Lenton Ln 31,802 SF Office Building Nottingham NG7 2NR £4,500,000 (£141.50/SF) 8.45% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Modern single let office building on fringe of Nottingham city centre
- Rent of £405,000 per annum (only £12.74 per sqft)
- Let to undoubted covenant of Siemens plc on a 10 year lease from 11th September 2017
EXECUTIVE SUMMARY
Seeking offers in excess of £4,500,000 which provides an initial yield of 8.45%, allowing for purchaser’s costs of 6.57%. This price reflects a low capital value of only £141 per sqft.
The property is held part long leasehold and part freehold. The long leasehold element is held on a 125 year term from 6 March 1992 at a peppercorn rent.
The property is held part long leasehold and part freehold. The long leasehold element is held on a 125 year term from 6 March 1992 at a peppercorn rent.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Long Leasehold
Building Size
31,802 SF
Building Class
B
Year Built
1992
Price
£4,500,000
Price Per SF
£141.50
Net Initial Yield
8.45%
NOI
£380,250
Tenancy
Single
Number of Floors
3
Typical Floor Size
16,434 SF
Slab to Slab
8 ft
Building FAR
0.47
Lot Size
1.55 AC
Parking
121 Spaces (4.02 Spaces per 1,000 SF Leased)
AMENITIES
- Bus Route
- Catering Service
- Raised Floor
- Restaurant
- Accent Lighting
- Air Conditioning
- Balcony
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