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Agent's details

Highly Reversionary Industrial Investment FOR SALE in South Ockendon

For sale: £2,250,000.00|17,111 Sq Ft|Industrial, Offices, Mixed use, General Industrial, Industrial Park, Light Industrial, Warehouse, Storage, Residential, Other Property Types & Opportunities

Property details

FOR SALE£2,250,000.00
SIZE17,111 Sq Ft
ADDRESS Aveley House, Arcany Road, South Ockendon, RM15 5SX
TYPEIndustrial, Offices, Mixed use, General Industrial, Industrial Park, Light Industrial, Warehouse, Storage, Residential, Other Property Types & Opportunities
TENUREInvestment Opportunity
POSTED ON9th November 2021

Description

Location
The property fronts Arcany Road, off Arisdale Avenue, a mixed use industrial and residential area less than a mile to the South of the Town Centre. Nearby occupiers include Next Distribution, Belmont Laundry and Store to Door Group. The A13 and M25 are approx. 2.7 and 5.4 miles away respectively. Ockendon Train Station provides a service to London (Fenchurch Street) in approx. 29 minutes.

The property
A self-contained terrace of six ground floor units with 1st floor offices at the East and West elevations. Each unit is of concrete portal frame construction with facing brickwork elevations with blockwork internally. The roofs of the single storey units are pitched corrugated asbestos with translucent panels whereas the offices have flat roofs.

The apex height of each unit is approx. 5.6m with an eaves height of approx. 4.0m. The units are separately metered for 3-phase power and mains water.

Externally, there is shared parking to the front and gated yards to the East and West boundaries.

A site plan is outlined overleaf for identification purposes only.

Accommodation The total approximate gross internal floor area (expressed sq ft/sqm) is as follows:

1,591 sq m (17,111 sq ft)

Please refer to the Tenancy Schedule for further information.

The site area is approx. 0.60 acre providing a site density of approx. 52%.

Tenure
Freehold for sale subject to the details shown on the attached Tenancy Schedule.

Proposal
£2,250,000 is sought for the freehold interest. A purchase at this level represents a Net Initial Yield of 4% and a Net Reversionary Yield of 7.5% allowing for costs of 5%. We understand that VAT is not payable.

Legal costs
Each party is to be responsible for the payment of their own legal costs incurred.

Energy Performance Certificate
In the process of being prepared.

Asbestos Survey
In the process of being prepared.

Money Laundering Regulations
Due to recent money laundering regulations, all Tenants and Purchasers when making an offer on a property will need to provide a copy of their current Passport photo page and a recent Utility Bill confirming their current address.

Agent’s Note
All figures are quoted exclusive of VAT.
No warranty is given in respect of the current planning use and none of the amenities or fixtures and fittings have been tested.
The site area has been calculated via Promap digital mapping and should be verified on site in due course.

Enquiries/viewing
Strictly by prior arrangement with sole agents Branch Associates on 01708 860696/ 07775 804842 or jb@branchassociates.co.uk Contact Johnathan Branch

Location

marker
Location: Aveley House, Arcany Road, South Ockendon, RM15 5SX

Upminster (3.4 miles)

Upminster Bridge (3.9 miles)

Hornchurch (4.1 miles)

Ockendon (0.5 miles)

Grays (3.0 miles)

Purfleet (3.2 miles)

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