Unit 43 Bookham Industrial Estate, Leatherhead, KT23 3EU

Key Features

• South-east industrial/warehouse investment close to A3/M25.

• Freehold.

• Annual income of £22,000 reflecting a low overall rent of £8.73 per sq ft.

• Tenant has been in occupation since 2007.

• Secure / gated, well-managed estate.

• Good continued rental growth prospects.

• No VAT payable.

• Recent external redecorations.

Available area

The accommodation comprises of the following GIA areas:

Name Sq ft Sq m Availability

G 1,509 140.19 Under offer

1st 121 11.24 Under offer

Totals 1,630 151.43

The premises comprise a modern, end of terrace warehouse / industrial unit of steel portal frame construction with external elevations of fair-faced brickwork and profile steel sheet cladding both of which have been subject to recent redecoration to further modernise the unit.

The specification includes an up and over roller shutter loading door, separate pedestrian access, UPVC double glazed windows, roof lights, office accommodation with WC/kitchen facilities and approx. 4 car parking spaces with additional free parking available on the estate. The tenant has inserted a mezzanine floor.

The estate has recently been upgraded with security gates.

Tenancy

The property is let on the following terms:

• Lease Commencement: 2nd June 2017

• Lease Expiry: 31st May 2023

• Tenant: Blomster Designs Limited

• Annual Rent: £22,000

• Outside security of tenure provisions of 1954 Landlord and Tenant Act

• Permitted Use: B1/B8

Blomster designs limited have been in occupation of the building since c2007 demonstrating their commitment to the unit.

Blomsterdesignsflowers.co.uk and Blomsterdesigns.co.uk

Tenure

The property is held Freehold under the number SY 57 62 72.

The title plan can be downloaded from hurstwarne.co.uk

Logistics / Industrial Investment Market

Occupational demand continues to outstrip supply and consequently we have witnessed sustained rental growth across the sector with little sign of abating. Together with historically low interest rates and low capital expenditure requirements, the logistics/industrial sector continues to be an attractive and well-performing safe-haven for investors.

Occupational Market

The logistics/industrial market has experienced significant rental growth primarily due to increased demand and a resulting reduction in existing stock. Furthermore, due to scarcity of land, there is very little new development pipeline meaning that tenant demand is concentrated around second-hand stock. Prime headline rents in nearby Leatherhead have exceeded £15.00 per sq. ft.

The estate is currently fully let.

EPC

The subject property has an EPC rating of E (113)

VAT

The property has not been elected for VAT meaning that no VAT shall be payable on the purchase price.

Proposal

Offers in excess of £400,000, reflecting a gross yield of 5.5% and a reversionary yield of 6.25% (based on an estimated rental value of £25,000).

Disclosure

In accordance with the Estate Agents Act 1979 the Directors of Hurst Warne and Partners Surveyors Ltd declare a personal interest in the subject premises.

Property Type Warehouse & Industrial, Investment Property

Tenure For Sale

Size 2,521 sq ft

Freehold Price Price on Application

Energy Performance Rating This property has been graded as 113 (E)