices over two floors with male, female and disabled toilets and a fitted kitchen located on the ground floor and a further tea station on the first floor. The building is currently partitioned to provide a combination of open plan and cellular offices, a meeting room, server room and a storage area.
Externally, the building benefits from good on site parking with 3 visitor bays in front of the property and up to 20 further marked bays in a level tarmacked enclosed car park to the rear.
Raised floors throughout Suspended ceilings with recessed Category II lighting diffusers Gas fired central heating Double glazed windows Comfort cooled server room Some cooling cassettes to the offices (including boardroom) Three phase power Full carpeting to office areas Entry phone system Fitted kitchen with oven and dishwasher Male and female toilets Disabled WC/wet room with shower
The premises comprise an attractive detached two-storey office building set in its own grounds. The ground floor is divided into four separate offices plus a large open-plan ‘L’ shaped office area, a kitchen and male and female toilets. There are 3 further offices, a large kitchen and toilet and balcony on the first floor. Externally, there is a driveway providing parking for 4 cars which leads to a detached double garage providing useful storage or further parking for 2 cars. To the rear of the building is a well maintained garden, mainly laid to lawn bordered by established flower beds. The building is not listed or in an article 4 area so there is conversion or redevelopment potential, subject to planning.
AMENITIES UPVC double glazed windows Wood panelled Director’s suite Gas fired central heating Fully carpeted Fluorescent lighting Double glazed windows Kitchens on both floors Male and female WCs Attractive rear garden Double garage