Opportunity to acquire a substantially refurbished, reversionary, multi-let Grade A office investment with 60% of the income secured against Bank of Scotland’s (part of Lloyds Banking Group) undoubted covenant. An EPC B has been achieved throughout the building. WAULT of 4.92 years to expiry and 4.23 years to break. The property has just one vacant suite (1,276 sq ft) resulting in 99% occupancy. Total contracted passing income - £3,725,473 per annum. This reflects an average of just £23.21 psf on the office accommodation. The ERV on the existing refurbished CAT-A accommodation is £27.50 psf, but the opportunity exists for further refurbishment to command rents of £32.50 psf.
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