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Belmont House Shrewsbury Business Park

14,653 SF Office Building Shrewsbury SY2 6LG £2,500,000 (£171/SF) 6.58% Net Initial Yield

Investment Highlights

  • Prestigious two storey detached headquarter office building extending to approximately 14,643 sqft (1,360 sqm).
  • Attractive landscaped setting with 99 car spaces providing an excellent car parking ratio of 1:148 sqft.
  • Offers in the region of £2,500,000 are invited for the freehold interest representing a net initial yield of 6.58%.
  • Occupying a prime location at the entrance to the premier Shrewsbury Business Park and comprising a landmark building constructed to a modern design.
  • Let to Whittingham Riddell LLP Chartered Accountants on a 10 year lease from May 2024 at a rent of £175,000 per annum.

Executive Summary

Offers in the region of £2,500,000 are invited for the freehold interest of this landmark headquarters property, representing a net initial yield of 6.58% after the purchaser's normal costs of 6.38%.

Find an attractive investment opportunity at Belmont House in Shrewsbury Business Park and purchase a fully leased, 14,643-square-foot office property a short distance from the M54 motorway.

The property comprises a prestigious two-storey detached office building set within a 1.3-acre landscaped site, providing high-quality accommodation incorporating a newly upgraded air conditioning system, raised access floors, perimeter trunking, an 8-person passenger lift, and suspended ceilings with inset LED lighting. The accommodation is well appointed with an impressive, recently refurbished entrance and reception, arranged across four wings comprising open plan and cellular offices and an impressive first-floor board room.

Accessed off Sitka Drive, the property occupies a highly prominent and unrivalled location at the entrance to Shrewsbury Business Park, only 2 miles southeast of Shrewsbury town centre, and adjacent to the A5 trunk road, giving access to A49 and the M54 motorway. The business park has attracted a number of high-profile occupiers, such as Handelsbanken, Brewin Dolphin, NFU Mutual, and Guestline, and boasts a host of facilities, including Busy Bees Daycare, Greggs, Co-op, and The Holiday Inn Express. The surrounding areas of the business park are now being developed with the additions of Hatfields Jaguar Land Rover, a Shell petrol station, and a Starbucks drive-thru. The Meole Brace Retail Park, Bannatyne's Fitness, and restaurant/conference facilities at Shrewsbury Town Football Club are also accessible within a mile radius.

The freehold property is offered for sale subject to the existing occupational lease granted to Whittingham Riddell LLP. Please contact the agent for more information.

Property Facts

Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
14,653 SF
Building Class
B
Year Built
2004
Price
£2,500,000
Price Per SF
£171
Net Initial Yield
6.58%
NOI
£164,500
Tenancy
Single
Number of Floors
2
Typical Floor Size
7,322 SF
Building FAR
0.26
Land Acres
1.30 AC
Parking
99 Spaces (6.76 Spaces per 1,000 SF Leased)

Amenities

  • Raised Floor
  • Reception
  • Lift Access
  • Perimeter Trunking
  • Air Conditioning

DEMOGRAPHICS

Demographics

1 Mile 1 Mi. 3 Miles 3 Mi. 5 Miles 5 Mi.
1 Mile
3 Mile
5 Mile
2022 Population
6,876
67,828
91,177
2022 Households
3,049
30,385
40,550
Average Age
49
44
44
Median Household Income
£49,691
£42,882
£43,441
Daytime Employees
3,258
25,206
38,155
Total Businesses
984
4,598
6,772
  • Listing ID: 33390638

  • Date on Market: 03/10/2024

  • Last Updated:

  • Address: Shrewsbury Business Park, Shrewsbury SY2 6LG

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