Multi let industrial estate investment in Grays

This property is marketed by:
Glenny

Summary

• Multi Let Industrial Estate in a dominant Essex Industrial market. 
• Located within Thurrock’s primary industrial area within close proximity to the M25. 
• Excellent transport communications with access to Junction 30/31 of the M25 and the A13 both within 5 minutes drive time. 
• The estate comprises 10 units providing 17,684 sq ft of Ground Floor GIA accommodation, with additional 1st floor accommodation of 4,295 sq ft. Unit sizes range from 949 sq ft to 2,428 sq ft. 
• The property is let to 9 tenants and benefits from a WAULT of 3.95 years to lease expiries and 2.54 years to lease breaks. 
• Current passing rent of £332,172 per annum, reflecting £18.78 psf (excluding 1st floor accommodation).
• Strong revisionary potential with the latest on-site letting achieving £22.47 psf and a very limited industrial supply in the Thurrock market.
• Freehold.

Description

The property comprises a purpose built multi-let industrial estate arranged over 14 units across 6 buildings. The accommodation is of steel portal frame construction with block-work inner walls and external brickwork elevations.

Access to each unit is available via a sectional roller shutter door with separate personnel access to a trade counter/ office area.

Internally, the units benefit from male and female WCs, partitioned office areas and provide a minimum height of 5 metres to eaves.

Externally, the forecourt and parking areas are of block paviour construction and provide ample parking in front of the units.

Location

West Thurrock is located on the northern bank of the Thames estuary, approximately 20 miles east of Central London and 1 mile west of Grays, Essex. The industrial district is immediately to the east of the M25 with the A13 to the north and the River Thames to the south.

West Thurrock forms an important strategic industrial and distribution location for London and the southeast due to its excellent motorway links and large catchment together with the Lakeside Shopping Centre.

West Thurrock is accessed via J30/31 of the M25, which provides access onto the M11, A1(M) and M1 to the northwest, and the M2 and M20 over the Dartford crossing to the south. London City, Stansted and Gatwick airports are all within a 40-mile radius while Chafford Hundred station provides direct rail connections to London Fenchurch Street with a journey time of 35 minutes.

West Thurrock is located in the district of Grays, which has a resident population of 26,879 and a catchment of 1,788,687 within 12.5 miles. The local population provides much of the labour force for the area’s busy industrial operations, together with the concentration of retail and retail warehousing surrounding the Lakeside shopping Centre.