Broadmead House, Aylesford_Property for Sale

Broadmead House New Hythe Business Park, Aylesford, KENT, ME20 6XS, UK

Broadmead House, Aylesford

Asset description

Aylesford is a sought after industrial and distribution location, 1.5 miles from J4 of the M20, which links to the M25 and Channel Ports.
New Hythe Business Park is the dominant industrial/logistics location in Aylesford, with leading national occupiers including Amazon, DHL, Evri, Pickfords, Stapletons, Storage King, Polypipe, and Sheffield Insulation Group.
An £8m new link road from Panattoni Park to J4 M20 has recently opened via Bellingham Way.
Broadmead House is prominently located on an island site on Bellingham Way on the New Hythe Business Park, and comprises a 50,697 sq ft HQ Warehouse, constructed in 1996, and recently refurbished. Eaves height is 7.6 m, there are four level access loading doors and a 4 tonne gantry crane fitted.
There are 108 dedicated car spaces on site and the new subtenant is installing 7 Electric Charging Points. The property occupies most of an island site totalling 2.29 acres, with a low site coverage of approximately 34%.
Freehold.
Let on FRI terms to Kier Construction Ltd (with Kier Group plc as guarantor) for 20 years from 31 December 2018, with a tenant break option on 20 June 2036 (11.5 years). The rent of £486,680 pa (£9.60 psf) is subject to five yearly reviews in line with the RPI, with a minimum 10.41% increase and maximum 21.67% increase.
At the December 2028 rent review, the rent will increase to a minimum £537,343 pa and a maximum £592,144 pa.
Kier Group plc (the guarantor), reported Turnover of £3,905.1 million for the year to 30 June 2024 and pre-tax profit of £150.2 million. As at 16 December 2024, the company had a Market Capitalisation of £683,840,000.

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Attributes

Building area gross

399,341 sf

Year built

2000

WAULT

14 years

Media

Investment highlights

Offers in the region of £6,760,000 subject to contract and exclusive of VAT, to reflect a net initial yield of 6.75%.

Based on a rental increase in line with the collar/cap the reversionary yield in 2028 will be between 7.45% and 8.21% respectively giving a net equivalent yield between 7.05% and 7.42% depending on the collar/cap increase.