Multi-let south east town centre office

Multi-let office of 47,467 sq ft arranged over ground and 3 upper floors on a site of 1.125 acres. Subject to a rolling refurbishment including redesign of the reception and common areas, improvements to the building plant, fabric and external landscaping and refurbishment of 21,233 sq t (45%) of offce accommodation. There is a car park providing 175 spaces, providing an impressive in-town ratio of 1:271 sq ft. Multi-let to 4 tenants with a WAULT of 5.2 years to expires and 3.0 years to breaks. Produces a total rent of £695,381 pa. reflecting a reversionary average overall rent of £19.31 per sq ft. Live lease extension discussions with 2x tenants (Blaser Mills & EIPC) should result in the income growing by £245,000pa. and the WAULT being extended to 12.0 years to breaks and 14.1 years to expiry. The property is not encumbered by an Article 4 restriction.