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Unit M, Orbital Park, Ashford, Kent TN24 0GA

The Boulevard Orbital Park Ashford, Kent TN24 0GA

Investment Summary

• Distribution warehouse investment opportunity.
• Located on the established Orbital Park estate in Kent.
• 112,449 sq ft (10,447 sq m) of warehouse and
ancillary office accommodation.
• Site area of approximately 5.29 acres, providing a site coverage of 49%.
• Let to Menzies Distribution Limited and Brooke Homes Developments Limited.
• Total rental income of £606,436 per annum, reflecting £5.39 per sq ft overall.
• Freehold.
• Offers sought in excess of £8,120,000 (Eight Million, One Hundred and Twenty Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 7.00%, assuming purchasers costs of 6.67%.
• Low capital value of £72.21 per sq ft.

Location
Ashford is located in Kent at the southern edge of the North Downs, 53 miles (85.3 km) south-east of Central London, 20 miles (32.2 km) south-east of Maidstone and 21 miles (33.8 km) west of the Port of Dover. It is regarded as a key business location in Kent attracting a vast amount of inward investment in both commercial and residential development. Ashford International Rail Station is less than 2 miles away and provides high speed link to London St Pancras (37 mins) and the continent (Paris 112 mins).

Situation
The subject property is located on Ashford’s premier estate, Orbital Park, which is located less than a mile away from Junction 10 of the M20 which provides direct access to the M25 (J3) and National Motorway Network north towards London and south to the Channel Tunnel/Ports. Orbital Park is strategically located within the Channel Tunnel corridor and is viewed by the local council as an area for significant commercial development/expansion. Salmon Harvester have recently developed Phase 1 of Axiom on Orbital Park which provides 55,000 sq ft spread across 7 warehouse units with Phase 2 soon to follow on the adjacent site.
Other occupiers on Orbital Park include – Howdens Joinery, BMW, Toyota, Vauxhall, Mercedes Benz, Screwfix, Halfords Autocentre, Topps Tiles, Toolstation, Euro Car Parks, Edmundson Electrical, Bathstore and City Electrical Factors.


Description

The subject property is of 1990s construction and provides production/high bay warehouse accommodation along with ancillary office accommodation split into two separate self-contained units. The building is of steel portal frame construction with external profile cladding. Separate offices are under construction for Brooke Homes to be completed April 2017.

The Menzies unit is used primarily for production, distribution and regional administration and has the following features:

• 6m eaves rising to 7.5m
• 2 level access loading doors
• Ancillary office space over 3 floors
• 85 demised car parking spaces
• 43m yard depth

The Brooke Homes unit is used for production, storage and distribution of construction materials with the following features:

• 13m eaves
• 2 level access loading doors with 2 new doors being installed as part of the construction programme
• 43m yard depth
• Lighting throughout
• Newly installed first floor office accommodation
• 43 demised car parking spaces

Proposal
Offers sought in excess of £8,120,000 (Eight Million, One Hundred and Twenty Thousand Pounds) for the freehold interest in the property, subject to contract and exclusive of VAT. A purchase at this price reflects a net initial yield of 7.00%, having allowed for purchasers costs of 6.67% and a low capital value of £72.21 psf.

Tenure:

Freehold

FLOOR
STATUS
Sq Ft
Sq M