INVESTMENT COMMITTEE · PRE-IC
Harlow Fulfilment Park — £80m acquisition
Harlow, Essex · 1,284,000 sq ft · 32-bay · national last-mile operator
Updated 14:32
SCHEDULED PRICE
£80.0m
£80.6 psf · net
LEVERED IRR
13.7%
10-yr · 50% equity
NET ASSET VALUE
£73.9m
valuation ref SV-041
ENTRY YIELD
5.1%
contracting £4.08m
FUND HURDLE
12.0%
173 bps headroom
EVIDENCE LEDGER
Every conclusion traceable to source
SOURCE EXTRACT · PAGE 47
4.2 EXIT VALUATION
The property is valued at £74,600,000, adopting an equivalent yield of 5.62% and an estimated rental value of £10.40 psf.
The valuer assumes normal market exposure at lease expiry and makes no special purchaser allowance.
SMART BRICKS INTERPRETATION
The underwriting model uses 5.90%, 28 bps wider than the independent valuation. This is conservative but inconsistent with the broker’s 5.60% case.