Honda Car Showroom, 222 Cray Avenue, Orpington BR5 3PZ

Prime Greater London Investment Opportunity

Orpington is located in the Greater London conurbation, approximately 15 miles south east of Central London within the Borough of Bromley.
Situated in a prominent corner position on Cray Avenue in an established area of industrial and retail warehousing, diagonally opposite Nugent Shopping Park.
Modern well configured car dealership facility arranged over ground and first floors, totalling 17,469 sq ft (1,623 sq m) with 157 car parking spaces on a 1.27 acre site providing a low site coverage of 23%.
The property has an EPC score of B41.
Let to Brayleys Cars Limited with an AGA to Honda Motor Europe Limited for a term of 22 years from 13th October 2014.
Current rent of £316,329.75 per annum (£18.11 per sq ft).
RPI rental increases throughout the term of the lease capped at 4% per annum compounded and collared at 2.25% per annum compounded.
Freehold.
The vendor is seeking offers in excess of £4,740,000 (Four Million, Seven Hundred and Forty Thousand Pounds) subject to contract. A purchase at this level would reflect a net initial yield of 6.25% and a maximum reversionary yield of 7.60% in October 2027 after allowing for purchaser’s costs of 6.8%.