Barking Business Centre | 25 Thames Road | Barking | London

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INVESTMENT SUMMARY

  • Extremely rare East London multi-let industrial holding offering immediate reversion and a very compelling residual underwrite.
  • Located in Barking within East London’s core ‘last mile’ zone.
  • Situated on Thames Road, offering immediate access to the A13 – the main arterial route into Central London from the east.
  • Thames Road borders Barking Riverside – one of London’s largest regeneration programmes.
  • The estate comprises 34 units totalling approximately 85,262 sq ft GIA.
  • Let to 19 tenants and offering an AWULT of 2.1 yrs to breaks and 3.0 years to expiries.
  • Reversionary passing rent of £10.72 psf GIA on let space, compared with recent evidence on the estate as well as prime East London rents of £15.00 – £25.00 psf.
  • Total passing rent of £972,334 per annum (£11.40 psf), assuming 12 month rental guarantees on the vacant units.
  • East London is predicted to benefit from continued strong rental growth as local
    housing targets continue to eradicate stock.
  • Extensive asset management opportunities from reletting recent voids to fullscale redevelopment (stp).
  • Freehold site of approximately 4.74 acres (1.92 ha), reflecting a very low London
    industrial site density of only 41%

 

We are instructed to seek offers in excess of £18,750,000 (eighteen million seven hundred and fifty thousand pounds), subject to contract and exclusive of VAT.

A purchase at this level reflects a 4.86% Net Initial Yield after allowing for purchaser’s costs of 6.74%. This represents a  low capital value of £220psf and very attractive land price of only £3.96m per acre.

 

For further information please contact Will Davies or Dan Grant.

 

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