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