Minton Place 2 Station Rd 29,278 SF 65% Leased Office Building Swindon SN1 1DA £2,500,000 (£85.39/SF) 14.44% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Situated on a prominent corner plot, opposite Swindon Railway Station
- 4 Miles from M4 J15
- 4 Minute Walk from Swindon Bus Station
EXECUTIVE SUMMARY
Let to 8 tenants with a total passing rent of £384,422 pa reflecting a low average rent of £13.06 per sq ft.
WAULT of 2 years, 7 months to expiry, 1 year, 11 months to break.
Medium term office refurbishment or residential redevelopment opportunity; planning permission is in place to convert the adjoining office building into 58 flats.
A purchase at this level reflects a net initial yield of 11% and a capital value of £112 per sq ft, assuming purchasers’ costs of 6.48%.
Let to 8 tenants with a total passing rent of £384,422 pa, reflecting a low average rental rate of £13.06 per sq ft.
WAULT of 2 years, 7 months to expiry, 1 year, 11 months to break.
Medium term office refurbishment or residential redevelopment opportunity; planning permission is in place to convert the adjoining office building into 58 flats.
A purchase at this level reflects a net initial yield of 11% and a capital value of £112 per sq ft, assuming purchasers’ costs of 6.48%.
Let to 8 tenants with a total passing rent of £384,422 pa, reflecting a low average rental rate of £13.06 per sq ft.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
29,278 SF
Building Class
B
Year Built
1985
Price
£2,500,000
Price Per SF
£85.39
Net Initial Yield
14.44%
NOI
£361,029
Percent Leased
65%
Tenancy
Multiple
Number of Floors
5
Typical Floor Size
7,317 SF
Slab to Slab
11 ft
Building FAR
0.48
Lot Size
1.40 AC
Parking
14 Spaces (0.48 Spaces per 1,000 SF Leased)
AMENITIES
- Raised Floor
- Accent Lighting
- EPC - D
- Reception
- Bicycle Storage
- Demised WC facilities
- Lift Access
- Natural Light
- Open-Plan
- Reception
- Recessed Lighting
- Shower Facilities
- Suspended Ceilings
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
This office space is available to let on terms to b agreed.
This office space is available to let on terms to b agreed.
This office suite is available to let on terms to be agreed.
This office space is available to let on terms to be agreed.
This office suite is available to let on terms to be agreed.
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 1A | 641 SF | Office | Partial Build-Out | Now |
| 2nd Fl-Ste 1B | 1,137 SF | Office | Partial Build-Out | Now |
| 2nd Fl-Ste 3 | 2,968 SF | Office | Partial Build-Out | Now |
| 3rd Fl-Ste 1 | 3,692 SF | Office | Partial Build-Out | Now |
| 3rd Fl-Ste 3 | 1,932 SF | Office | Partial Build-Out | Now |
2nd Fl-Ste 1A
| Size |
| 641 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
2nd Fl-Ste 1B
| Size |
| 1,137 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
2nd Fl-Ste 3
| Size |
| 2,968 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
3rd Fl-Ste 1
| Size |
| 3,692 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
3rd Fl-Ste 3
| Size |
| 1,932 SF |
| Space Use |
| Office |
| Condition |
| Partial Build-Out |
| Available |
| Now |
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