Light industrial for sale in Sandiford Road, Sutton SM3

Investment Consideration:
Rental Income: £181,000 p.a.
Gross Initial Yield: 9.05%
VAT is not applicable to this property
Sale Leaseback. Property owned by an owner occupier. New 10 year lease to be signed upon sale completion
Comprises detached two-storey newly refurbished warehouse and office building
Provides 9 new office and 2 warehouse units
Benefits from main reception, communal gym with separate access, air conditioning system and break out area with pool table and branded coffee station
Situated in the heart of Kimpton Business Park with occupiers nearby including Parcelforce, Screwfix, hss Hire, Tesco Extra and Halfords Autocentre, amongst others

Property Description:
Comprises detached two-storey newly refurbished warehouse and office building, which includes main reception, communal gym with separate entrance, communal break out areas with branded coffee station, air condition & alarm systems, and provides the following accommodation and dimensions:
Ground Floor: 452 sq m (4,864 sq ft)
Unit 1 - Warehouse 227 sq m (2,443 sq ft)
Unit 2 - Warehouse 165 sq m (1775 sq ft)
Unit 2A - Communal gym 60 sq m (646 sq ft)
First Floor: 295 sq m (3,175 sq ft)
Unit 3 - Office 66 sq m (710 sq ft)
Unit 4 - Office 17 sq m (183 sq ft)
Unit 5 - Office 17 sq m (183 sq ft)
Unit 6 - Office 22 sq m (237 sq ft)
Unit 7 - Office 45 sq m (484 sq ft)
Unit 8 - Office 65 sq m (700 sq ft)
Unit 9 - Office 21 sq m (226 sq ft)
Unit 10 - Office 21 sq m (226 sq ft)
Unit 11 - Office 21 sq m (226 sq ft)
Total NIA: 747 sq m (8,039 sq ft)
Total gia: 1,021 sq m (11,000 sq ft)
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Tenancy:
The property will be sold and leased back by the existing owner occupier for a term of 10 years from successful sale completion at agreed rent of £181,000 p.a. On a full repairing and insuring lease. Rent review in the 5th year open market, upward only. Tenant option to determine in the 5th year with minimum 6 months’ notice. Deposit to be held of £45,250.

Tenure:
Long Leasehold. Held on a 125 year lease from 29th September 1988 at a ground rent of £20,900 p.a. Rent review on 29th September 2028 and every 10th year after (open market upward only).

Location:
The property is located in the heart of Kimpton Industrial Estate, which can be easily accessed from the A217. This road offers convenient connections to Central London and Junction 8 of the M25. In addition, the estate has good public transportation options, including Sutton Common train station, which is just 0.7 miles away, as well as several bus routes. Situated in the heart of Kimpton Business Park with occupiers nearby including Parcelforce, Screwfix, hss Hire, Tesco Extra, Halfords Autocentre and many more.