Ridgeworth House | 5-9 Liverpool Gdns
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Ridgeworth House 5-9 Liverpool Gdns
20,000 SF 100% Leased Office Building Worthing BN11 1RY £2,750,000 (£138/SF) 9.41% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Prominent location
- Secure entry phone system
- Parking spaces
EXECUTIVE SUMMARY
The property is available freehold subject to the below mentioned tenancies.
The ground floor is let to NHS Property Services Limited on an effective FR&I Lease for a term of 10 years from 22nd February 2017. The Lease contains no further break clauses or rent reviews and the passing rent is £52,200 Per Annum exclusive.
The first floor is let to Bluecrest Health Screening Limited on an effective FR&I Lease for a term of 10 years from 28th April 2017. The Lease contains no further break clauses or rent reviews and the passing rent is £63,600 Per Annum exclusive.
The second floor is let to Smartestenergy Business Limited (guaranteed by Smartestenergy Ltd) on an effective FR&I Lease for a term of 10 years from 25th November 2022. There is a Tenant only break clause and an upward only rent review due 25th November 2027. The passing rent is £71,550 Per Annum exclusive.
The third floor is let to Smartestenergy Business Limited (guaranteed by Smartestenergy Ltd) on an effective FR&I Lease for a term of 10 years from 25th November 2022. There is a Tenant only break clause and an upward only rent review due 25th November 2027. The passing rent is £71,550 Per Annum exclusive.
The total current income from the building is £258,900 Per Annum exclusive.
The ground floor is let to NHS Property Services Limited on an effective FR&I Lease for a term of 10 years from 22nd February 2017. The Lease contains no further break clauses or rent reviews and the passing rent is £52,200 Per Annum exclusive.
The first floor is let to Bluecrest Health Screening Limited on an effective FR&I Lease for a term of 10 years from 28th April 2017. The Lease contains no further break clauses or rent reviews and the passing rent is £63,600 Per Annum exclusive.
The second floor is let to Smartestenergy Business Limited (guaranteed by Smartestenergy Ltd) on an effective FR&I Lease for a term of 10 years from 25th November 2022. There is a Tenant only break clause and an upward only rent review due 25th November 2027. The passing rent is £71,550 Per Annum exclusive.
The third floor is let to Smartestenergy Business Limited (guaranteed by Smartestenergy Ltd) on an effective FR&I Lease for a term of 10 years from 25th November 2022. There is a Tenant only break clause and an upward only rent review due 25th November 2027. The passing rent is £71,550 Per Annum exclusive.
The total current income from the building is £258,900 Per Annum exclusive.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
20,000 SF
Building Class
B
Year Built/Renovated
1971/2008
Price
£2,750,000
Price Per SF
£138
Net Initial Yield
9.41%
NOI
£258,900
Percent Leased
100%
Tenancy
Multiple
Number of Floors
4
Typical Floor Size
5,000 SF
Slab to Slab
10 ft
Building FAR
1.15
Lot Size
0.40 AC
Parking
31 Spaces (1.55 Spaces per 1,000 SF Leased)
AMENITIES
- Controlled Access
- Convenience Store
- Raised Floor
- Security System
- Signage
- Accent Lighting
- EPC - C
- Storage Space
- Central Heating
- Recessed Lighting
- Shower Facilities
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Ridgeworth House | 5-9 Liverpool Gdns
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