- A rare opportunity to acquire a landmark town centre office building.
- Prominently positioned in Telford the fastest growing town in the West Midlands.
- Excellent transport links close to Junction 5 of the M54 and Telford Central Station.
- Two office plazas arranged over ground and 10 upper floors and ground and 5 upper floors respectively, extending in total to 162,102 sq ft.
- Large underground parking providing 640 spaces at a ratio of 1:253 sq ft.
- Let to 7 tenants producing £1,667,384.04 per annum, equating to a low passing rent of £10.29 per sq ft on an overall basis.
- WAULT of 5.2 years to lease expiry and 3.8 years to break.
- 87.9% of the income is secured against 5A1 covenants, of which 66.4% is government income.
- Highly reversionary providing asset management opportunities through lease events.
- Freehold.
We are instructed to seek offers in excess of £20,700,000 (Twenty Million Seven Hundred Thousand Pounds) subject to contract and exclusive of VAT, a purchase at his level reflects a Net Initial Yield of 7.55% and a reversionary yield of 9.53% after allowing for usual purchases costs of 6.75% and a low capital value of £127.70 per sq ft.
