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52-56 Standard Rd
42,756 SF 96% Leased Industrial Building London NW10 6EU $14,802,109 ($346/SF) 6% Cap Rate
Investment Highlights
- Comprised over the ground and first floor
- Secure off street parking
- Potential for further development expansion
- PV Solar energy
Executive Summary
• Excellent road connections with access to the A40 connecting Park Royal to Central London to the east and the M25/M40 interchange to the west.
• Serviced Business Centre totalling 42,756 sq ft (3,972 sqm) Gross External Area (GEA).
• Entirely let to Artistic Spaces Limited on fully repairing & insuring terms on a new 15 year leaseback guaranteed by Artistic Spaces
Group Limited, with Retail Price Index (RPI) linked rent reviews compounding 5 yearly with collar and cap at 1.5% to 4%.
• Landlord only option to break on 25/3/2028 and 25/3/2033 subject to 6 months notice, for future development optionality.
• Initial leaseback rent of £750,000 per annum, reflecting a reversionary rent of £17.54 per sq ft, with prime industrial rents in Park Royal in
excess of £30.00 psf.
• Trading with 98.7% passing occupancy with 6yr track record onsite, with no rental arrears from sub-tenants.
• Vendor recently installed 84 KWP solar photovoltaic system to the roof, boosting the building’s energy efficiency and ESG credentials.
• The site extends to approximately 0.76 acres (0.38 hectares) with a further 0.141 acres (0.057 hectares) available for further development.
• Freehold.
• Artistic Spaces Limited has a Net Worth of £12.65m & Total Assets of £39.1m. Artistic Spaces Group has Net Assets of £19.2m &
Total Assets of £70m. Artistic Spaces have a wider estate of 16 properties, with a combined footprint of over 500,000 sq ft.
• Option to develop a further 13,950 sq ft of workshop studios (GIA) on the existing car park, with pre-let to Artistic Spaces on mirror
lease terms to the main building. Artistic Spaces have a desire to commit to a rental of £250,000 per annum to forward commit
this development, subject to final planning approvals and side agreement.
Offers invited in excess of £11,650,000 (Eleven Million Six Hundred Fifty Thousand Pounds), representing a Net Initial Yield of 6.0% assuming purchaser’s costs of 7.5% on the core leaseback.
Potential car park development forward commitment to be agreed by further negotiation (STPP).
Financial Summary (Actual - 2022) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $14,802,109 | Property Subtype | Showroom |
| Price Per SF | $346 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.00 AC |
| Cap Rate | 6% | Rentable Building Area | 42,756 SF |
| Sale Conditions | Sale Leaseback | No. Stories | 2 |
| Tenure | Freehold | Year Built/Renovated | 1974/2020 |
| Property Type | Industrial | Parking Ratio | 0.7/1,000 SF |
| Price | $14,802,109 |
| Price Per SF | $346 |
| Sale Type | Investment |
| Cap Rate | 6% |
| Sale Conditions | Sale Leaseback |
| Tenure | Freehold |
| Property Type | Industrial |
| Property Subtype | Showroom |
| Building Class | B |
| Lot Size | 1.00 AC |
| Rentable Building Area | 42,756 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1974/2020 |
| Parking Ratio | 0.7/1,000 SF |
Amenities
- Bus Line
- Metro/Subway
- Security System
- Signage
- Automatic Blinds
- Storage Space
- Demised WC facilities
MAJOR TENANTS Click Here to Access
- Tenant
- Industry
- SF OCCUPIED
- RENT/SF
- Lease End
-
- -
-
99,999 SF
-
$9.99
- -
Back in 2010 George and Joe started Artistic Spaces with the sole aim of making workspace affordable. Two St Martins Fine Art Graduates they aspired to be able to run their arts practice from a space that was not just inspiring but sustainable and affordable as well. By adopting the simple model of chopping up their studio they were able to reduce their overheads while also creating an environment that was conducive not just to the arts but to enterprising individuals and companies. As their focus shifted from their own art and more into creating these environments Artistic Spaces really came to be. Year on year the company has grown and now operates across a large part of London with some 200 units ranging from 100sq ft to 10,000 sq ft.
