Freehold Property to buy in Colchester

Key points

• • The property occupies a highly prominent and accessible position within Colchester's principal industrial and trade distribution area.
• • The properties comprise a substantial industrial estate extending to 27.93 acres (11.30 hectares).
• • 30 sites let to 26 different tenants, providing a diversified income stream with an attractive WAULT of 64 years.
• • Current contracted rent of £206,399.27 per annum, reflecting a very low average rent of £0.17 per sq ft and £7,389.61 per acre
• • Industrial land in Colchester has a value in excess of £500,000 per acre, underpinning the long term underlying land value of the portfolio.
• • Ongoing outstanding rent review negotiations with 9 leaseholders, offering the opportunity to capture immediate reversionary growth on proven rental evidence.
• • If these rent reviews are settled at their quoted rents, the passing rent of the estate increases to £302,224 per annum.
• • Recent reviews have settled at £0.58 per sq ft, establishing a new rental tone across the estate and providing strong evidence to support future rental growth at the 24 future rent reviews.
• • Freehold.