Sale of a Freehold Warehouse & Industrial Investment.
RIB’s Investment Team was mandated on behalf of Receivers with the sale of a Freehold Warehouse & Industrial Investment.
About the property
Park Royal is set to become the UK’s largest regeneration scheme which aims to facilitate the delivery of 25,500 homes and 56,000 jobs. This arises from the area’s relatively central location and strong transport links.
The property is located on Park Avenue, accessed off the A406 North Circular Road which provides a direct route into North London and the M1 motorway. Access to Central London is directly achieved via the A40 Western Avenue, with wider motorway networks in proximity being the M40, M25 & M4.
The property comprises a warehouse over ground floor with ancillary upper floors. The premises benefits from a gated forecourt / parking, providing loading facilities, as well as a goods lift servicing all floors. The property is single let in its entirety to Hadera Limited who are a food and beverage wholesaler, on a 10-year lease from 6th August 2021 at a rent of 130 000 pa.
After a comprehensive marketing campaign which resulted in a Best Bids process, we were able to agree terms with a private individual who completed the sale within the allotted timeframe