PROPERTIES

Wilbury Park, Hitchin SG4

Price£18,400,000

PDF DETAILS

Wilbury Park, Hitchin SG4

  • Price£18,400,000
  • Income£981,678
  • Yield5%
  • SectorIndustrial
  • StatusAvailable
PDF DETAILS

Unique Multi Let And Reversionary South East Industrial Estate With Numerous Asset Management Opportunities

Summary

  • Wilbury Park, a mixture of predominately industrial warehouse, workshop and studio accommodation.
  • Total GIA of 179,643 sq ft (16,689 sq m).
  • Low site coverage and very generous on site car parking. Site area of approximately 11 acres (4.45 hectares).
  • Multi-let producing an income of £981,678 per annum.
  • A WAULT of approximately 5.20 years until expiry (4.11 years to break).
  • Significant reversion based on a conservative ERV of approximately £1,367,653 pa (£7.60 psf overall).
  • Extremely low average rent of £5.46 psf across the whole estate.
  • Rental levels achieved in the surrounding towns substantially in excess of £10 psf, giving Wilbury Park significant scope to increase over and above the current conservative ERV levels.
  • We will be seeking offers in excess of £18.4m subject to contract and exclusive of VAT, reflecting a net initial yield of approximately 5% (after allowance for purchaser’s costs of 6.8%) reversionary to approximately 6.95% based on conservative overall ERV of £7.60 psf.