£400,000
(£159.43/sq. ft)
Office for saleUnits 4, 5 & 7, Thornfield Business Park, Standard Way Business Park, Northallerton DL6
2,509 sq. ft
EPC Rating: D
Leasehold
About this property
Detached modern office building.
Ground Floor let to established covenant at £22,040 p.a.
First Floor vacant- suitable for owner occupation/letting
Potential to generate a total income of c.£45,000
£400,000 freehold
Description
The accommodation comprises modern office space arranged over ground and first floors with dedicated on-site parking. The property occupies a prominent position within a well-established business park environment.
The property comprises a business park office premises offering an attractive and part-let commercial investment opportunity. The premises have been generating income of £22,040.50 per annum through a lease with a high-quality tenant caci Ltd on the ground floor who have been in occupation since June 2022.
The first floor is vacant suitable for owner occupation or ready to be let to a new tenant. This could generate a further rental income of circa £23,000 p.a. (assuming the first floor is re-let at a low rent of £8.50 psf) totalling circa £45,000 p.a. + service charge for the building as a whole.
This reflects a low capital value of approx £78psf and would reflect a yield of circa 10.8% after the deduction of the usual purchasers costs.
Location
The property is located within the business park located on Standard Way, Northallerton, easily accessed via the B6271. Northallerton town centre is located approximately 1 mile to the south-east.
Terms
The property is available freehold subject to the occupational lease on the Ground Floor (lease term end : 09/06/2028).
The accommodation comprises modern office space arranged over ground and first floors with dedicated on-site parking. The property occupies a prominent position within a well-established business park environment.
The property comprises a business park office premises offering an attractive and part-let commercial investment opportunity. The premises have been generating income of £22,040.50 per annum through a lease with a high-quality tenant caci Ltd on the ground floor who have been in occupation since June 2022.
The first floor is vacant suitable for owner occupation or ready to be let to a new tenant. This could generate a further rental income of circa £23,000 p.a. (assuming the first floor is re-let at a low rent of £8.50 psf) totalling circa £45,000 p.a. + service charge for the building as a whole.
This reflects a low capital value of approx £78psf and would reflect a yield of circa 10.8% after the deduction of the usual purchasers costs.
Location
The property is located within the business park located on Standard Way, Northallerton, easily accessed via the B6271. Northallerton town centre is located approximately 1 mile to the south-east.
Terms
The property is available freehold subject to the occupational lease on the Ground Floor (lease term end : 09/06/2028).
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