For Sale
Maidstone- High Yielding Town Centre Trade Units
Lower Boxley Road, Maidstone, ME14 2UU
Offers in excess of £3,000,000
- Property Type:
- Commercial
- Tenure:
- Freehold
- Net Initial Yield:
- 8.43%
- Site Area:
- 19,124 sq.ft
Income
£269,241 pa
Description
• Maidstone is an affluent county town and the administrative centre for Kent
• The property benefits from a prominent frontage to Lower Boxley Road
• Purpose built trade unit totalling 19,124 sq ft
• Fully let to the strong convents of Instant Managed Offices guaranteed by the Department of Work & Pensions and J&S Accessories Limited
• 75% of the income is guaranteed by the Department for Work & Pensions who have recently fitted out and taken a 5 year lease
• A purchase at this level reflects Net Initial Yield of 8.43%, after allowing for standard purchaser’s costs of 6.45%.
• WAULT of 4.88 years to expiry (3.64 years to break)
• Passing rent of £269,241 per annum reflecting £14.08 psf
• 32 car parking spaces
• Potential for a range of alternative uses as last mile logistics, a supermarket, trade counter or residential subject to obtaining the necessary consents
Subject to contract