Ferry Works - Thames Ditton_Property for Sale

Ferry Works, Summer Road, Thames Ditton, SURREY, KT7 0QJ, UK

Ferry Works - Thames Ditton

Description

Ferry Works is a 63,415 sq ft mixed-use property in Thames Ditton featuring four Victorian warehouse buildings dating from the 1880s together with two newer office buildings added in the 1980s. The property occupies a prominent 1.32-acre site with views along the River Thames.

Benefitting from flexible use Class E consent, Ferry Works is multi-let offering 1.9 years to breaks and 6.5 years to expiries with vacant space available to asset manage and drive returns.

The freehold property is located in the heart of Thames Ditton, a short walk from local amenity and 10-minutes from the train station which provides direct connections to London Waterloo.

...

Attributes

Building area net

5,891 sm

Year built

1880

Land area gross

0.53 ha

Asking price

¥1,598,914,000

CV psf

£126

Media

Investment highlights

Prime riverside location: a unique 1.32-acre site with River Thames frontage in Thames Ditton.
Strong reversionary profile: the current passing rent totals £505,076 per annum reflecting £29.37 psf on the let space with progressed interest in the 21,896 sq ft light industrial unit.
Immediate asset management upside: 12,603 sq ft of vacant office space available to asset manage and drive returns.
Creative repositioning potential: opportunity to deliver creative or film studio space, or other alternative uses including residential (STP). Office B was recently granted Permitted Development consent for change of use to C3.
Value opportunity: available to buy at a significant discount to replacement cost.