01892 552 500 01892 552 500Location
Tunbridge Wells is situated in northwest Kent, approximately 40 miles south-east of London and
benefits from good transport links, the M25 and national motorway network.
Decimus Park is accessed from Kingstanding Way which in turn leads on to Longfield Road, the latter
comprising the main distributor road serving the North Farm Estate. Access to the A21 dual carriageway
(via Longfield Road) is within 0.6 miles of the property, with the M25 (J5), approx. 14 miles to the north.
The closest main line railway station is High Brooms, about 1.5 miles away with journey times to London being approximately 50 minutes.
The subject property is located on an established out of town business and retail warehouse district known as North Farm Industrial Estate, comprising a variety of business units ranging from nursery ‘B1’ light industrial units through to large distribution warehousing, in addition to some significant recent retail warehouse developments. North Farm also includes a well-established motor vehicle dealership representation in addition to a leisure complex at Knights Park.
Description
Decimus Park comprises 28 no. high bay warehouse and business units, developed circa 2004.
Both units have undergone substantial improvements since they were originally constructed, with the
introduction of a mezzanine floor and new office space for Unit 18. More recently both building have
been subject to comprehensive refurbishment.
Floor Areas
Unit 17 Decimus Park
Main warehouse area – 3,572 sq ft (331.85 sq m)
Ground floor offices/wc and stairwell area
[Included in main warehouse area above – 839 sq ft (77.95 sq m)]
Mezzanine office/w.c./stairwell – 839 sq ft (77.95 sq m)
Total floor area (ground and mezzanine) – 4,411 sq ft (409.80 sq m)
Unit 18 Decimus Park
Ground Floor – Full height warehouse area – 4,825 sq ft (448.25 sq m)
Warehouse / production area underneath mezzanine offices – 2,333 sq ft (216.74 sq m)
Mezzanine Floor – open plan with demountable partitioned
offices – 2,333 sq ft (216.74 sq m)
Total floor area (ground and mezzanine) – 9,491 sq ft (881.74 sq m)
Total combined gross internal floor areas 13,902 sq ft (1291.54 sq m)
Amenities
Vacancy
Unit 17
Currently being offered to lease at £49,000 pax.
Occupational Tenancy
Unit 18
Tenant – Xylem Water Holdings Ltd.
Term – 15 years from 16th August 2024, on a full repairing and insuring basis (subject to a Schedule of Condition). The lease is within the security of tenure provisions of The Landlord & Tenant Act 1954 part II.
Rent – £92,500 pax
Rent Reviews – At the end of the 5th and 10th years , on an upward only basis.
Break Clause – Tenant option to determine the lease, at the end of the 10th year, on 6 months` notice.
Covenant Information
Xylem is a global water technology provider – www.xylem.com
Xylem Water Holdings Ltd was incorporated on 3rd May 2011.
Latest accounts to 31.12.22 show a turnover in excess of £240m – source: Companies House – www.gov.uk/government/organisations/companies-house
Further Information
Additional information and specific documents are available on request.
Guide Price
£2,250,000.
A sale at this level, assuming a letting of Unit 17 at the quoting rent, and adopting purchasers’ costs at 6%, shows a net yield of 5.9%.
