- 55 Kimber Road is a circa 16,000 sq ft industrial building with mezzanine.
- Although it is an industrial building, the current occupier womenswear brand Phase 8, has heavily fitted it out with offices and is currently utilising the space as their head office.
- We have worked closely with the private owner of this asset for a while completing a number of rent reviews and providing tenant advice.
- When it came to the latest rent review, our expert analysis found that the rent had increased from £220,000 to £400,000 per annum, one of the highest percentage increases in South London for the period.
- Having previously opted out of selling this asset, with the new rent doubling leading to a significant valuation, the owner decided to sell.
- The asset was acquired by Valor Real Estate Partners, a pan-European real estate platform with a focus on urban logistics, the £13m sale price providing a net initial yield of 2.96%.
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