This project was worked on by the following people, working in partnership from across our business…
- Gerry Young Partner, Commercial Agency and Advisory
- Chris Kerrison Surveyor, Commercial Agency and Advisory
- Andrew Veitch Partner, Commercial Agency and Advisory
- Jonathan Best Partner, Planning & Heritage
- Matthew Rickman Surveyor, Investment
- John Hulme Head of Industrial and Logistics Sector Partner, Commercial Agency and Advisory
Advised Aberdeen Standard Investments on the sale of the long-leasehold interest of this industrial and trade park investment to Valor Real Estate Partners for £29,750,000, reflecting 4.02% NIY.
Westgate 40 comprises 130,364 sq ft across 12 industrial, automotive and trade units built in 200
• Prime location close to the A40 in West London
• Fully let to 10 tenants on 11 leases providing a WAULT of 6.8 years.
• 112 year long leasehold interest with 5% pay-away, reviewed every 5 years to OMRV.
• 2 units sold off on co-terminus long leases.
• Gross income of £1,349,672 pa, reflecting £12.57 psf overall.
• Reversionary to £1,672,957 pa, reflecting £15.89 psf overall.
• There was collaboration with lease advisory in terms of a number of outstanding rent reviews including the headlease and Planning relating to some complicated title issues.