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Asparagus Point A-H Asparagus Way 39,747 SF Industrial Building Evesham WR11 1GN $6,596,933 CAD ($165.97 CAD/SF) 6.75% Cap Rate
Investment Highlights
- Modern steel portal frame construction
- Excellent motorway and regional connectivity
- Two secure service yards
Executive Summary
The property comprises a modern warehouse constructed in 2019 and is of steel portal frame construction with metal clad roof and elevations. Original plans were for the development to comprise an 8 unit industrial estate, however as a result of a pre-let to the tenant the unit is now occupied in its entirety with no dividing walls. This offers the benefit of future occupation by one or a range of users subject to insertion of internal walls and division of services. There are offices to the ground and first floors which are tenant alterations.
A purchase at this level would reflect a net initial yield of 6.75% and a very low capital value of £88.94 per sq.ft, assuming usual costs of purchase of 6.51%.
The property is single let to Online Home Retail Limited for a term of 10 years with effect from 01/11/2019, expiring on 31/10/2029. The current passing rent is £254,150 p.a. (£6.39 per sq.ft).
A purchase at this level would reflect a net initial yield of 6.75% and a very low capital value of £88.94 per sq.ft, assuming usual costs of purchase of 6.51%.
The property is single let to Online Home Retail Limited for a term of 10 years with effect from 01/11/2019, expiring on 31/10/2029. The current passing rent is £254,150 p.a. (£6.39 per sq.ft).
Property Facts
| Price | $6,596,933 CAD | Lot Size | 2.47 AC |
| Price Per SF | $165.97 CAD | Rentable Building Area | 39,747 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 6.75% | Year Built | 2019 |
| Tenure | Freehold | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 0.51/1,000 SF |
| Property Subtype | Warehouse | No. Dock-High Doors/Loading | 2 |
| Building Class | B | No. Drive In / Grade-Level Doors | 4 |
| Price | $6,596,933 CAD |
| Price Per SF | $165.97 CAD |
| Sale Type | Investment |
| Cap Rate | 6.75% |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 2.47 AC |
| Rentable Building Area | 39,747 SF |
| No. Stories | 1 |
| Year Built | 2019 |
| Tenancy | Single |
| Parking Ratio | 0.51/1,000 SF |
| No. Dock-High Doors/Loading | 2 |
| No. Drive In / Grade-Level Doors | 4 |
Amenities
- 24 Hour Access
- Bus Line
- Commuter Rail
- Courtyard
- Fenced Lot
- Front Loading
- Wheelchair Accessible
- Yard
- Energy Performance Rating - A
- Automatic Blinds
- Air Conditioning
Utilities
- Lighting
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Asparagus Point | A-H Asparagus Way
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