Under Offer
High Wycombe – Rare Reversionary Multi-Let Trade Counter Investment Opportunity
Wye Estate, London Road, High Wycombe, HP11 1LH
Offers in excess of £13,800,000
- Property Type:
- Commercial
- Sub Type:
- Industrial
- Tenure:
- Freehold
- Net Initial Yield:
- 4.5%
- Site Area:
- 46,803 sq.ft
Income
£663,429 PA
Description
- High quality south east multi-let trade counter estate and solus office/showroom investment opportunity
- Prominently located adjacent to the A40 with superb connectivity to the M40 motorway which provides direct access to the M25 motorway
- Fully let estate comprises 19 units totalling 46,803 sq ft
- The estate is let to 12 occupiers including Howdens, Wolseley and Grant & Stone with a long WAULT of 6.46 years to lease expiries and 4.91 years to lease breaks
- Total annual rent of £663,429 with a low risk income profile
- Reversionary passing rent of £14.17psf with proven on site reversion of £15.76psf
- c.50% of the income is subject to rent reviews over the next 3 years
- 77% of the income is secured to tenants with a ‘Low’ or ‘Very Low’ Risk
- Freehold
- We are instructed to seek offers in excess of £13,800,000 (Thirteen Million Eight Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 4.50%, a Reversionary Yield of 5.15% and a low Capital Value of £295psf, assuming Purchaser’s Costs of 6.72%.