106-110 Prince of Wales Road, Norwich
106-108 Prince of Wales Road, Norwich, NR1 1NS, UK
CA$2,958,000 | 1,394 sm
Attributes
Building area gross
3,613 sm
Occupancy
100%
Year built
1980
Land area gross
0.81 ha
Units
9
WAULT
5.38 years
Ceiling height
6 m
Tenants
7
Loading docks
9
Investment strategy
Value Add
NOI
CA$744,000
Rent PSF
CA$19.12
Cap rate
5.75%
Asking price
CA$12,098,000
Asset description
The property comprises a multi let industrial estate located in the south east of england, benefitting from the following specification:
- Arranged over two terraces with a central courtyard
- Additional parking to the rear of the estate
- Secure entrance and perimeter fence
- 9 units
- Internal eaves height – 6m
- Loading door height – 5m
- Loading door width – 4m
- Each unit benefits from a self contained ground and first floor office pod
- C.1980s construction
...
Investment highlights
- Rare opportunity to acquire a multi let industrial estate located in the South East of England.
- Short distance to the M2 Motorway, providing access to the South East of London and the wider motorway network.
- The estate, totalling 38,886 sq ft, produces a headline rent of £414,721 per annum, equating to a low average rent of £10.67 per sq ft across the estate.
- Prime rents in Rochester currently stand at £14.00 per sq ft, demonstrating the asset’s strong reversionary potential.
- Significant immediately deliverable asset management opportunities with over 20% of income subject to rent review within 12 months, allowing for an incoming purchaser to immediately drive performance on the asset.
- Diverse strong occupier base, with over 75% of income rated as Very Strong or Strong CreditSafe rating. Core areas of business dominated by the Logistics, Automotive and Construction industries.
- Freehold.
Media
Rochester Airport Industrial Estate (0 Properties)
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Last updated
Feb 17, 2025