FOR SALE FREEHOLD OF INTEREST TO INVESTORS AND OWNER OCCUPIERS - Estate Agents Clearing House
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A DEVELOPMENT OF PART INCOME
PRODUCING MODERN HIGH TECH LIGHT FOR SALE FREEHOLD
INDUSTRIAL UNITS OF INTEREST TO INVESTORS AND OWNER
OCCUPIERS
TOTALLING 15,248 SQ FT (1,416 SQ M) APPROX
UNITS A, B & C
OAKCROFT BUSINESS CENTRE,
OAKCROFT ROAD, CHESSINGTON KT9 1RH
UNITS A, B & C OAKCROFT BUSINESS CENTRE, OAKCROFT ROAD, CHESSINGTON KT9 1RH 2
OPPORTUNITY SUMMARY
A rare opportunity to acquire three high tech industrial units
in a sought after inner M25 location.
Located on the established Chessington Industrial Estate.
Strategically situated approximately 1 mile from the A3
Kingston by-pass.
Three self contained two storey units situated around a
secure gated courtyard.
Unit A let to Thales Properties until 24th June 2021 at
£70,300 per annum. The lease is held inside the Landlord &
Tenant Act.
The Vendor will provide a 6 month rental guarantee
reflecting a rent at £16.50 per sq ft for Units B & C, whilst
Unit A rent is to be topped up for an equivalent period.
Units B & C are available with full vacant possession.
The asset provides 15,248 sq ft across the three units.
Prime quoting rents in the area are now at £16.50 per sq ft.
Site area 0.46 acres (0.186 ha).
Freehold.
We are instructed to seek offers in excess of £3,650,000
(Three million six hundred and fifty pounds) subject to
contract and exclusive of VAT, reflecting a capital value at
£239 per sq ft.
UNITS A, B & C OAKCROFT BUSINESS CENTRE, OAKCROFT ROAD, CHESSINGTON KT9 1RH 3
LOCATION
Chessington is an established industrial and warehouse centre within the south
west quadrant of Greater London being located 12 miles south west of Central
London, 3 miles south of Kingston upon Thames and 8 miles north of
Leatherhead.
The location benefits from excellent transport communications being adjacent to
the A3 which connects to central London as well as the M25 motorway
(Junctions 9 and 10) being 5 and 10 miles distance to the south west.
There is a frequent rail service to London’s Waterloo from Chessington North
and Tolworth railway stations, both within walking distance from the property,
with an approximate journey time of 35 minutes.
Heathrow International Airport is approximately 9 miles to the north west of the
property whilst Gatwick Airport is approximately 24 miles to the south east.
SITE PLAN
The site extends to approximately 0.459 acres (0.186 ha) and split as follows:
SITUATION
The property is prominently located halfway along Oakcroft Road within 500
metres of the A3 Kingston By-Pass which can be accessed from either the
Tolworth or Hook Roundabouts.
There are excellent communications available to the M25 (J9 and J10) which
offers access to the national motorway network and Heathrow and Gatwick
airports.
Tolworth Railway station is within walking distance offering a direct service to
London Waterloo (approximate journey time 35 minutes).
Tolworth To Central
Tower London
Tolworth
A3
To J10
of M25
OAKCROFT Oliver Bonas
BUSINESS Harro Selco
CENTRE Foods
Howdens
Screwfix
Prochem
Buildbase
Alliance
Healthcare
Artis Glass
Chessington
North
UNITS A, B & C OAKCROFT BUSINESS CENTRE, OAKCROFT ROAD, CHESSINGTON KT9 1RH 5
DESCRIPTION
The property comprises three 2 storey modern industrial units constructed in circa
1989 and situated around an enclosed gated courtyard which provides parking for up
to 30 vehicles.
The three buildings are of brick and block construction with part full glazed
fenestration under pitched steel insulated roofs.
Each unit has a dedicated roller shutter loading door and provides open plan
workshop space to the ground floor with first floor comfort cooled offices above.
There are male and female toilets on each floor and a shower in each unit.
The three buildings are all currently partitioned to provide varying sized offices and
workshop space with Units B & C currently linked at ground and first floor levels
having been previously occupied by a single tenant.
AMENITIES ACCOMMODATION
• Gas fired central heating • Max eaves height - 3.52m (11’ 6”) - UNIT SQ FT SQ M Parking
• Coded entry system Units B & C
A First Floor 2,802 260.3
• Carpet tiles • Min eaves height to the underside of
• Demountable partitions the suspended ceiling - 2.64m (8’ 8”) - Ground Floor 2,822 262.2
• Kitchenettes Units B & C Total 5,624 522.5 11 spaces
• Male and female WCs on each floor • Raised floors to offices B First Floor 2,391 222.2
• Roller shutter loading doors • Fully carpeted (Unit A offices)
Ground Floor 2,421 225.0
• Comfort cooling to offices • Double glazed tinted windows
• Shower in each unit • Three phase power Total 4,812 447.2 10 spaces
• Suspended ceilings with recessed • New CCTV with remote monitoring C First Floor 2,391 222.2
fluorescent lighting system Ground Floor 2,421 225.0
• Total of 30 car spaces
Total 4,812 447.2 9 spaces
Overall Total 15,248 1,416.9 30 spaces
UNITS A, B & C OAKCROFT BUSINESS CENTRE, OAKCROFT ROAD, CHESSINGTON KT9 1RH 6
OCCUPATIONAL MARKET
This sector of the Greater London area continues to suffer from a distinct lack of industrial and warehouse stock whilst demand, despite the Covid-19 issues, remains active from a
wide range of occupiers.
