Industrial for sale in Caxton Works, Jude St, London E16

Offers over £5,200,000 (£207.43/sq. ft)
Industrial for sale 25,069 sq. ft*
Interested in this property? Call +44 20 8022 7458 * or Request Details

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Property description

Description

Designed by award-winning architects Studio Egret West and regeneration specialists U+I, Caxton Works features 25,069 sq ft of prime commercial space.

Already teeming with local entrepreneurs, eateries, community hubs and cultural happenings, Caxton Works captures the energy of east London’s emerging commercial and cultural landscape.

Viewings

By prior appointment only via joint agents Cherryman or Prime Retail

Location

Caxton Works benefits from the following transport infrastructure:

— 5 mins walk to Canning Town Station (DLR and Jubilee Line)
— 10 mins walk to Custom House (Elizabeth Line)
— 10 mins walk to Emirates Air Line Cable Car
— 15 mins walk to Excel
— 15 mins bus to London City Airport

Journey Times from Custom House, Elizabeth Line: (Operational service scheduled 2022)

— Canary Wharf 5 mins
— Liverpool Street 8 mins
— Bond Street 20 mins

Terms

Caxton Works is configured to offer 13 units that total 25,069 sq ft of high quality, mixed-use accommodation. Of these units, 11 are secured to a strong mix of tenants, with one unit being under offer and just one unit currently vacant. As let, the asset offers a strong Average Weighted Unexpired Lease Term of approximately 10.3 years to expiry and 3.96 years to lease breaks.

We are instructed to seek offers of £5,200,000 subject to contract and exclusive of VAT. Allowing for purchaser’s costs of 6.60%, a purchase at this level would reflect 8.83% niy and a low capital value per sq ft of £207.43.

Planning Use

The original planning consent granted B1 (light industrial/office use) with the exception of Unit 5 that also permitted A3 (restaurant use). Over the course of the marketing campaign some units have obtained planning consent for alternative use classes to include D1, D2 and the new E class.

Rent Commentary

The original planning consent required that the rents are to be capped at the equivalent of £6 per sq ft for the first three years of the first letting for each unit. Thereafter, terms are by negotiation where rents have been agreed at a stepped rent.

The Landlord will ‘top-up’ to a proposed sale level of £492,697 p.a.

Further Information

Access to the on-line data-room and tenancy schedule can be provided upon request.

Property info

Caxton Works Ground Floor Estate Layout Plan.pdf View original


View Floorplan 1(Opens in a new window)

* Sizes listed are approximate. Please contact the agent to confirm actual size.

Arrange Viewing

For more information about this property, please contact
Cherryman Ltd, E14 on +44 20 8022 7458 * (local rate)

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Disclaimer

Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Cherryman Ltd, and do not constitute property particulars. Please contact Cherryman Ltd for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.

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