court lane industrial estate, iver, buckinghamshire ... - Capita Symonds

2
Investment Summary
Rare opportunity to acquire a multi-let industrial
and storage land estate in a strategic location
adjacent to M25 and close to Heathrow Airport.
Freehold.
14 acres of mostly open storage land with
approximately 37,426 sq ft of existing buildings.
Currently let to 9 tenants on 12 leases at a passing rent
of £1,112,358 per annum including a 1 year rent
guarantee.
Weighted average unexpired term of 8.7 years to lease
expiries.
Existing landlord and mutual breaks will enable
vacant possession of approximately 3.7 acres by
December 2013 for redevelopment.
Entire site identified for future redevelopment
subject to planning.
Identified as potential data centre development site.
Offers in excess of £13,200,000 subject to contract
and exclusive of VAT. A purchase at this level reflects
a Net Initial Yield of 8% and a reversionary yield of
9.10% assuming purchasers costs of 5.7625%.
Location
Iver is in the south-east corner of South Buckinghamshire close
to the borders of the London Borough of Hillingdon and
Berkshire.
The location is excellent being 17 miles west of Central London,
3 miles west of Uxbridge and 5 miles north east of Slough.
Junction 5 of the M4 motorway is less than 4 miles to the south
giving access to the M25 at junction 15.
Heathrow International Airport is 3 miles to the south east.
Regular rail services are available to Central London and the West
Country from Iver station.
Situation
COURT LANE INDUSTRIAL ESTATE, IVER, BUCKINGHAMSHIRE SLO 9HL
Court Lane Industrial Estate is situated directly to the east of
the M25 and within 0.5 miles of Iver Village. The site is
bounded by the Slough Arm of the Grand Union Canal to the
north and is highly visible from the M25.
Access from Junction 5 of the M4 is via the B470 and Thorney
Lane North. Alternatively, access is from either Junction 4 of the
M4 or Junction 1 of the M40, and through Uxbridge to Thorney
Lane North via the B470.
The property is located within the Metropolitan Green Belt and
is therefore in an area of limited availability for it’s current uses.
Other industrial estates in the immediate area include
Ridgeway Trading Estate, Iver and Thorney Lane Business Park.
The site benefits from being close to Iver Railway Station,
which is scheduled to benefit from Crossrail and in the longer
term, may be adjacent to the Heathrow Hub if this project
were to become a reality.
ylesbury
M40
ading
M4
M3
A418
Hemel 10
Hempstead
A413
A41
IVER
3
Woking
M1
16
15
12
A3
Guildford
Luton
A1(M)
21
M25
A24
9
Cra le
23
M25
LONDON
7/8
M23
27
M11
M25
8
A21
A414
2
A26
M25
M20
M26
A120
A1
A
A13
Sevenoak
Description
Court Lane Industrial Estate is a site regular in shape extending to
approximately 14 acres.
The property provides over 10 acres of open storage with ancillary
buildings mainly let to airport paking and recycling operators.
The remaining area comprises industrial units with yards.
Court Garages incorporates a workshop, a terrace of units,
additional yardage, advertising hoarding and a listed farmhouse.
The tenant redeveloped a former stable block to form the terrace
of small units and operates the farmhouse as a serviced office
centre.
Tenure
Freehold.
IVER