Guide price
£1,450,000
(£128.89/sq. ft)
Parking/garage for saleKenhire Premises, Henwood Industrial Estate, Ashford, Kent TN24
11,250 sq. ft
About this property
Rare Industrial Investment Opportunity
Occupied by Kenhire Limited at a Combined Rent of £112,500 per annum (exc)
Hugely Popular Ashford Business - Trading Since 1949
Guide Price of £1.45m - Reflecting an Initial Gross Yield of 7.76%
0.82 Acre Site - Site Cover Ratio of 28%
Business Unaffected
The property is located towards the front of Henwood Industrial Estate, around half a mile from Ashford Town Centre, being an established and popular trading estate containing a mix of industrial/ warehouse units and modern office buildings.
Description
The property comprises a detached industrial/ workshop building of steel frame construction, having brick and block elevations beneath a mix of flat and pitched roofs, constructed in 1973. It has since been adapted and extended over time to create a vehicle workshop complex.
The buildings are all adjoining and interconnecting arranged a reception and offices to the front with workshops, vehicle spray booth, Bodyshop and associated buildings to the side and rear.
The property is finished to a good modern standard. The offices are constructed to an air conditioned (heating and cooling) specification, having a suspended ceiling incorporating modern lighting, perimeter trunking incorporating power and data and carpeted flooring.
The workshops are finished to an equally modern specification having painted concrete floors, modern lighting and access via several sliding concertina loading doors.
The built property sits on a total site area of approx. 0.82 acres (0.332 hectares), being a site cover ration of around 28%.
Tenure Comments
The property is occupied by Kenhire Limited (Company no. 01064115) across two leases, as follows:
The Land & Buildings are let by way of a Full Repairing & Insuring Lease for a term of 10 years from 9 January 2026 (expiring 8 January 2036) at a rent of £90,000 per annum.
The lease is subject to an upwards only Market Rent Review and Tenant only Break option on the fifth anniversairy (9 January 2031).
The Land on the West Side of Henwood ("The Yard") is let on the same Full Repairing & Insuring basis for a term of 10 years from 9 January 2026 (expiring 8 January 2036) at a rent of £22,500 per annum.
The lease is subject to an upwards only Market Rent Review and Tenant only Break option on the fifth anniversairy (9 January 2031).
The Tenant
Kenhire Limited are a vehicle hire and servicing company that has served Ashford since 1949, being a stalwart in the community and popular local business.
As of 31 March 2025, the business manages a significant portfolio of tangible and fixed assets valued at over £1.9 million, including a major fleet of motor vehicles and freehold property.
Terms
The freehold interest is offered for sale on an unconditional basis subject to the existing tenancies.
Rent/Price
Our client is seeking offers from £1,450,000 reflecting a Gross Initial Yield of 7.76%.
Data Room
A link to a Data Room containing pertinent property information can also be provided. Please ask the agent for further information.
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