RUSSELL HOUSE MOLESEY ROAD, WALTON-ON-THAMES KT12 3PJ
INDUSTRIAL INVESTMENT WITHIN THE M25 FOR SALE RUSSELL HOUSE MOLESEY ROAD, WALTON-ON-THAMES KT12 3PJ
HERSHAM STATION Outline for indicative purposes only.
INDUSTRIAL INVESTMENT WITHIN THE M25 FOR SALE RUSSELL HOUSE MOLESEY ROAD, WALTON-ON-THAMES KT12 3PJ
INVESTMENT CONSIDERATIONS
Industrial building extending to circa 23,031 sq ft NIA providing Fully let to various tenants producing £193,238 per annum which reflects 51 car parking spaces £8.39 per sq ft Situated in an established industrial area in the affluent London suburb Located approximately 0.2 miles from Hersham Train Station of Walton-on-Thames Offers invited in excess of£2,500,000 (Two Million and Five Hundred Nearby tenants include Travis Perkins (adjacent), Screwfix, Howdens, Thousand Pounds) for the freehold interest, which reflects a net initial Tool Station and Tesco yield of 7.27% representing £109 per sq ft on the net internal area
INDUSTRIAL INVESTMENT WITHIN THE M25 FOR SALE A505 Stevenage Dunstable Stansted Luton LUTON A120 A418 A10 A5 A602 M1 A1(M) A44 A131 A130 A34 Aylesbury Harpenden Hertford A40 A414 M11 A41 Hemel Harlow A12 OXFORD Hatfield Hempstead St Albans A4142 Thame M10 A414 Chelmsford A138
A420 J21 A414 A404 Chipping A4010 Chesham J20 Epping J23 Ongar J19 J25 M25 J27 High Borehamwood M25 Watford Enfield Wycombe A355 A1 RUSSELL HOUSE M1 M11 A130 Beaconsfield Woodford Billericay MOLESEY ROAD, WALTON-ON-THAMES KT12 3PJ A413 Green J28 Wickford M40 Harefield A404 J2 A10 A127 A12 J29 Marlow Ruislip Basildon J16 Hampstead Romford Wembley Uxbridge A40 Southend-on-Sea HurleyMaidenhead A34 Canvey SLOUGH A13 M25 Island A404(M) SouthallLONDON London Eton J15 M4 City Windsor Hounslow A2 READING Clapham M4 Heathrow Dartford Gravesend A329(M) Egham Ashford Sheerness Bracknall Kingston J2 Upon Thames A20 Ascot J12 Bromley M3 A23 A322 J3 Rochester Gillingham Croydon WALTON-ON-THAMES A232 A21 M2 M25 M20 M25 Sutton Sandhurst Epsom Sittingbourne Snodland J10 Woking A217 A339 Biggin Hill A22 D J9 J5 M26 M20 A M3 O BASINGSTOKE R N Fleet A331 M25 E A3 Maidstone D J7 Y J8 J6 A34 R Oxted D Aldershot A O Reigate A26 R GUILDFORD T Dorking CLICKS FOR STREET VIEW Redhill R U A21 Famham H N A A24 M Tonbridge R M23 A303 O Godalming N Horley Paddock Royal Esher Rugby Wood Staplehurst Gatwick Alton Witley Football Club Tunbridge Cranleigh Wells A229 A31 Crawley Three Bridges
D A264
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R Horsham Y
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D M A A23O Haywards R
W N Heath A L O TO Y W L N A P L A TO R N K PA R K LA N E
AD RO Hersham Golf Club LEY Hersham Station LIND
LOCATION SITUATION Walton-on-Thames is a market town in the Elmbridge borough of Surrey. The property is situated east of Molesey Road The town is located 17 miles south west of central London and 5 miles opposite the Esher Rugby club, in an established west of Kingston-upon-Thames. industrial area, some 2 miles east of the town centre. The town has excellent communication links, with the A3 located Occupiers within the estate include Travis Perkins approximately 2 miles to the south which in turn leads to the M25 (adjacent), Screwfix, Tool Station, Storage Mart, (jct 20) a short distance to the south west. In addition, the M3 (jct 1) Howdens and a Tesco express amongst other is some 3.7 miles to the north of the town, which links Surrey and the national and independent businesses. South West. Railway services are provided from Walton-on-Thames rail station, some 1.5 miles south of the town centre which provides services to London Waterloo with a fastest journey time of 24 minutes. Hersham Station is situated approximately 0.2 miles south of the property providing regular services to London Waterloo with a fastest journey time of 34 minutes.
Outline for indicative purposes only.
INDUSTRIAL INVESTMENT WITHIN THE M25 FOR SALE RUSSELL HOUSE MOLESEY ROAD, WALTON-ON-THAMES KT12 3PJ
UNIT 7 UNIT 6
© Crown Copyright, ES 100004106. For identification purposes only.
