Montagu Evans advised The Milton Group on the disposal of the freehold interest in the estate to Elmbridge Borough Council £14,075,000 in January 2018, reflecting a capital value of £242 psf and Net Initial Yield of 3.67%.
Montagu Evans’ planning team provided advice to The Milton Group prior to the sale whilst the residential team assisted with viability advice in relation to residential redevelopment.
• The industrial estate comprises 3.82 acres positioned just 2.5 miles from the A3, providing direct access to Central London in just 25 minutes.
• The estate comprises 58,083 sq ft of industrial accommodation across 12 units.
• At the time of sale, the property was fully let to 9 tenants with a WAULT of 6.1 years to expiry and 2.2 years to break.
• The total annual rent is £551,932 per annum which equates to a low average rent of £9.50 per sq ft.