Hume Avenue, Tilbury, RM18
Description
An attractive 0.6 acre IOS investment opportunity, offering a net initial yield of 8.34% secured against a new 15-year lease with AAT Quality Cars. The lease falls outside the Landlord & Tenant Act 1954 and reflects a passing rent of £3.00 psf (£79,175 per annum), with upwards-only rent reviews at the 5th and 10th anniversaries providing a clear platform for income growth.
The property extends to approximately 0.6 acres and benefits from B* planning consent. Lease commencement is subject to the discharge of planning conditions and completion of utility connections, anticipated within 6-8 weeks.
Features at a glance
- Rare 0.6 acre IOS freehold opportunity
- Let on a 15 year lease
- 8.34% Net Initial Yield
- Passing rent of £3.00psf
- Upwards only reviews (Year 5 & 10)
Location
Key property details
- Property type(s)
- Open Storage
- Tenure details
- Freehold £925,000 Guide price
- Property agent(s)
- Tyler Smith James Butcher
- Carter Jonas reference
- 20020026
Description
An attractive 0.6 acre IOS investment opportunity, offering a net initial yield of 8.34% secured against a new 15-year lease with AAT Quality Cars. The lease falls outside the Landlord & Tenant Act 1954 and reflects a passing rent of £3.00 psf (£79,175 per annum), with upwards-only rent reviews at the 5th and 10th anniversaries providing a clear platform for income growth.
The property extends to approximately 0.6 acres and benefits from B* planning consent. Lease commencement is subject to the discharge of planning conditions and completion of utility connections, anticipated within 6-8 weeks.
Features at a glance
- Rare 0.6 acre IOS freehold opportunity
- Let on a 15 year lease
- 8.34% Net Initial Yield
- Passing rent of £3.00psf
- Upwards only reviews (Year 5 & 10)
Location
Key property details
- Property type(s)
- Open Storage
- Tenure details
- Freehold £925,000 Guide price
- Property agent(s)
- Tyler Smith James Butcher
- Carter Jonas reference
- 20020026