Compton Place Business Centre - Surrey Avenue, Camberley, Surrey, GU15 3DX High Yielding South East Multi Let Industrial / Workshop Investment ...
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Compton Place Business Centre Surrey Avenue, Camberley, Surrey, GU15 3DX High Yielding South East Multi Let Industrial / Workshop Investment
A30
Domain Road
Compton Place
Business Centre Surrey Avenue
Compton Place Business Centre
Surrey Avenue, Camberley, Surrey, GU15 3DX
2
INVESTMENT SUMMARY
t Located in Camberley, a key industrial corridor for the south east with direct access t Established ERV of £12.50 per sq ft, showing strong potential for
to the M3 Motorway. further rental growth.
t A multi let two storey industrial / workshop estate situated just a few minutes drive t Freehold.
from the A30.
t Potential industrial / residential redevelopment opportunity, subject to
t Comprising 20 fully let self contained units providing a total floor area of 15,043 sq ft. necessary planning consents.
t Majority of units benefit from business rates relief due to small unit sizes. t Offers in excess of £1,838,000 (ONE MILLION EIGHT HUNDRED AND
THIRTY-EIGHT THOUSAND POUNDS).
t The property benefits from excellent tenant retention.
t Net Initial Yield of 8% after allowance for purchaser’s costs of 6.22% and
t Total rent of £156,151 per annum reflecting a low average passing rent of £10.38 per sq ft.
a potential reversionary yield of 9.63%
t Low capital value of £122 per sq ft.
Compton Place Business Centre
Surrey Avenue, Camberley, Surrey, GU15 3DX
3
CAMBERLEY
Camberley is an affluent commuter town and commercial centre at the border of Hampshire,
Berkshire and Surrey in the Blackwater Valley. The town is located approximately 18 miles
(28.8 km) south east of Reading, 5 miles (8 km) north of Farnborough, 18 miles (28.8km) east of
Basingstoke and 34 miles (54.4 km) south west of London.
Road communications in Camberley are excellent with the town well connected with major
roads to include the A30 and the A331. Junction 4 of the M3 serves the town connecting
Camberley to London and the wider UK motorway network.
Rail links in Camberley are excellent with the town strategically located in close proximity to a
number of mainline stations include Blackwater Station, Camberley Station, Frimley Station and
Farnborough. Each station provides regular direct services to London with a fastest journey CAMBERLEY
time of approximately 1 hour 10 minutes.
Compton Place
Camberley’s location is a key industrial corridor due to its access direct to the M3 and the wider Business Centre
south east. Demand for industrial space has continued to rise year on year with a number
of retailers and trade industrial occupiers locating their business within the area, to include:
Amazon, BAE Systems and DPD.
NOT TO SCALE. FOR IDENTIFICATION PURPOSES ONLY.
Compton Place Business Centre
Surrey Avenue, Camberley, Surrey, GU15 3DX
4
SITUATION
Compton Place Business Centre is situated on the eastern side of Surrey avenue two minutes’
drive south from the A30 (London Road).
Local occupiers in the area include: Selco, Screwfix, Fedex, Travis Perkins and Tool Station
among many others.
FR
IM
LE
YR
Compton Place
Business Centre
D
NOT TO SCALE. FOR IDENTIFICATION PURPOSES ONLY.
Compton Place Business Centre
Surrey Avenue, Camberley, Surrey, GU15 3DX
5
DESCRIPTION TENURE
OS Plan
The subject property comprises a series Black / White
of predominantly single storey warehouses that have Freehold.
been subdivided to provide 20 separate units currently used as light industrial, workshop and
office space. There are four units on the first floor with the remainder spread throughout the
ground floor space.
The single storey element is of solid masonry construction under a multi-pitched profile metal
486400
486500
roof, with concrete flooring. The two-storey element is of concrete construction at ground floor
with timber framed first floor and a flat roof. The property is brick clad and rendered in part.
