40,135 sq ft detached office building with a car parking ratio of 1:165 sq ft
Single-let to Northern Gas Networks Limited as their Headquarters
Producing £584,292 per annum equating to a low passing rent of £14.69 psf (assuming a 50% rate on the reception)
10.4 years unexpired with breaks in 3.4 and 7.4 years
Tenant undertook comprehensive refurbishment completing in March 2020
Reversionary with the latest lettings on Thorpe Park at £24 psf and quoting now at £28 psf
Thorpe Park continues to enjoy significant investment as a regional hub, including a new railway station which is due to open in Q1 2025 Freehold
We are instructed to seek offers in excess of £6,090,000 subject to contract and exclusive of VAT reflecting 9.0% NIY and a capital value of £152 psf assuming purchasers costs of 6.63%.
