Industrial – Sale and Leaseback – Done!
Kinney Green Industrial are delighted to confirm the completion on the sale and lease back of Essence House, Thorpe Industrial Estate, Egham, TW20 8RN – a total of 2 multi-let industrial units totalling c.20,000 sq.ft. on behalf of an international client.
Bearing in mind the current industrial market, demand was high, rent rises and diminishing supply (270 acres of industrial land lost per year to other uses). Despite our only approaching known parties, the property ultimately achieved a sale price of £3,805,000 – significantly above quoting. This reflects a NIY of 5.7% after purchasers costs at 6.7% or capital value of £190 psf. Highlighting the current strength of the industrial market within the UK at present.
Kinney Green provide expert advice across all this sector. Should you require any commercial property advice in respect of acquisitions, disposals, rent reviews, lease renewals or business rates, please speak to either Neil Warwick for an informal, non-committal conversation about how we are able to assist.