Cromwell St | Stornoway HS1 2DF
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Cromwell St
Stornoway HS1 2DF
Harbourview Development · Office Property For Sale
Investment Highlights
- Multi-let on fri lease lease terms
- Asset management opportunities
- Attractive blend of covenants
Executive Summary
Offers over £475,000, exclusive of VAT are invited in respect of our client’s heritable interest in the property with the benefit of the existing leases. Based on the current rental income of £42,080 per annum, exclusive of VAT, a purchase price at this level represents a Net Initial Yield of 8.49% after deduction of normal purchaser’s costs and a Reversionary Yield of 11.35%.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
8,011 SF
Building Class
B
Year Built
2006
Price
£475,000
Price Per SF
£59
Net Initial Yield
8.49%
NOI
£40,328
Percent Leased
69%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
2,670 SF
Building FAR
2.67
Lot Size
0.07 AC
Amenities
- Kitchen
- Storage Space
About Cromwell St , Stornoway, WIS HS1 2DF
The subjects are located in the centre of town adjacent to Stornoway Harbour on the west side of Cromwell Street (A857) with a pleasant outlook and views across the Harbour and beyond. The property benefits from car parking directly adjacent to the building.
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