DESCRIPTION
The property comprises a detached office
over Ground and First floors and totals
approximately 820 sq. m (8,825 sq. ft).
Both floors have been maintained
extremely well and the ground floor
(Heartwood Collection) was completely
refurbished and fitted out to a high
specification 2 years ago. There are 12
parking spaces.
EXECUTIVE SUMMARY
Long leasehold interest with approximately 83 years
unexpired.
The Ground Floor is let to Heartwood Collection Limited on a
5 Year Lease from 15/08/2023 at a Current Rent of £116,000
per annum, which equates to £26 per sq. ft.
The First Floor is let to OLM Systems Limited on a 10 year
lease from 11/08/2022 at a Current passing rent of £126,850
per annum, which equates to £29 per sq. ft.
Total current passing rent of £242,850 per annum, exclusive
of VAT.
Pricing: Offers in excess of £2,600,000, subject to
contract and exclusive of VAT. A purchase at this
level reflects a Net Initial Yield of 8.76%, assuming
standard purchaser’s costs of 6.51%.