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%.