Unit 1 & Unit 3, Buckingham House, Longfield Road, Tunbridge Wells, Kent, TN2 3EY

Opportunity to acquire a multi-let South East industrial investment

• Property specification

  • Two well specified warehouse/industrial units providing a total of 32,051 sq ft (2,977.70 sq m)
  • Self-contained site of 1.49 acres (0.603 hectares) / site cover 37%
  • Let to Sensia UK Ltd with a guarantee from Rockwell Automation Ltd (D&B rating 5A1) and Adler & Allan Ltd (D&B rating 5A2) providing a total income of £431,420 per annum / £14.68 psf overall (topped up)
  • An attractive WAULT of 5.3 years to breaks and 9.3 years to lease expiries
  • The site may have potential for alternative uses such as retail, trade, car dealership subject to planning
  • 78% of the income linked to RPI
  • We are instructed to seek offers in excess of £6,600,000 subject to contract and exclusive of VAT for our client's freehold interest, reflecting a capital value of £206 psf
  • A purchase at this level reflects a net initial yield of 6.13% on the topped-up rent of £336,420, a potential reversionary yield of 6.89% assuming RPI at 3.00% per annum, and an equivalent yield of 6.64%, assuming standard purchaser's costs of 6.42%
  • £6,600,000 / NIY 6.13%

• Description

  Opportunity to acquire a prime freehold South East warehouse/industrial investment in Tunbridge Wells