Ashford Thirty-Four Ashford, TN24 0HB
34100 sq ft Industrial
Property to buy or let in Ashford
Forward Funding Industrial Investment Opportunity
- Rare opportunity to forward fund a well specified, self-contained South East industrial warehouse unit.
- The property is located approximately 1.5 miles west of Junction 10 of the M20. Central London is located circa 55 miles to the north west and is accessed via the M20 and M25.
- The site is positioned on Monument Way off the A2070 in Orbital Park, Ashford alongside nationally renowned occupiers such as Toolstation, Screwfix, Howdens, Menzies Distribution, Maruwa Europe and Mercedes-Benz.
- Planning application submitted to Ashford Borough Council for a 34,100 sq ft (3,168 sqm) industrial warehouse unit. Decision expected on 31st March 2021.
- The proposed specification includes 3 dock level and 2 ground level loading doors, 10m eaves height, a secure 35m yard and a target EPC rating of A.
- The site comprises 1.78 acres of industrial land with a proposed site coverage of 40% based on the planning application details.
- The unit will be subject to a 12 month rent guarantee equating to a headline rent of £9.50 per sq ft, initiated on practical completion of the development.
- We are instructed to seek offers in excess of £5,790,000 (Five Million Seven Hundred and Ninety Thousand Pounds), subject to contract and exclusive of VAT, on the basis of a full funding.
- A purchase at this level reflects a Net Initial Yield of 5.25%, based upon full acquisition costs of 6.63% with an improvement to the yield subject to any SDLT savings.