Rygor Commericals, 8 Stanwell Road, Bedfont, TW14 8NWMake an enquiry
Franck-Steier Price has recently completed the acquisition of a long let warehouse unit in close proximity to Heathrow airport on behalf of CBRE Global Investors.
The property is located on the corner of Stanwell Road and Great South West Road 0.5 miles to the south-east of Heathrow Terminal 4 and 1 mile to the east of Heathrow Cargo Handling Terminal.
The property comprises a warehouse unit of 22,074 sq.ft on a site of 1.88 acres, with a low site cover of 23%.
The property is let in its entirety to Rygor Commercials for a term of 15 years from 25 March 2015. The lease is held on FRI terms with 5 yearly upward only reviews to open market value. The current rent is £312,500 per annum.
The purchase price of £6,220,000 represented a net initial yield of 4.75% assuming costs of purchase of 5.80%.
Ben Blackwall, Director at FSP comments ‘The property is situated in a very strong location which bodes well for future rental growth. The tenant has been in occupation for over 10 years and the property is the top performing branch within its UK portfolio.’
The vendor was Treevale Properties represented by LSH.