Swallow House Parsons Rd 5,864 SF Office Building Washington NE37 1EZ £535,000 (£91.23/SF) 9.44% Net Initial Yield
INVESTMENT HIGHLIGHTS
- The property comprises a detached office building which has been extended being of framed construction with brick elevations beneath a flat roof.
- The building is currently attached into three further buildings each with self-contained access.
- The office accommodation is generally arranged on a carpet covered floor with painted plaster walls and a suspended ceiling with recessing lights.
- The windows to the property are uPVC framed and double glazed.
- The offices are finished to a good standard with bespoke reception, open plan office accommodation with demountable partitioning
EXECUTIVE SUMMARY
The property is let to Essci Technical Services Limited for a term of 5 years from the 2nd of October 2018 with break on the 1st of October 2021 with a current rent of £50,490 per annum exclusive. The Tenant has been in occupation since 2006.
There is a Schedule of Condition attached to the lease.
PROPERTY FACTS
AMENITIES
- Demised WC facilities
- Open-Plan
- Recessed Lighting
ABOUT PARSONS RD , WASHINGTON, TWR NE37 1EZ
The property comprises a detached office building which has been extended being of framed construction with brick elevations beneath a flat roof. The windows to the property are uPVC framed and double glazed. The building is currently attached into three further buildings each with self-contained access. The offices are finished to a good standard with bespoke reception, open plan office accommodation with demountable partitioning to create meeting rooms and individual WC and kitchen facilities. The office accommodation is generally arranged on a carpet covered floor with painted plaster walls and a suspended ceiling with recessing lights. There are 20 car park spaces included adjacent to the office.
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
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- Construction
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We are one of the largest technical service providers in the UK and Ireland, with extensive expertise and experience in engineering services, technical facilities management and systems integration.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
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Construction | - | - | - |
