* Calls to this number will be recorded for quality, compliance and training purposes.
Office for sale
7,941 sq. ft*
Not available Council tax band:
Fully Occupied 2 Storey Office Building
Gross annual income of £71k ex VAT.
Prominent location on busy main road.
Dedicated on site parking to front and rear
A two storey detached office building providing accommodation over two floors, and let to a variety of tenants on annual tenancy agreements, many of whom have been in occupation in excess of 10 years.
A purchase at the asking price offers a Gross Initial Yield of 11.2% before purchaser's costs are accounted for.
The investment offers significant potential for rental growth, as the building is let at less than £10 per sq ft (all inclusive) overall.
The site extends to c. 0.4 acres, with the buildings occupying the majority of the site but with un-developed grass area fronting Carmarthen Road. On-site car parking spaces are provided at both the front and rear of of the site.
All mains supplies are connected with gas central heating being provided throughout.
The building provides a Net Internal Area broken down as follows:
Lower Ground Floor - 351.7 m2 / 3,786 sq ft
Ground Floor - 386 m2 / 4,155 sq ft
Total nia - 737.7 m2 / 7,941 sq ft
Floorplans and a detailed breakdown are available to interested parties upon expression of interest.
The property is held on a ground lease for an original term of 125 years from 1989.
The property is let to a number of tenants and a full tenancy schedule can be provided to interested parties upon expression of interest.
We are advised the total gross annual rent from these lettings is £71,000 ex VAT. The net annual income is in the region of £39,200 once running costs are accounted for.
The property is offered subject to and with the benefit of these existing tenancies.
Long Leasehold - £350,000 exclusive.
A purchase at the asking price shows a Gross Initial Yield of 11.2% before purchaser's costs are accounted for.
We are advised that the unit currently benefits from B1 planning consent for Office use.
We would encourage interested parties to make their own enquiries with the local planning authority in this regard.
The property is currently assessed in a number of individual assessments, the majority of which benefit from Small Business Rate Relief. Interested parties are requested to make their own investigations in this regard.
The property has been graded as 71 (C). The EPC document is available for download via the BP2 website.
VAT & Legal Costs
All prices, premiums and rents are quoted exclusive of VAT. We understand that the property is not elected for VAT.
Each party is responsible for their own legal costs incurred in any transaction.
For more information about this property, please contact BP2 Property Consultants, SA1 on +44 1792 925762 * (local rate)
Contact BP2 Property Consultants about this property
Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by BP2 Property Consultants, and do not constitute property particulars. Please contact BP2 Property Consultants for full details and further information. The Running Costs data displayed on this page are provided by PrimeLocation to give an indication of potential running costs based on various data sources. PrimeLocation does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions, related information or Running Costs data provided here.