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The management team successfully negotiated a new 15 year lease with fixed rental uplifts.

A new 4,090 sq ft extension was funded for the warehouse which was delivered on budget and on time.

103 Bashley Road

 

38,296 sq ft of industrial space in a prime location.

Originally let to TNT UK Ltd on a short term lease.

Gallery

Investment overview

  • Sector: Industrial
  • Project type: Value Add
  • Parties involved: KE / Space
  • Equity source: KE / Space/ Family Office
  • Hold Period: 2.5 years
  • Purchase Date: March 2012
  • Purchase Price: £4,300,000
  • Entry Rent psf: £7.83
  • Entry Vacancy: 0%
  • Capex: £865,000
  • Sale Date: November 2014
  • Sale Price: £8,100,000
  • Exit Rent psf: £10.27
  • Exit vacancy: 0%
  • IRR: 23%
  • Ungeared Equity Multiple: 1.6x