There are 49 car parking spaces provided and the property has a site area of approximately
0.83 acres (0.33 hectares) and a site coverage of 44%.
159800 159800
For identification purposes only.
159700 159700
Compton Place Business Centre 6
486400
486500
Surrey Avenue, Camberley, Surrey, GU15 3DX Metres
0 5 10 20 30 40 50
Tenancy and accommodation
The property is multi let producing a current income of £156,151 per annum, in accordance with the accommodation and tenancy schedule below:
Lease Lease Break Passing
Address Tenant Area sq ft Rent psf EPC Comments
Start Expiry Date Rent
Compton Place Business Centre - Unit 1 Mr Ignitor Ltd 1,303 01-Feb-18 31-Jan-24 Rolling £14,820 £11.37 E Mutual rolling break option on 6 months notice
Compton Place Business Centre - Unit 2 Power Services International 1,192 01-Mar-18 29-Feb-24 Rolling £10,810 £9.07 E Mutual rolling break option on 6 months notice
Compton Place Business Centre - Unit 3 Larch Computer Services Ltd 1,326 23-Dec-17 22-Dec-23 Rolling £13,000 £9.80 E Mutual rolling break option on 6 months notice
Compton Place Business Centre - Unit 3A Antony Barret t/a Life Charms 552 01-Dec-18 30-Nov-21 n/a £6,186 £11.21 E
Carole Anne Cole t/a Big Fish 117
Compton Place Business Centre - Unit 4 416 21-Sep-20 20-Sep-23 20-Mar-22 £4,600 £11.06 E Tenant break subject to 6 months notice
Ministries
Compton Place Business Centre - Units 5 Coat Trading Ltd 687 01-Sep-20 31-Aug-23 28-Feb-22 £7,000 £10.19 E Tenant break subject to 6 months notice
Compton Place Business Centre - Unit 6 Active Print Services Ltd 636 01-Oct-17 30-Sep-23 Rolling £7,150 £11.24 E Mutual rolling break option on 6 months notice
Compton Place Business Centre - Unit 7 & 14 Spartan Plumbing & Heating Ltd 918 01-Nov-20 31-Oct-23 31-May-22 £8,850 £9.64 E Tenant break subject to 6 months notice
Compton Place Business Centre - Unit 8 Hoxton & Grey Ltd 200 01-Jun-21 31-Aug-23 n/a £2,760 £13.80 E
Stepped rent Y1 - £4,296 pa Y2 - £4,678 pa Y3 - £5,060
Compton Place Business Centre - Unit 9 Mark Hannaford 435 15-Jun-20 14-Jun-23 15-Jun-22 £5,060 £11.63 D
pa. Vendor to top up
Stepped rent Y1 - £10,500 Y2 - £11,250 Y3 - £12,000 -
Compton Place Business Centre - Unit 10 Unboxed Events Ltd 1,187 01-Sep-20 31-Aug-23 n/a £12,000 £10.11 E
Vendor to top up
Compton Place Business Centre - Unit 11 Vitrine Systems Ltd 1,033 01-Aug-19 31-Jul-22 n/a £8,000 £7.74 D
Compton Place Business Centre - Unit 12 Vitrine Systems Ltd 840 01-May-20 30-Apr-25 15-Mar-23 £10,185 £12.13 D Tenant break subject to 6 months notice
Compton Place Business Centre - Unit 13 Richard Collins 559 01-May-20 30-Apr-23 n/a £5,590 £10.00 D Tenant has not exercised recent break option
Compton Place Business Centre - Unit 13A Andrew & Richie Developments Ltd 691 18-May-20 30-Apr-23 n/a £6,910 £10.00 D
Compton Place Business Centre - Units 15 & 17 Vitrine Systems Ltd 1,832 15-Mar-20 14-Mar-25 15-Mar-23 £18,690 £10.20 E Tenant break subject to 6 months notice
Compton Place Business Centre - Unit 15A Lightwater Cleaning itd 309 03-Aug-15 02-Aug-21 Rolling £3,870 £12.52 E Mutual rolling break option on 6 months notice
Compton Place Business Centre - Unit 16 Life Charms Ltd 822 01-Jan-21 31-Dec-23 27-Nov-22 £9,350 £11.37 C Tenant break subject to 6 months notice
Compton Place Business Centre - Unit 20 VIDA Fire & Security Ltd 105 27-May-21 26-May-24 27-Nov-22 £1,320 £12.57 E Tenant break subject to 6 months notice
Total 15,043 £156,151 £10.38
All leases are outside the 1954 act.
