Supernova, Canning Town. Gerry Young AND Matt Moran.

Industrial & logistics, Investment, Lease advisory

Canmoor

This project was worked on by the following people, working in partnership from across our business…

Key information

Investment Disposal of Supernova, Canning Town

Montagu Evans advised Canmoor on the disposal of their long leasehold interest (173 years unexpired) to Golden Eye Developments for £4,430,000 in May 2019, reflecting a capital value of £447 psf and Net Initial Yield of 4.24%.

A unique opportunity to acquire an inner London warehouse on a secure, self-contained site of 0.51 acres.

• Positioned in an exceptionally well connected location, just 1 mile from the A13, providing direct access to Central London in just 20 minutes.
• The unit comprises 9,902 sq ft of industrial accommodation, comprehensively refurbished in 2018.
• Total income of £200,000, which reflects an immediately reversionary rent of £20.20 sq ft.
• Let to The Hireman (London) Limited on a brand new lease for a 10 year term expiring 6th November 2028.
• The property is held by way of a Long Leasehold interest from the Mayor and Burgesses of the London Borough of Newham for a term of 200 years from 25 March 1992 (173 years unexpired) at a peppercorn rent.
• The purchase reflected a capital value of £447 per sq ft; the highest value per sq ft achieved in Canning Town for industrial accommodation at the time of sale.
• Montagu Evans’ industrial agency team acted for Canmoor on the occupational deal prior to the sale.

Pacific House, Reading. Tom Paton-Smith.

Offices, Investment, Planning, Residential

Clearbell Capital

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