EASTMAN WAY HEMEL HEMPSTEAD HP2 7DU
Prime logistics location within 1 mile of Jnc 8 of the M1 and 4.5 miles north of the M1/M25 intersection.
Modern well specified logistics unit extending to 41,292 sq.ft.(3,836 sq.m.) GIA with secure yard.
Let to 66 Books Ltd on a 10 year lease from 19th February 2018 giving an attractive unexpired term of c.9.75 years.
Current rent of £412,920 per annum, equating to just £10 psf per annum.
Excellent rental growth prospects
The tenant is a well established company which has been based on Maylands for 10 years.
Offers are invited in excess of £7,230,000 (Seven million, two hundred and thirty thousand pounds) for the freehold interest, subject to contract and exclusive of VAT.
A purchase at this level reflects a net initial yield of 5.35% and a capital value of £175 per sq.ft. after allowing for the usual purchaser’s costs of 6.7%.
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