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Unit 3, Set Star Brentford TW8
Great location:
The Set Star Estate is situated on Transport Avenue, directly off the Great West Road (A4), in Brentford, just off the heart of the section known as the “Golden Mile”.
The premises are approximately 7.5 miles from Central London and 7.5 miles from Heathrow airport. Brentford town centre is approximately half a mile distance.
Brentford British Rail Station is less than 20 minutes’ walk from the subject property. Boston Manor underground station (Piccadilly Line) is the nearest London underground station, which is approximately 5 minutes’ drive from the property.
B2 Industrial use with 2,634 square feet of space
Description:
The property comprises a mid-terraced, self-contained, warehousing / business unit of steel portal construction with brick elevations, accessed from a private service road.
What we have done:
Acquired freehold in April 2017.
Refurbishment included asbestos removal, new insulated roof to meet modern u values, new roller shutter door, new windows, LED lighting and full re-decoration.
Key Statistics 2019:
Valuation; £700,000
Initial return on ‘value add’ 13%
Rental Yield, unlevered, 6.5%
Let on 10-year Internal Repairing basis to disaster recovery tenant.
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Investment breakdown
Investment Breakdown | £ 000's |
---|---|
Purchase Price | 440 |
Capex (inc taxes, fees & void) | 180 |
Capital Employed | 620 |
Valuation 2019 | 700 |
Asset Return | 13.00% |
Initial Rent (p.a) | 29 |
Initial Yield | 6.60% |
Annual Rent (post renovation) | 40 |
Gross Rental Yield | 6.50% |
Renovation Period | 7 months |
Void | 4 months |
Tenant | Disaster Care Capital |
Lease Term | 5 years (from Feb 2018) |