Kingfisher Way, Hinchingbrooke Business Park

INVESTMENT FOR SALE MISSION CRITICAL WAREHOUSE/INDUSTRIAL FOOD PRODUCTION FACILITY

• Property specification

  • Prominently positioned warehouse/industrial food production facility on Hinchingbrooke Business Park, Huntingdon
  • Total GIA: 4,750 sq m (51,128 sq ft)
  • Site area of 1.41 hectares (3.48 acres) – low site cover of 28% based on the landlord’s area
  • The property is let to Kitchen Range Foods Limited on a 15 year lease expiring 28 March 2036 subject to a tenant break option in 2031, providing approximately 10 years unexpired and 5 years unexpired to break
  • The passing rent is £350,000 per annum (reflecting a low blend of £6.85 psf) subject to an OMV review on 29 March 2031
  • The property is highly reversionary with an ERV of £421,806 per annum (£8.25 psf)
  • The tenant has been in occupation of the premises since its construction in 1995 and is wedded to the location with extensive fitout including two cold stores totalling 9,341 sq ft. The tenant has recently expressed interest in extending the building further
  • The tenant is part of the multi-national and publicly listed company, JBS S.A. Group and the premises are critical to its ongoing activities
  • EPC C75
  • Virtual freehold interest
  • Offers are sought in excess of £4,690,000 subject to contract and exclusive of VAT. A purchase at this level reflects an attractive Net Initial Yield of 7.00% and a potential reversionary yield of 8.44%, assuming standard purchaser’s costs of 6.58% and a low capital value of £92 psf on the landlord’s area
  • New key point...