The Story So Far

SEXTANT PARK NEPTUNE CLOSE MEDWAY CITY ESTATE ROCHESTER KENT

The Property  This estate was disfigured by one of the largest "warts" that we have seen. It is a modern industrial estate of 16 buildings, built adjacent to the River Medway. All of the buildings are supported on piles and have not moved, but the external areas were not piled and sank by about 0.5m. Office entrances which were at the same level as the road outside were 3 to 4 steps higher. Loading bays needed ramps for access. The external areas continued to sink, albeit slowly.

Medway City Estate is one of the major estates in the South East, totals over 200 acres and was developed in the late 80's and early 90's. It is home to numerous large companies including BAE Systems, PowerGen and Tibbett and Britten. Access to the Medway Ports, Channel Tunnel and London is excellent and on good usually fast roads.

The 16 buildings are all between 185 sqm/2,000 sqft and 280 sqm/3,000 sqft and are let to a variety of tenants, including Bowater Windows, Worcester Heat Systems and Karlton Professional Tools. When we bought the average rent was only £60 per sqm/£5.50 per sqft.

Why Buy? We have recently completed the removal all of external areas, yard and car parking as they were, piled to a depth of 10m and laid new supported yard and parking areas. We have managed to do this whilst keeping all of the buildings fully operational, mainly by using a mini JCB capable of manoeuvring in the very small gaps between the pile heads, building works, etc. Very intensive work, but successfully carried out by having an onsite person dedicated solely to co-operation with the occupiers, movement of their products, supplies, etc throughout the entire six month contract. We have implemented further enhancements such as security fencing, gates, signs and lighting.

The result is a very much improved industrial estate in an area of high demand, which will benefit from Thames Gateway improvements and High Speed One, the new Kent domestic service using Japanese Bullet trains. The photographs below demonstrate the "dig" and are well worth looking at. It is amazing what can be achieved at a fully operational industrial estate, so long as the landlord pays!

These improvements have already had an effect with the reletting of 6 of the buildings at 51.00 per sqm/7.50 per sqft, which we believe to be a new high for Medway City. More information at www.sextant-park.com.

Please click on the images below to enlarge.

Rochester   Rochester
     
Getting ready   Maintaining 24 hour access
     
Rochester   Rochester
     
Half way there   Metal ramps for access
     
Rochester   Rochester
     
The JCB driver needed to be good   The result
     
Rochester    
     
Sextant Park today    

Contact Us

10 Knaresborough Place
Kensington
London SW5 0TG

Ivor A French FRICS
T 020 7244 4202
M 078 9999 1111
Email Ivor

David Coleman MRICS
T 020 7244 4214
M 079 5696 6677
Email David