£8.400.000
Confirmation
Value-add freehold with refurbishment opportunity
Property Details
Broker
Deactivated
25,112 sq.ft.
2,333 m²Leasable area
334 £/sq.ft.
3,600 £/m²4.46 %
Freehold
Fees
Investment Overview
Art-deco style mixed-use building comprising 25,112 sq ft NIA on a 0.34 Acre (0.13 Hectare) site 25% of income let to the undoubted covenant of the NHS Foundation Trust. Total passing rent of 396,905 p.a. reflecting a very low 15.80 psf overall. Option for immediate vacation possession of 75% of the accommodation, or, a fully income producing building until 2024. Indicative studies show potential for additional massing and/or alternative uses (subject to the necessary consents). The property was constructed of red brick and characterised by art-deco external detailing. Arranged over lower ground, ground and two upper floors. Internally the property retains its exceptional volumes, with ceiling heights of c.3m throughout and crittal glazing on its elevations. Floor plates are broadly rectangular set around a central core.
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