Industrial Investment For Sale - £695,000 - 6.5% rising to 10.8% gross.

Units 1-5 , Cooting Road, Aylesham, Kent, CT3 3EP

Cooting pic

Location

Situated on the established Aylesham estate 8 miles from Canterbury with easy access to the dualled A2 London to Canterbury and Dover road.

Description

A multi-let industrial investment in three sections on a site of 0.55 acre (24,000 sqft). The buildings are all of portal frame construction, asbestos cement roofs and brick or profiled steel cladding. Roller shutter doors. 3 phase power. 24 hour usage.

Accommodation

13,842 sqft producing £45,468 pa rising with fixed increases to £48,768 pa and an estimated market rental value with vacant possession of £75,000 pa (£5.50 psf).

Unit 1
Fudge Kitchen Limited www.fudgekitchen.co.uk
3,500 sqft
£13,776 rising to £14,276 in Jan 2023, expires Jan 2025.
Tenant’s break option 24 Jan 2020.

Unit 2
French Chateaux Limited
2,125 sqft
£6,000 rising to £6,500 Jan 2023, expires Jan 2025.
Tenant’s break option 24 Jan 2020.
Tenant Intends lease assignment to Fudge Kitchen of unit 1.

Unit 3
Globe Photo Inc. www.globephotos.com
2,125 sqft
£7,800. Expires Aug 2022.
Tenant’s break option 31 Aug 2021 on 3 months’ notice.

Unit 4
A Signs & Embroidery Limited www.asignsandembroidery.co.uk
2,145 sqft
£7,392. Expires May 2022
Tenant’s break option 15 May 2020 on 3 months’ notice.
Rent deposit of £2,018 held.
Tenant has requested a lease extension.

Unit 5
Audi Tech Limited www.audi-tech.com
3,947 sqft
£10,500 rising to £12,800 July 2020, expires June 2024.
Rent deposit £2,700 held

Total area 13,842 sqft £45,468 pa (£3.30 psf overall).

Fixed increases to £48,768 and an estimated open market
rental value with vacant possession of £75,000 (£5.50 psf).

Standard Law Society leases. Copies available in PDF format.

Terms

Fully let investment for sale freehold at offers over £695,000 plus vat, subject to contract reflecting a gross initial yield of 6.5% rising to an estimated 10.8%, £50.20 per sqft overall.