Derby College – The Johnson Building

Tenure:
Freehold

Location:
Derby
Address:
Derby College The Johnson Building Locomotive Way Pride Park Derby DE24 8PU

Area:
93190 Sq ft

Property Details

  • The Johnson Building, part of Derby College, presents itself as a rare opportunity to acquire a modern, purpose built further education college building.
  • Located on Pride Park, a highly successful mixed used business park in Derby City Centre, home to major occupiers such as Rolls-Royce, Royal Mail and Mercedes Benz.
  • The property benefits from excellent transport links, located 0.25 miles from Derby Train Station and 8 miles from J25 of the M1.
  • Long established, Derby College consists of 4 campuses, with The Johnson Building forming part of The Roundhouse Campus.
  • Purpose-built further education facility totalling 93,190 sq ft, constructed in 2008.
  • Site area of c. 3.04 acres, which reflects a low site density of c. 47%, with c.125 car parking spaces.
  • Let to Derby College until 19 October 2029 with 11.9 years unexpired term.
  • Current passing rent of £848,558 pa (£9.11 psf) subject to a fixed uplift in October 2019 to £960,066 pa (£10.30 psf) and a further 2.5% pa compounded rental uplift in October 2024 to £1,086,229 pa (£11.66 psf).
  • The vendor will top-up the rent to the fixed uplift in 2019.
  • Offers are sought in excess of £13,330,000. A purchase at this level reflects an attractive net initial yield of 6.75%, rising to 7.64% at a fixed increase in October 2024, and a capital value of £143 psf.

For further information or to arrange an inspection, please contact:

Joanna Ireland
T: 020 3486 3485
M: 07464 495318
jireland@geraldeve.com

Situated at the heart of Pride Park, The Johnson Building is perfectly positioned to attract those wanting to further their education.

The Johnson Building is located at the Roundhouse Campus of Derby College within Pride Park. Pride Park is one of the UK’s most successful mixed use business parks. A number of offi ce, leisure, car showroom and hotel operators are also on the park such as David Lloyd, Derby County Football Club, Rolls-Royce, VW, Mercedes Benz, Holiday Inn and Harvester.

Situated just one mile from the centre of Derby and the Intu Shopping Centre, The Johnson building is perfectly located with excellent connections from the A52 and Junction 25 of the M1 motorway. It is also approximately 4 miles south east of Derby train station, which provides a direct link to Sheffi eld, Crewe, Leicester, Nottingham and London. Due to these outstanding transport links, Derby College attracts students from all over the county.

The property is held freehold.