Well specified office investment located in Birchwood, one of the North West’s premier business locations.
• Self-contained office premises totalling 50,549 sq ft over ground and first floor.
• Single let to EntServ UK Limited on full repairing and insuring terms on a lease expiring 18 December 2020, with a guarantee from Hewlett-Packard Ltd.
• EntServ UK Limited are a leading global technology services company with a Dun and Bradstreet rating of 5A1 and a pre-tax profit of c.£135m.
• Passing rent of £607,190 per annum equating to a low £12.01 psf.
• Significant reversionary potential and opportunity to enhance the income profile through regear, refurbishment and/or reletting.
• Excellent car parking ratio of 1:192 sq ft (263 spaces).
• Site area of approximately 1.54 hectares (3.83 acres), which reflects a very low site density of 15%.
• We are instructed to seek offers in excess of £5,840,000, subject to contract and exclusive of VAT. A purchase at this level would reflect an attractive Net Initial Yield of 9.75% and a low capital value of £116 psf, assuming purchasers costs of 6.62%.