Industrial for sale in Unit 5 - Lockwood Industrial Park, Mill Mead Road, Tottenham Hale, London N17

Offers over £2,700,000 (£434.78/sq. ft)
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Industrial for sale 6,210 sq. ft*
Tenure: Freehold Council tax band: Not available

Property description

Key Points

  • The property is located in a core London warehouse, last mile logistics and trade counter location being roughly equidistant between the M25 circa 6 miles to the north and only 5.5 miles to the Square Mile of the City of London to the south
  • Prominently situated to the A10 and the A406 (North Circular), 300m away from Tottenham Hale station (Victoria Line & National Rail Overground Services)
  • The property sits within the highly sought-after Tottenham catchment which forms a key territory for both industrial manufacturers and last mile distribution groups
  • Purpose-built warehouse unit comprising a total of 6,210 ft2 (576.8 m2 ) situated on a site area of 0.1907 acre site part of the Lockwood Industrial Park
  • Let to the Millmead Sausage Company Limited on Fri lease terms for 10 years commencing 9th June 2018 (5.8 years unexpired) rent passing off £86,500 per annum (£13.92 psf)
  • The rent review upcoming on 9th June 2023 is to open market value (omv) and is considered highly reversionary
  • Strettons view on Estimated Rental Value (erv) is £22 psf
  • The subject property is critical to the occupational tenant as is their sole facility. The tenant has invested into the property to add significant commercial chillers in order to obtain 6x brcgs accreditations
  • Established local covenant (Parent company structure has £4.2m of Assets) who has been in continuous occupation since 2008
  • Freehold
  • Description

    The property is a modern industrial/warehouse unit forming a part of a terrace of three industrial units set within Lockwood Industrial Park (19 industrial units in total). The subject property has 5.9 metre (18 ft) eaves heights and Three Phase power supply. The property is generally a rectangular shaped unit with forecourt for loading and 7 parking spaces. The wider estate benefits from on-site security. The tenant has invested into the property fitting commercial chillers to the bulk of the ground floor accommodation in 2008.

    Location

    The subject property forms a part of an industrial estate known as Lockwood Industrial Park which comprises eighteen modern warehouse units of varying sizes between 4,000 sq ft - 10,000 sq ft, built in the late 1980s and early 1990s.

    The property is located within the east of London Borough of Haringey on the west side of Mill Mead Road.

    To the north of Mill Mead Road leads to Mill Mead Industrial Centre which comprises of a mixture of industrial and workshop units and to the south of the estate is the Hale Village residential-led development constructed over the last decade or so. To the south of Mill Mead Road leads to A503 Ferry Lane, which links to the west A10 Broad Lane, and to north A1055 Watermead Way.

    Access to central London to the south via the A10, from the A503, and access to the A406 North Circular Road to the north is via the A10 and up to the M25. The A1055 and access to the M11 is via the A503 Ferry Lane/Forest Road to the east.

    Property info

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

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    Strettons City & City Fringe, EC2A on +44 20 8022 4551 * (local rate)

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    Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Strettons City & City Fringe, and do not constitute property particulars. Please contact Strettons City & City Fringe 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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