TRANSPORT DEPOT, River Wharf

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Summary

PRIME SHORT TERM SALE & LEASEBACK DEVELOPMENT OPPORTUNITY 1.42 Acre Site with Detached Warehouse 10,950 Sqft Producing £250,000 pax Income

Description

The subject property comprises a low site coverage two-bay single-let warehouse together with ancillary offices and a secure, fully concreted yard. The warehouse itself comprises a two-bay single storey workshop unit with ground and first floor offices. The unit is of steel portal framed construction with a mix of brick and block elevations beneath a pitched roof. The unit benefits from a minimum eaves height of 6m, rising to 8m at the apex. There are three level access roller shutter doors. The offices are in good condition fitted with wood floors, ceiling mounted lighting and arranged to provide a mix of open plan and cellular offices, kitchen/canteen, and WCs. Externally the site is fully secured with perimeter palisade fencing to all boundaries and fully concrete surfaced. Within the yard there is a free standing driver’s welfare facility comprising showers, WC and a staff room

Location

Belvedere is an established industrial location in south east London, 13 miles east of Central London and 5 miles north west of Dartford. It is well located, 8.7 miles east of the Blackwall Tunnel and 5.7 miles west of J1A of the M25. The M2, M20 and M26 motorways are all located within 25 miles. The property is well served by rail services. Belvedere and Abbey Wood Mainline stations are situated 0.5 miles and 2.4 miles from the property, respectively. Abbey Wood will benefit from being a Cross Rail station, enhancing connections to Canary Wharf (11 mins), Bond Street (25 mins) and Heathrow (51 mins). London City Airport is approximately 7.3 miles to the east and London Gatwick Airport is approximately 40 miles south west. London Stansted and London Heathrow airports are situated 42 miles north and 60 miles west of Belvedere, respectively.

Terms

The property is to be 100% let to IKRA UK Ltd (Co. No. 05933250) by way of a sale and leaseback for a term of 3 years commencing on completion of the purchase. The lease will be subject to a tenant only rolling break option from the end of the 2nd year of the term, subject to 3 months’ notice. The initial rent will be £250,000 per annum which reflects approximately £12.00 psf on the building and £2.85 psf on the excess yard. The lease will be excluded from the Landlord & Tenant Act 1954 and will be subject to a Schedule of Condition. IKRA UK Ltd benefit from a D&B; rating of 1A3 They are an international freight services company who have been operating since 2006. They provide a full suite of services across Europe. Offers are invited in excess of £6,500,000 (Six Million Five Hundred Thousand Pounds) subject to contract for the freehold interest subject to the proposed leaseback.