New speculative developments have been scarce in recent years with a steady erosion of industrial land and these contributing factors should lead to rent levels further increasing.
A summary of two storey industrial/warehouse and business space transactions that have occurred in the local market in recent years are outlined below.
At nearby Barwell Business Park, two storey units are being marketed at £17.50 per sq ft.
Size Rent
Date Property Tenant Lease
Sq Ft £psf
Apr 20 Unit 15, Kingsmill Business Park, Kingston Fire Systems 2,502 5 yrs 22.27
Feb 20 Unit 19, Kingsmill Business Park, Kingston Enertechnos Holdings Limited 2,528 5 yrs 22.51
Jan 20 Unit B, Argent Court, Tolworth Pacifica Group Limited 2,102 5 yrs 18.91
Oct 19 Unit 5, The Forum, Chertsey Full House Restaurant Holdings 2,079 10 yrs 23.00
Oct 19 Unit 2, Kingsmill Business Park, Kingston Atlantamed Limited 1,556 5 yrs 23.46
Unit 15, Teddington Business Park,
Aug 19 Wrap Architects 1,251 10 yrs 20.00
Teddington
Jul 19 10-12a Glenville Mews, Southfields Home Ascent 6,248 10 yrs 20.61
UNITS A, B & C OAKCROFT BUSINESS CENTRE, OAKCROFT ROAD, CHESSINGTON KT9 1RH 7
TENANCY RENTAL ANALYSIS
Unit A is let to Thales Properties Limited, a wholly owned subsidiary of Thales SA, a We estimate the breakdown of the rent to be as follows:
French aerospace company that has been operating for over 100 years. The property
is held on a full repairing and insuring lease for a term to expire on 24th June 2021 at a Passing Rent ERV
Area
Unit
passing rent of £70,300 per annum exclusive. Sq Ft
£pa £psf £pa £psf
The lease is granted inside the security of tenure provisions of the Landlord and Unit A 5,624 70,300 12.50 92,796 16.50
Tenant Act and the Tenant has yet to indicate their intention to renew the lease.
Unit B 4,812 - - 79,398 16.50
Unit C 4,812 - - 79,398 16.50
Total 15,248 £70,300 £251,592
COVENANT PROFILE
Thales Properties Limited was incorporated in 1973 and is involved in providing properties for its parent company’s various Aerospace and Defence interests in the UK. Thales SA
is a major French manufacturer with global sales so far in 2020 worth over 7.8 billion Euros.
Financial Year
Thales Properties Limited
2017 2018 2019
Turnover £19,306,000 £19,942,000 £18,278,000
Profit Before Taxes £(2,003,000) £(396,000) £(113,000)
Net Worth £31,047,000 £20,651,000 £70,235,000
Net Current Assets £50,792,000 £92,570,000 £89,879,000
UNITS A, B & C OAKCROFT BUSINESS CENTRE, OAKCROFT ROAD, CHESSINGTON KT9 1RH 8
FLOOR PLANS - not to scale for indicative purposes only TENURE
For sale freehold subject to the tenancy of Unit A.
PRICE
Offers in excess of £3,650,000 (three million six hundred and fifty pounds).
BUSINESS RATES
Units B&C Unit A
Rateable Value £100,000 £64,500
Rates Payable (20/21) £51,200 £33,024
EPCs
Unit A: D (91)
Units B&C: E (103)
VAT
We are advised the buildings are elected for VAT which will therefore be payable on
the purchase price unless the sale can be treated as a Transfer of a Going
Concern (TOGC).
VIEWINGS
Strictly by appointment through sole agents:
ANDY ARMIGER BOB CATTANEO
andy@cattaneo-commercial.co.uk bob@cattaneo-commercial.co.uk
020 8481 4741 020 8481 4744
Cattaneo Commercial Ltd
19-23 High Street
Kingston upon Thames
Surrey KT1 1LL
www.cattaneo-commercial.co.uk
Consumer Protection from Unfair Trading Regulations 2008
Cattaneo Commercial for themselves and for the vendors of this property whose agents they are give notice that: a) the partic ulars are set out as general outline only for the guidance of intending purchasers/tenants and do not constitute, nor constitute part of, an offer or contract; b) all descriptions, dimensions, references to condition and necessary permissions for
use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser/tena nt should not rely on them as statements or representations of fact but should satisfy themselves by inspection or otherwise as to the correctness of each of them; c) no person in the employment of Cattaneo Commercial has any authority to
make or give any representation or warranty whatever in relation to this property.
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