South Crescent, Canning Town, London, E16
Size
1,838 - 16,685
Tenure
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EPC
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Parking
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- Primary use
- Other
- Other use(s)
- Warehouse, Light industrial, Industrial park
No floor / site plan
Key features
- Let to G.B.N. Services Limited and R.V.L. Properties Limited until 23 April 2029, and sublet to Pulse Environmental Limited
- Passing rent of £500,000 per annum
- Rent materially below prime quoting rents in the Canning Town vicinity of £35.00 psf+ for warehouse space and £7.50 psf+ for yards
- 3 level access loading doors, eaves heights of 7.4m to 11m, and a secure, fully surfaced yard
- Long Leasehold 162 years expiring 23 June 2189.
- We are instructed to seek offers in excess of £8,000,000 (Eight Million Pounds), subject to contract and exclusive of VAT
- A purchase at this level reflects a net initial yield of 5.86%, assuming purchaser's costs of 6.67%
Description
The property is located in Canning Town, a prime East London industrial location in the London Borough of Newham. It is situated approximately 6 miles east of the City of London and 2 miles north east of Canary Wharf.
The property benefits from excellent strategic road communications. The A13 lies almost immediately to the south and provides direct access westbound to the City and Docklands, and eastbound towards Barking, Dagenham, Thurrock and the M25 at Junction 30. The A12 and the Blackwall Tunnel Northern Approach lie approximately one mile to the west, giving access to south east London and the A2/M2 or north east towards Essex. The A406 North Circular is approximately 4.5 miles to the east via the A13.
Description
The property comprises a self-contained industrial/warehouse building of steel portal frame construction with profile steel cladding to the elevations.
Rent
The property is let to G.B.N Services Limited (now Sortera Limited, Company number 02069980) and R.V.L Properties Limited (Company number 01423638) until 23rd April 2029. The current rent passing is £500,000 per annum and the lease is subject to a schedule of condition and is contracted Outside the L&T Act 1954. The lease also provides a rental deposit deed of £200,000, which is held until lease expiry.
The property is sublet to Pulse Environmental Limited (company number 07881267) until 20th April 2029, with the subletting also contracted outside of the L&T Act 1954.
EPC
The property has an Energy Performance Certificate rating of C/53 for the warehouse, valid until 23 April 2036, and D/91 for the office block, valid until 23
April 2036. A copy of the certificate and recommendation report is available upon request.
- Service charge
- £0
- Business rates
- £0
- Use class
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- Listed building
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An Energy Performance certificate helps you understand the current energy efficiency of a property.
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- BREEAM rating
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- Environmental description
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Brochure
South Crescent, Canning Town, London, E16
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Disclaimer - Property reference 52480FH. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Glenny LLP , East London. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.