Portman Road Estate Disposal

Portman Road, Reading, Berkshire, RG30 1EA, UK

Description

• Opportunity to acquire a two tenant highly reversionary industrial asset in Reading.

• Reading is a prime industrial location in the Thames valley and M4 corridor that is benefitting from sustained rental growth.

• Access to reversion with 62% of income subject to rent review in c 12 months.

• Situated close to the town centre, the property’s location enables its tenants to serve the Reading urban area whilst also benefiting from the access to the M4 and the national motorway network via the A33.

• The property, let to two tenants, comprises a 6 unit multi let estate with a total of 64,860 sq ft of industrial accommodation in a well-established industrial location with well-covenanted national occupiers.

...

Attributes

Building area net

6,026 m²

Year built

2000

Media

Investment Highlights

• Headline passing rent of £630,772, representing a highly reversionary £9.73 psf with 66% of income subject to a lease event.

• Prime headline MLI rents in Reading in excess of £20.00 psf.

• Let to 2 tenants with a WAULT of 5.3 years.

• Freehold

We are instructed to seek offers in excess of £11,250,000 (Eleven Million Two Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT.

A purchase at this level reflects a Net Initial Yield of 5.25% and a Headline Reversionary Yield of 6.75%, representing a Capital Value of £173 psf.

Little John's Lane Reading RG30 1PD