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Clervaux Exchange | Clervaux Ter
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Clervaux Exchange Clervaux Ter
29,172 SF 100% Leased Office Building Jarrow NE32 5UP £2,550,000 (£87/SF) 11% Net Initial Yield
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INVESTMENT HIGHLIGHTS
- Prestigious serviced office building for sale
- 51 modern office suites
- Current gross rent of £442,092 per annum
EXECUTIVE SUMMARY
The subject property comprises an attractive, detached, two storey traditional former police station with court, which has been entirely redeveloped in recent years to create a serviced office business centre.
The accommodation has a cellular arrangement and there are 50 furnished offices, providing a range of desk spaces from 1 desk to 16 desks suites. The centre can accommodate 204 desks in total.
The offices are fully furnished with desks, chairs, raised access floors with a carpet tile covering, plastered ad painted walls, boarded, and painted ceilings with LED lighting and there is a gas central heating system feeding hot water radiators.
The entire building has maintained many of the original period features, creating a very impressive reception, common areas and meeting rooms The common facilities, including WCs and kitchen have also been finished to very high standards, with modern ceramic tiling, pendant lighting, and granite worktops to the kitchens. There is also upgraded pendant lighting to circulation areas, carpet floor coverings and a range of decorative timber cladding and wallpapers.
The accommodation has a cellular arrangement and there are 50 furnished offices, providing a range of desk spaces from 1 desk to 16 desks suites. The centre can accommodate 204 desks in total.
The offices are fully furnished with desks, chairs, raised access floors with a carpet tile covering, plastered ad painted walls, boarded, and painted ceilings with LED lighting and there is a gas central heating system feeding hot water radiators.
The entire building has maintained many of the original period features, creating a very impressive reception, common areas and meeting rooms The common facilities, including WCs and kitchen have also been finished to very high standards, with modern ceramic tiling, pendant lighting, and granite worktops to the kitchens. There is also upgraded pendant lighting to circulation areas, carpet floor coverings and a range of decorative timber cladding and wallpapers.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
29,172 SF
Building Class
B
Year Built
2015
Price
£2,550,000
Price Per SF
£87
Net Initial Yield
11%
NOI
£280,500
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
14,586 SF
Parking
40 Spaces (1.37 Spaces per 1,000 SF Leased)
AMENITIES
- Day Care
- Property Manager on Site
- Security System
- Kitchen
- Common Parts WC Facilities
- Plug & Play
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VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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Presented by
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Clervaux Exchange | Clervaux Ter
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