Travis Perkins, Seally Road, Grays

• Opportunity to acquire a prime trade counter investment in a mixed commercial and residential location with strong future potential for a range of alternative uses.
• Located in the established industrial area of Grays, at the junction of the A1012 and the A126 and with excellent connectivity via junction 30 of the M25 motorway, connecting Grays with the wider UK road network and Central London.
• Highly specified unit extending to 49,056 sq ft with a site area of 0.46 hectares (1.13 acres) providing a low site coverage of 22%.
• Let to Travis Perkins (Properties) Limited (trading as Travis Perkins) until 30 November 2031 without break (7.8 years term certain).
• Passing rent of £170,000 per annum (£11.09 per sq ft).
• 5 yearly rent reviews to the higher of two-thirds of Market Rent or 3% per annum compounded annually – next rent review 1 December 2026.
• Held long leasehold from Travis Perkins Plc for a term of 200 years from 1 December 2006 at a peppercorn rent.
• The long leaseholder has a right to acquire the freehold interest for £1, exercisable on expiry of the occupational lease or if a Group company of Travis Perkins Plc ceases to have an interest in the occupational lease.

We are instructed to seek offers £2,900,000 (Two Million, Nine-Hundred Thousand Pounds) a purchase at this level would reflect a net initial yield of 5.51% and a minimum reversionary yield of 6.38% at review in December 2026.