1 Wards Rd | Elgin IV30 1QL
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1 Wards Rd
Elgin IV30 1QL
Phoenix House · Office Property For Sale
Investment Highlights
- Modern office building with on-site parking.
- South of Elgin town centre on Wards Road, one of the principle arterial routes serving the town.
- Close to the railway station and within easy walking distance to the town centre.
Executive Summary
• MODERN OFFICE BUILDING WITH ON-SITE PARKING
• MULTI-LET ON FRI LEASE TERMS
• TOTAL NET INCOME: £48,950 PER ANNUM
• SALE PRICE: OFFERS OVER £550,000, EXCLUSIVE OF VAT
• ERV: £55,250 PER ANNUM
• NET INITIAL YIELD: 8.50%
• REVERSIONARY YIELD: 9.59%
• ASSET MANAGEMENT OPPORTUNITIES
• MULTI-LET ON FRI LEASE TERMS
• TOTAL NET INCOME: £48,950 PER ANNUM
• SALE PRICE: OFFERS OVER £550,000, EXCLUSIVE OF VAT
• ERV: £55,250 PER ANNUM
• NET INITIAL YIELD: 8.50%
• REVERSIONARY YIELD: 9.59%
• ASSET MANAGEMENT OPPORTUNITIES
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
4,600 SF
Building Class
B
Year Built
1985
Price
£550,000
Price Per SF
£120
Net Initial Yield
8.90%
NOI
£48,950
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
2,300 SF
Building FAR
1.84
Lot Size
0.06 AC
Amenities
- Security System
- Kitchen
- Fully Carpeted
- Secure Storage
About 1 Wards Rd , Elgin, MRY IV30 1QL
The property comprises an attractive standalone 2-storey office building with dedicated car parking. The building is accessible (including for people with disability and mobility issues) with a passenger lift to the first floor. There is also an automatic/secure door entry system and common areas on both floors providing toilets, shower and shared break out facilities. The building has been configured to provide self-contained office suites, two on each floor.
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