Unit 9-12, Heron Trading Estate, Alliance Road, Park Royal , W3 0RA, Greater London, London
- Strategically located on the southern edge of Park Royal, Europe’s largest industrial area.
- The property is excellently situated off the A40 Western Avenue and the A406 (North Circular Road), providing quick links to Central London and the national motorway network.
- The property provides approximately 6,528 sq m (70,269 sq ft) of gross internal accommodation.
- Site area of 1.68 acres (0.68 hectares).
- Let to Black Island Studios Ltd for a term expiring 28 September 2023 (8.7 years) with a tenant only break option on 23 June 2018 (3.4 years).
- Passing rent of £499,850 per annum, providing a low average rental level of £7.82 psf with half rent on the loading areas.
- Signififi cant redevelopment opportunity in a prime London location subject to vacant possession and the necessary planning consents.
- We have been instructed by our client to seek offers in excess of £5,905,000 (Five Million Nine Hundred and Five Thousand Pounds) subject to contract and exclusive of VAT. This refl ects a net initial yield of 8.00% after deducting purchasers’ costs of 5.80% and a low capital value of £84 per sq ft.