FLETCHER KING REINFORCE industrial CREDENTIALS WITH £46M ORPINGTON SALE
Having completed over £240m of industrial property transactions in the last two years, Fletcher King are delighted to be bringing the sale of Orpington Gateway to the market.
Fletcher King are at the forefront of the South East industrial investment market.
As a result Fletcher King are well placed to advise on the sale of the is exciting development. Orpington Gateway is a prime, newly developed industrial and trade scheme situated in a prominent position on Cray Avenue in the town’s principal industrial area.
Developed by Goya to an institutional-plus specification and benefiting from numerous eco initiatives, the whole scheme is due for practical completion by June 2019. The development comprises 14 industrial units totalling 148,962 sq ft GEA in units from 4,176 to 33,465 sqft with an ERV of £2,373,949 per annum reflecting £15.95 overall. The site extends to 5.9 acres (2.4 hectares) reflecting a site density of 49%
Fletcher King are seeking offers in excess of £46,800,000 (subject to contract and exclusive of VAT). reflecting a net initial yield of 4.75% and a capital value of £314 per sq ft, assuming purchasers costs of 6.78%.