High yielding office investment

Grade A purpose-built office building located on Sunderland’s principal business park. 112,575 sq ft of accommodation arranged across three wings over three floors. 65% of space is let to EDF Energy who have recently regeared their lease in 2020 and removed their break options, demonstrating their commitment to the building and providing 7.5 years to lease expiry on 28 September 2030. Seeking for offers in excess of £9,370,000 to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 10.24% and a low capital value of £83 psf assuming purchaser’s costs of 6.78%.