| Tenant | Industry | SF OCCUPIED | RENT/SF | Lease End | ||
|
|
- | 99,999 SF | $9.99 | - |
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
Light industrial storage/retail/manufacturing unit with mezzanine space which could be used as an office or additional storage. There is a kitchenette and WC on the 1st floor. There is also a communal post/delivery area and on-site café. Service charge includes water, communal cleaning, refuse collection (bi-weekly). NB electricity is billed separately charged via a meter. Parking is available in the rear carpark at a cost of £150 pcm or on a daily rate of £2.50 per vehicle.
Light industrial unit arranged over ground floor and mezzanine with concrete flooring, security shutter, 3 phase power supply, WC’s and kitchenette . Parking is available in the rear carpark by separate negotiation. There is an on-site caretaker and coffee shop. Service charge includes electricity, water, communal cleaning, refuse collection (bi-weekly). *Free Wi-Fi internet connection. Suitable for workshops, storage and food production etc.
Large Open Plan Industrial Units To Let 52-56 Standard Road comprises a number of industrial units of varying sizes suitable for a wide range of industrial occupiers including workshops, storage, and food production. These units have been recently refurbished and all benefit from 3 phase electricity, onsite parking availability, and an onsite café. Features: - CCTV - Concrete Flooring - Within Walking Distance of North Acton Station - On-Site Caretaker - Off Street Parking Availability - On-Site Cafe - Additional Parking Available By Separate Negotiation - Security Shutters
| Space | Size | Space Use | Condition | Available |
| Ground - 24 | 750 SF | Industrial | Shell Space | Now |
| Ground - 36-37 | 1,135 SF | Industrial | - | Now |
| Ground - 36/37 | 1,135 SF | Industrial | Shell Space | 30 Days |
Ground - 24
| Size |
| 750 SF |
| Space Use |
| Industrial |
| Condition |
| Shell Space |
| Available |
| Now |
Ground - 36-37
| Size |
| 1,135 SF |
| Space Use |
| Industrial |
| Condition |
| - |
| Available |
| Now |
Ground - 36/37
| Size |
| 1,135 SF |
| Space Use |
| Industrial |
| Condition |
| Shell Space |
| Available |
| 30 Days |
Ground - 24
| Size | 750 SF |
| Space Use | Industrial |
| Condition | Shell Space |
| Available | Now |
Light industrial storage/retail/manufacturing unit with mezzanine space which could be used as an office or additional storage. There is a kitchenette and WC on the 1st floor. There is also a communal post/delivery area and on-site café. Service charge includes water, communal cleaning, refuse collection (bi-weekly). NB electricity is billed separately charged via a meter. Parking is available in the rear carpark at a cost of £150 pcm or on a daily rate of £2.50 per vehicle.
Ground - 36-37
| Size | 1,135 SF |
| Space Use | Industrial |
| Condition | - |
| Available | Now |
Light industrial unit arranged over ground floor and mezzanine with concrete flooring, security shutter, 3 phase power supply, WC’s and kitchenette . Parking is available in the rear carpark by separate negotiation. There is an on-site caretaker and coffee shop. Service charge includes electricity, water, communal cleaning, refuse collection (bi-weekly). *Free Wi-Fi internet connection. Suitable for workshops, storage and food production etc.
Ground - 36/37
| Size | 1,135 SF |
| Space Use | Industrial |
| Condition | Shell Space |
| Available | 30 Days |
Large Open Plan Industrial Units To Let 52-56 Standard Road comprises a number of industrial units of varying sizes suitable for a wide range of industrial occupiers including workshops, storage, and food production. These units have been recently refurbished and all benefit from 3 phase electricity, onsite parking availability, and an onsite café. Features: - CCTV - Concrete Flooring - Within Walking Distance of North Acton Station - On-Site Caretaker - Off Street Parking Availability - On-Site Cafe - Additional Parking Available By Separate Negotiation - Security Shutters
-
Jonny Doulton -
Neal Matthews -
Strettons
Presented by
52-56 Standard Rd
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