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

6
Planning
The site is termed as an “opportunity area” in the latest Draft
Framework and there is potential to redevelop the estate.
The Draft Framework encourages redevelopment for commercial
use of the sort that will reduce HGV movement in the
surrounding area, especially the villages of Richling Park and Iver.
Court Lane Industrial Estate has been in continuous commercial
use for over 30 years.
The Farmhouse is Grade II listed.
Rental Comment
The landlord break in 2013 on Court Lane Garages offers the
opportunity to increase rental income subject to a landlord
payment of £250,000.
At the current ERV’s this will increase the achievable rent to in
excess of £1,270,000 per annum.
Redevelopment Potential
Court Lane Industrial Estate has an overall site coverage of only
6.2% and has the potential to be redeveloped to provide a
greater density of built accommodation subject to planning.
Identified options include:
Vacant possession of approximately 3.7 acres at the front of
the estate could be obtained by December 2013. This area
could be suitable for a development of industrial starter
units.
The entire site has significant potential for a Data Centre
development. Initial enquiries have been made particularly
in relation to power supply and connectivity. Further
information available on request.
Unit 17/18
Unit 1
COURT LANE INDUSTRIAL ESTATE, IVER, BUCKINGHAMSHIRE SLO 9HL
VAT
The property is elected for VAT and therefore VAT will be payable
on the purchase price. It is envisaged that the transaction will be
dealt with as a Transfer of a Going Concern (TOGC).
Proposal
We are instructed to seek offers in excess of £13,200,000,
subject to contract and exclusive of VAT. A purchase at this level
will reflect a net initial yield of 8%, a reversionary yield of 9.10%
and an equivalent yield of 8.60%.
Purchasers costs calculated at 5.7625%.