Prime Office Investment

The building was originally developed in 1968 as a landmark building and has since undergone various refurbishments with the latest being in 2007 whenever the two additional lower sections either side of the main tower were constructed. In 2015 the main entrance lobby was reconfigured to include a mezzanine coffee shop. The property is a ten storey mixed use building with 38 car parking spaces and 23 cycle spaces. The building comprises 90,334 sq ft of grade A office accommodation set over ten upper floors with four retail units at ground floor and a coffee shop at mezzanine level. In addition tenants benefit from exclusive access to the on-site gym and meeting rooms on the 9th floor. Site measures 0.37 acres (0.15 hectares). The investment produces a gross rent of £1,673,268 per annum and a net income of £1,556,070 per annum. A potential reversionary rent of £2,016,000 per annum once fully leased. 85.10% of the income is secured against tenants with a CreditSafe Rating of “Very Low Risk” or “Low Risk”. The investment provides a WAULT of 10.33 years to expiry and 4.67 years term certain. Held Freehold with a fee farm ground rent of £50 per annum.