43-53 Markfield Road, Tottenham, London N15 4QA
Freehold - Highly Reversionary London Industrial Investment - Let To Winner Foods Limited - Prime Industrial Location
- Tottenham is located within the London Borough of Haringey, approximately 11.0 km (7 miles) north of Central London and is benefiting from significant regeneration projects.
- Situated on the south side of Constable Crescent approximately 0.5 mile from Tottenham Hale underground station and 0.5 mile from Seven Sisters underground station.
- Semi-detached industrial building arranged over ground and 1st floors providing a total gross external area of 15,118 sq ft (1,404.4 sq m) with a shared yard to the front.
- Let to Winner Foods Limited, who have been in occupation since 1992, for a term of 10 years from 24th June 2017, subject to a mutual break option on 24th June 2022.
- Current rent of £105,000 per annum which equates to only £6.95 per sq ft.
- Highly reversionary with industrial buildings in the location currently achieving rents in the region of £18 per sq ft.
- The vendor is seeking offers in the region of £3,400,000 (Three Million, Four Hundred Thousand Pounds) subject to contract, for the benefit of their freehold interest. A purchase at this level would reflect a net initial yield of 2.89%, a reversionary yield of 7.49% based on an ERV of £18 per sq ft, after allowing for purchasers costs of 6.8%, and a low capital value of £225 per sq ft.