Unit 4 Wharfside Alperton 7,918 SF Flex Building Wembley HA0 4PE $2,979,446 CAD ($376.29 CAD/SF) 6.74% Cap Rate

LOCATION
The property is located within the Wharfside Business Park Estate developed in the early 2000’s. The entrance is situated just after the junction of the A4089 Ealing Road and the A4005 Bridgewater Road, approximately half a mile from the Hanger Lane Gyratory. This provides access to the A40 Western Avenue and the A406 North Circular Road, thus providing access into Central London to the East and the national motorway network to the West. The premises benefits from excellent public transport links with Alperton Underground Station (Piccadilly Line) within a couple minutes’ walk of the unit. This provides access into Central London and to Heathrow Airport. The area is also served by numerous bus routes.
DESCRIPTION
The property is in a terrace of units within the Business Park and is of steel frame construction, with profile steel sheeting for the roof. The external walls are a mix of aluminium and brick. The main floor is concrete slab and we believe has a 25kn/sq.m load limit. The first floor office is constructed using pre-cast concrete planks with a floor loading we believe of 5kn/sq.m load limit. Windows are powder coated aluminium with double glazed sealed glass. The landlord has installed a mezzanine which is rentalised. Floor to haunch of the roof is 6.0m and floor finish to underside of suspended ceiling is circa 2.6m at ground floor and 2.7m at first floor. There is a main staircase to the front of the unit and a goods lift which has been installed post initial construction. There are currently 4 WCs and a single shower. Each floor has been fitted to provide suspended ceilings with integral light fittings with ceiling mounted heating / fresh air. There is a single loading door to a height of 4.35m with a loading area to the front of the property. The property benefits from three phase power.
LEASE
The property is let to Surface Measurement Systems Limited on a 10-year fully repairing and insuring lease commencing on 1st July 2021 and expiring on 1st July 2031. The lease includes an upward-only open market rent review on 1st July 2027 and a tenant-only break option on the same date, exercisable with a minimum of three months’ written notice. The current rent is £114,500 per annum. The rent analysis. The lease is contracted outside of the Landlord and Tenant Act. The lease contains a schedule of condition; this is available upon request.
TENANT
Surface Management Systems Limited are the world leaders in sorption science. Surface Measurement Systems develop and engineer innovative instrumentation for the advanced physico-chemical characterisation of complex solids. They combine their outstanding instruments with unparalleled aftersales care and educational resources to be the ideal sorption science research partner. Surface Management Systems Limited are wedded to the location and owner occupy Unit 5 Wharfside, the neighbouring unit. Surface Management Systems Limited Creditsafe Rating is 74, representing a ‘Very Low Risk’ rating.
TENURE
Freehold. Title Number - NGL 796312.
EPC
C – 65.
VAT
The Property is elected for VAT. It is anticipated that the transaction will be treated as a transfer of a going concern (TOGC).
DATAROOM
Full information is available on a Data Room. Access is available on request to the Sole Agent.
AML
Satisfactory anti-money laundering and compliance information will be required of the purchaser.
PROPOSAL
Seekings offers in excess of £1,600,000 (One Million, Six Hundred Thousand Pounds) reflecting a Net Initial Yield of 6.74% Net Initial Yield assuming normal purchasers costs. This represents a low capital value of £202 per sq ft.
FURTHER INFORMATION
For further information, or to request a viewing. Please contact sole agents, Koopmans. Aman Parmar amanp@koopmans.co.uk 07881349001