Tannery Road Industrial Estate

¦ Urban multi let estate located in the centre of Tonbridge with significant future redevelopment potential.
¦ Tannery Road Industrial Estate benefits from excellent transport links, accessed directly via the A26 which in turn links to the A21 leading to Junction 5 of the M25.
¦ The Estate totals 59,748 sq ft and comprises 15 industrial units ranging from approx. 2,000 – 8,200 sq ft.
¦ Fully let to 11 tenants producing a total income of £715,256 per annum, equating to a low passing rent of £11.97 psf.
¦ Tenants include Royal Mail Group Ltd, Belron UK (t/a Autoglass) and Garden House Collections Ltd (t/a Neptune).
¦ Unexpired term of 3.86 years to expiries and 3.02 years to breaks.
¦ Significant future redevelopment potential – the site is identified
within the Tonbridge Local Plan for future residential development.
¦ Site area of approximately 2.8 acres providing a low site cover of 45%.
¦ Freehold.
Proposal:
Offers are invited in excess of £11,657,000 (Eleven Million Six Hundred and Fifty Seven Thousand Pounds), subject to contract and exclusive of VAT, reflecting a headline net initial yield of 5.75% assuming purchasers costs of 6.71%. This represents a low capital value of £195 psf.