PROPERTIES

Thistlebrook Industrial Estate, Abbey Wood, Greenwich SE2 9RB

Thistlebrook Industrial Estate, Abbey Wood, Greenwich SE2 9RB

  • Income£416,300
  • Yield3%
  • SectorIndustrial
  • StatusSold

85 Year Ground Rent Leasehold Investment to The London Borough of Greenwich

Summary

  • Well located industrial estate in Abbey Wood, within the London Borough of Greenwich.
  • Situated 500m to the north of Abbey Wood Train Station which is to be the south eastern terminus of Crossrail.
  • Comprising a terrace of eight adjoining industrial units on a c.2.51 acre site and providing an approximate GIA 0f 60,400 sq ft.
  • Entirely let on an underlease to The Mayor and Burgess of The London Borough of Greenwich on a full FRI lease, for a term expiring 9th November 2104 (84.8 years unexpired).
  • 5 yearly rent review pattern with the next review on 20th November 2024.
  • Passing rent of £416,300 per annum, reflecting £6.89 psf (reflecting a headline rent of £9.93 psf before deductions) which is very low in the context of the London market.
  • Prime South East London industrial showing quoting rents of £15-20 psf.
  • Strong future rental growth potential based on London industrial forecasts.
  • Held leasehold from the Mayor and Burgess of The London Borough of Greenwich until 19th November 2014.