Government let office investment

Property is a self contained office building constructed in 1991. It totals approximately 41,646 sq ft (3,869.1 sq m) with office accommodation arranged over ground and three upper floors. Some of the accommodation in the building is accessed by the public. 18 car parking spaces. The next rent review is 01/04/2023 The property is entirely let to The Secretary of State for Levelling Up, Housing and Communities for a term expiring 31/03/2028, therefore providing 5.89 years to expiry. The passing rent is £655,000 per annum (£15.72 per sq ft overall). Prime Grade A rents in Central Milton Keynes at £28.50 per sq ft. Estimated headline rental value as existing £790,000 per annum, equating to £19.00 per sq ft with potential to increase this to a headline rent of £26.00 per sq ft with a full refurbishment.