Description
Subject to planning the site has potential for redevelopment, including opportunities in the following categories; industrial, residential or office expansion.
The above assumptions are subject to further discussions and formal approval by the local planning authority.
On a site of circa 1.54 acres, in a popular location which includes industrial and office uses with nearby retail occupiers including Aldi, McDonald's and Greggs.
Superbly situated in a mixed use area with industrial, office, retail and residential uses nearby. Excellent access to major road / motorway routes.
Current income £82,500 per annum, reflects only £7.32 per sq ft.
The current occupational lease expires 19th October 2030, subject to a tenant only break 20th October 2025, subject to a break premium of £41,280 payable by the tenant.
For Sale - £725,000 plus VAT, subject to contract.
A purchase at this level reflects a net initial yield of 10.8%
assuming usual purchaser costs.
The subject property comprises a substantial office building, understood to have been built circa 1980, with open plan (some demountable partitioning has been erected to create small office rooms etc) office accommodation arranged across ground and first floors.
The property has part brick/part render elevations and a flat roof.
The property is accessed via a ground floor reception. The specification of both the ground and first floor offices is as follows:
Solid concrete floor on ground floor/suspended concrete floor
on first floor.
Perimeter trunking.
Air conditioning via ceiling mounted cassette units.
Mineral fibre suspended ceiling tiles.
Inset LED ceiling lights
Double glazed windows.
Carpeted floors.
WC and kitchenette facilities on both floors.
The building is set within attractive grounds on a site of circa 1.54 acres.
There are currently circa 75 marked car parking spaces, providing a ratio of 1:150 sq ft.
LED Ceiling Lights
Solid concrete floor on ground floor/suspended concrete floor on first floor
Perimeter trunking
Air conditioning via ceiling mounted cassette units
Double glazed windows
Carpeted floors
WC and kitchenette facilities on both floors
Circa 75 marked car parking spaces
The building is set within attractive grounds on a site of circa 1.54 acres
Substantial Office at Key Road with Redevelopment Potential