Phase 300
Centennial Park, Elstree, WD6 3TJ
£22,400,000.00
Ref No. 8057
For Sale

Location Centennial Park, Elstree, WD6 3TJ, , London: North West

Size 112214.00 ft2
(10425.03 m2)

Description Prime Greater London Investment Opportunity

Investment Summary

  • A rare opportunity to acquire a strategically located prime multi let industrial investment in a core London location.
  • One of the most accessible industrial parks to the motorway network, adjacent to the M1 Motorway (Junction 4) and within a 5 minute drive time of the M25 (Junction 21).
  • The estate adjoins the A41 / A5 providing direct access into Central London 12 miles to the south.
  • Centennial Park, constructed in 6 phases, comprises a total of 535,000 sq ft built stock in 67 buildings and a 120 bed De Vere Hotel with superb amenities.
  • Phase 300, one of the most modern phases, was constructed in 2002 and provides versatile production, storage and business space.
  • 12 high quality high-office content warehouse units totalling 112,214 sq ft with unit sizes ranging from 4,780 sq ft to 16,115 sq ft.
  • A 6.85 acre site, providing a low site density of 37% set in a safe, secure and high quality landscaped environment.
  • Attractive car parking ratio of 1:402 sq ft with separate yard / loading areas and overall excellent site circulation.
  • Fully let to 9 tenants with an AWULT of 4.20 years to expiry and 2.90 years to break with strong occupancy history.
  • Passing rent of £1,432,845 per annum, reflecting only £12.77 psf with a number of active management initiatives to drive the rental tone and improve the unexpired term.
  • The tenants have invested significant capital expenditure demonstrating strong commitment synonymous with R&D, bio-tech and IT occupiers.
  • Since 2009 the estate has had 20 leasing events with a retention rate of close to 100%.
  • The property has been fully let since 2014 and is now optimally positioned to capture record prime rents over upcoming lease events.
  • 97% occupancy (by area) on the industrial core across the wider park with only 1 available unit.
  • We are instructed to seek offers in excess of £22,400,000 (Twenty Two Million Four Hundred Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect a Net Initial Yield of 6.00% and a capital value of £200 psf assuming normal purchaser’s costs of 6.75%.

Property Type Industrial/logistics

Average Weighted lease length 2.90 years to break

Initial Yield 6.00%

Property Location:



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