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Eurogate Business Park, Ashford, TN24 8XW
not specified / Offices
Withdrawn - Last updated: 15 April 2023
- Ashford benefi ts from excellent transport links providing easy access to London, the national motorway network and continental Europe.
- The property is 5 minutes drive time to Ashford International which has direct high speed trains to King’s Cross St Pancras (38 minutes) and Paris (2 hours 15 minutes).
- Ashford has been designated by the Government as a growth area with a £2.5 billion investment programme under way to provide 31,000 news homes and 28,000 jobs by 2031.
- The property is situated in a prominent position adjacent to Junction 9 of the M20 and close to the ongoing development at Eureka Park.
- The property comprises seven office buildings with a total area of 59,827 sq ft arranged around a central car park on an attractive, landscaped office campus.
- 349 car parking spaces providing an excellent ratio of 1:171 sq ft.
- The property is held freehold and let to three tenants on four leases producing a rental income of £524,000 per annum which equates to a low overall base rent of only £12.68 per sq ft.
- 57% of the total income is secured against the undoubted covenant of Kent County Council.
- Asset management opportunities to improve the income profile and running yield.
- Offers are sought in excess of £4,500,000 (Four Million, Five Hundred Thousand Pounds) subject to contract and exclusive of VAT.
- A purchase at this level reflects an attractive net initial yield of 11% after deducting purchaser’s costs of 5.8%. This equates to a low capital value of only £75 per sq ft. On letting the vacant units, the reversionary yield is 15.3%.
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