Unit 7, Delaware Drive, Tongwell, Milton Keynes, Buckinghamshire
For Sale: Offers in excess of £4,750,000
43,460 Sq Ft (4,037.43 Sq M)
Freehold
Site Area 2.25 Acres
Single let investment
Industrial unit with ground and first floor offices
Passing rent of £360,978 pax
Fixed rent review on 12th March 2025 rent increasing to £371,804 pax.
Low capital value of £109 psf.
Property Description
A prime single let industrial investment in the sought after South East of England with strong potential of rental uplift on lease expiry.
Milton Keynes is based in a strategic location lying immediately to the west of the M1, 30 miles to the north of the M25 (Junction 21) and 46 miles north of London city centre.
Unit 7 Delaware Drive is let to Supreme Wheels Direct Ltd on the following terms
A tenure full repairing & insuring lease from 12 Mar 2020 expiring 11 Mar 2030
Passing rent of £360,978 per annum (£8.30 per sq ft)
Tenant only break on 12 Mar 2025 with 6 months prior written notice (not exercised)
Fixed rent review on 12th March 2025, increasing rent to £371,804 pa (£8.55 psf)
The lease is subject to a photographic schedule of condition
The lease is contracted inside the 1954 Landlord & Tenant Act (part II) as amended
Prime single let industrial investment within the Milton Keynes Industrial Hub. Looking for offers in excess of £4.75m.
Reflecting a NIY of 7.13% and a reversionary yield of 8.16%.
Contact
Connor Harrington
07811 804967