Office for sale in Unit 12, Halifax Court, Cross Lane, Fernwood, Newark, Nottinghamshire NG24

£265,000 (£117.78/sq. ft)
Office for sale 2,250 sq. ft*
Interested in this property? Call +44 1302 977704 * or Request Details

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Property features

  • £265,000
  • £22,500 pax rental income
  • Let to a strong covenant on a 10 year lease from July 2019
  • Reflects attractive 8.11% Net Yield and 8.49% Gross
  • Excellent location with good access to the A1 and Newark T C

Property description

Excellent modern office investment opportunity in a popular business park location with a strong covenant and good road links.

- modern office investment for sale

- 10 year lease from July 2019 at £22,500 pax

- rent reviews every 3 years - 2,250 sq ft nia

- close to A1 & newark town centre

- strong covenant

- asking price: £265,000
- attractive yields: 8.11% niy / 8.49% gross.

The property comprises a semi-detached office building which offers open plan accommodation within a two storey building. As a modern development, this property has the advantage of air conditioning, Cat II lighting and suspended ceilings and generous parking.
The property is let to Fisher German LLP by way of a 10 year lease from 16th July 2019 on effective Fri terms.

The passing rent is £22,500 per annum, reflecting a rate equating to a low rent of circa £10 per sq ft. There is a tenant break option after 3 years and upward only Rent Reviews after 3 and 6 years.

Fisher German have occupied the property for over 11 years and are well established in the local area with strong ties to the agricultural and business community.

Please note the ground floor is sub let to Carter Real Estate (Boston) Limited for 3 years from July 2019 at £10,000 per annum exclusive. The lease is guaranteed by the G.F. Tomlinson Group Limited (net worth £11.5m).

Guide Price & Investment Considerations
Asking price: £265,0000
This reflects an attractive niy of 8.11% after costs and a Gross Yield of 8.49%.
This is a rare opportunity to acquire a modern office investment let to a strong covenant on an established business park location with fantastic road access to the A1.

There are good opportunities for rental growth via regular rent review intervals.

Tenure Virtual freehold. 999 years less 3 days from and including 28 September 2007.

Lease copies available upon request.

Property info

* Sizes listed are approximate. Please contact the agent to confirm actual size.

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For more information about this property, please contact
Fisher German LLP, DN4 on +44 1302 977704 * (local rate)

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Property descriptions and related information displayed on this page, with the exclusion of Running Costs data, are marketing materials provided by Fisher German LLP, and do not constitute property particulars. Please contact Fisher German LLP 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.

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