Commercial property
Sold
South East Modern Office Investment: 200 Eureka Business Park, Upper Pemberton, Ashford, Kent

Investment for sale
£2,284,000 / NIY 8.50%
Summary
  • Ashford is an affluent, well located south east town, situated 54 miles south east of London on junction 9 of the M20 motorway with Ashford
  • International train station providing high speed rail links to both London and Europe
  • Eureka Business Park is an established business park location, situated 1 mile north west of junction 9 of the M20 motorway and 3 miles north west of Ashford town centre and Ashford International train station
  • Buildings 200 & 210 were constructed in 2012 to provide two detached self contained, high specification, air-conditioned offices
  • Total net internal floor area of 2,414.16 sq m (25,985 sq ft) with 92 car spaces providing an attractive car parking ratio of 1:282 sq ft
  • Let to two tenants with a D&B ratings of 5A1 (building 210) and 2A1 (building 200) - expiries in 2024 and 2027 respectively
  • (AWULT of 6.6 years to expiry)
  • Total income of £503,181 per annum exclusive (£19.36 psf overall) plus additional car parking income of £10,913 per annum (building 210)
  • Building 200 rent is subject to one fixed uplift in August 2022
  • Offers are sought either individually or together, on the following basis (based on normal acquisition costs but inclusive of costs of stamp duty on VAT), subject to contract and exclusive of VAT:-

 

Building 200 £2,284,000 (purchaser's costs of 7.34%)
NIY 8.50% rises to 9.12% in 2022 (fixed uplift)

Building 210 £3,226,000 (purchaser's costs of 7.47%)
NIY 8.50% (8.82% including additional car parking income)

TOTAL: £5,510,000 (purchaser's costs of 7.61%)
NIY 8.50%
RY 8.92% (in 2022 and including additional car parking income)

 

Done
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