UNIT 1 DESCRIPTION The existing property comprises of predominantly Industrial space which extends to circa 23,031 sq ft over ground and first floors and we understand the existing use of the property to be class E(g). There is vehicular and pedestrianised access to the site is via Moseley Road, with car parking facilities on the forecourt (14 spaces) as well as an additional carpark at roof level (37 spaces), accessed via a ramp on the eastern side of the site. The property benefits from a ceiling height of 3m on both floors and the internal partitioning can be removed to create two open clear floors of circa 9,600 sq ft each if required. There is a further extension to the rear (Unit 7) providing additional ground floor space. The property has two loading bay access points, one for the ground floor on the north side of the site and one located on the vehicle ramp for the first floor.
SITE AREA 0.57 acres (0.23 hectares).
INDUSTRIAL INVESTMENT WITHIN THE M25 FOR SALE RUSSELL HOUSE MOLESEY ROAD, WALTON-ON-THAMES KT12 3PJ
TENURE Freehold.
SCHEDULE OF ACCOMMODATION & TENANCIES The property is fully let to 6 tenants on 7 FRI leases and currently produces £193,238 per annum and offers potential for future rental growth by way of asset management. See below the full tenancy schedule.
Unit Floor Tenant Sq ft Lease Start Expiries/Breaks Rent £ pa Rent £ psf Comments Unit 1 First Floor Zed Tunnel Guidance Ltd 296 21/12/2012 20/12/2022 £31,562 £10.65 Unit 2 & 5 Ground & First Floor Blackfast Chemicals Ltd 3,190 15/07/2015 14/07/2022 £31,089 £9.74 10 car spaces. Rent deposit £13,408.75 + VAT. Unit 2a & 2b First Floor Automatic Optical Test Ltd 511 09/08/2019 12/22/2022 £3,320 £6.02 Outside L&T Act. (12/22/2020) Tenant has exercised break option. Unit 3a First Floor Zed Tunnel Guidance Ltd 349 26/01/2017 20/12/2022 £3,091 £8.85 Outside L&T Act. Unit 3b, 4 & 8 First Floor Armour Home Electronics Ltd 3,473 06/11/2018 20/12/2022 £41,676 £12.00 Rent deposit of £10,419 + VAT. Outside L&T Act. S/C cap £12,155 pa.
Unit 6 Ground Floor Interior Fabrics Ltd 6,838 20/11/2017 19/11/2022 £60,000 £8.77 £36,000 rent deposit drawn down 18/5/20. Outside L&T Act. 14 car park spaces. S/C cap £34,190 (rises annually in line with CPI).
Unit 7 Ground Floor S & C Brewell t/a G S Precision 5,706 25/12/2012 24/12/2022 £22,500 £3.94 Total 23,031 £193,238
The tenants are fully up to date in regards to rent payments as of September Quarter Date.
INDUSTRIAL INVESTMENT WITHIN THE M25 FOR SALE EPCs VAT Available upon request. The property is elected for VAT and we would expect the transaction to be treated as a Transfer of a Going Concern.
ARTICLE 4 The site is within an area covered by an Article 4 direction (which covers Hersham Trading Estate (including North Weylands Trading Estate) and removes the permitted development right for change of use from office to residential. As such, planning permission would be required for the change of use of Russell House to residential.
ANTI-MONEY-LAUNDERING A successful bidder will be required to provide information to satisfy the AML requirements when Head of Terms are agreed.
DATAROOM For access to the Allsop dataroom please use the following link: https://datarooms.allsop.co.uk/register/RussellHouse
PROPOSAL Offers invited in excess of£2,500,000 (Two Million and Five Hundred Thousand Pounds) for the freehold interest, which reflects a net initial yield of 7.27% representing £109 per sq ft on the net internal area
CONTACT For further information or to make arrangements for viewing please contact:
Alex Butler Siobhan Badman Chris Incledon Jordan Oldfield 020 7543 6722 020 7543 6841 020 7183 2529 020 7183 2529 [email protected] [email protected] [email protected] [email protected]
allsop.co.uk kingsbury-consultants.co.uk
On the instructions of:
Misrepresentation Act: 1. Allsop LLP and Kingsbury on its own behalf and on behalf of the instructing party of this portfolio whose agent Allsop and Kingsbury is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the instructing party does not make or give, and neither Allsop or Kingsbury nor any of their members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the instructing party are those contained and expressly referred to in the written contract for sale or agreement for lease between the instructing party and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Kingsbury is the trading name of Kingsbury Investment & Development Consultants Ltd registered in England No: 06869268. Design: Command D - www.commandHQ.co.uk 11.20