Plot K, Hume Avenue, Tilbury, Essex, RM18

The property comprises a prominently positioned investment opportunity extending to approximately 0.425 acres (18,523 sq ft), including a warehouse unit of 6,905 sq ft with utilities connected and in working order.

The site is occupied by Tilbury Trading Ltd and is currently holding over, with a PACT decision anticipated imminently regarding lease renewal terms at a proposed passing rent of £55,000 per annum. A new 5-year lease contracted outside the Landlord & Tenant Act 1954 has been proposed.

The freehold interest is available at a quoting price of £560,000, reflecting a reversionary yield potential of approximately 9.2%.

Location

Tilbury is the main freight terminal for London on the River Thames, serving as a major freight hub for the southeast of England. Additionally, Tilbury is also home to the London International Cruise Terminal and the only cruise terminal directly accessing London via the Thames. The area has excellent access to the national road network via a dual carriageway link to the A13 and on to Junction 30/31 of the M25 London Orbital Motorway approximately five miles to the west. This will be further enhanced by the construction of the Lower Thames Crossing tunnel which is due to start construction in 2026.


VAT

All prices and premiums are exclusive of VAT under the Finance Act 1989.

Rating

From enquiries made of the VOA, we are advised that the property has a current Rateable Value of £47,250. Interested parties are advised to make their own enquiries of the relevant local authority.

Legal Costs

Each party to bear their own legal costs incurred in this transaction.

EPC

The property has an EPC rating of D-97.

Tenure Comments

The property is available on a freehold basis, further detail upon application.