Compton Place Business Centre
Surrey Avenue, Camberley, Surrey, GU15 3DX
7
VAT PROPOSAL
Value added tax will be applicable and it is anticipated the transaction will be Offers in excess of £1,838,000 (ONE MILLION EIGHT HUNDRED AND THIRTY-EIGHT
treated as a transfer of going concern. THOUSAND POUNDS) subject to contract and exclusive of VAT. A purchase at this level will
reflect a Net Initial Yield of 8% after allowance for purchaser’s costs of 6.22%.
Based on an established ERV of £12.50 psf a purchase at this level will reflect a potential
reversionary yield of 9.63%.
CONTACT
For further information contact the joint agents: Stephen Raingold
M: 07775 647 499
Duncan MacLaren stephenraingold@lewisandpartners.com
D: 020 7317 3132
M: 07770 648 755 Joseph Rantor
duncan@maclarenpartners.co.uk M: 07976 599 374
josephrantor@lewisandpartners.com
Suite 4, 56 Queen Anne Street, London W1G 8LA 15/19 Cavendish Place, London W1G 0QE
Tel: 020 7317 3131 Tel: 020 7580 4333
www.lewisandpartners.com
SUBJECT TO CONTRACT AND EXCLUSIVE OF VAT
LEWIS & PARTNERS LLP AND MACLAREN & PARTNERS LLP FOR THEMSELVES AND FOR THE VENDORS OF THIS PROPERTY WHOSE AGENT THEY ARE GIVE NOTICE THAT:-
1. These particulars do not constitute any part of the offer for sale or contract for sale. 7. Any properties or drawings of the relevant property or part thereof or the neighbouring areas may not depict the property or the
2. All statements contained in these particulars as to this property are made without responsibility on the part of Lewis & Partners LLP and neighbouring areas at the date a prospective purchaser or tenant inspects the property. Prospective purchasers are strongly advised to
MacLaren & Partners LLP or the vendors or lessors. inspect the property and neighbouring areas.
3. None of the statements contained in these particulars as to this property are to be relied on as statements or representations of fact. 8. Lewis & Partners LLP and MacLaren & Partners LLP have not measured the property and have relied upon clients information. Therefore Lewis
4. Any intending purchasers must satisfy themselves by inspection or otherwise as to the correctness of each of the statements contained in & Partners LLP and MacLaren & Partners LLP give no warranty as to their correctness or otherwise and the purchasers must rely on their own
these particulars. measurements.
5. Any plans or photographs or drawings shown in these particulars are to enable prospective purchasers or tenants to locate the property. The 9. All terms quoted are exclusive of value added tax unless otherwise stated.
plans are photographically reproduced and therefore not to scale except where expressly stated. The plans, photographs or drawings are for 10. The vendors do not make nor do Lewis & Partners LLP and MacLaren & Partners LLP any person(s) in their employment give any warranty
identification purposes only. whatsoever in relation to this property.
6. No warranty or undertaking is given in respect of the repair or condition of the properties or any items expressed to be included in the sale. 11. These details are believed to be correct at the time of compilation but may be subject to subsequent amendment.
12. These details were prepared as of June 2021
Adrian Gates Photography & Design 07710 316 991
You can also read
