Commercial property
Investment for sale
Freehold Multi Let Office Investment for Sale: Ashwell Point, Dales Manor Business Park, Babraham Road, Sawston, Cambridge

Investment for sale
£4,235,000 / NIY 7.00%
Summary
  • Rare opportunity to acquire a freehold multi let office on the established South Cambridge Business Park - 7 miles south of Cambridge City Centre
  • Low site cover of 20% - Site area of 1.54 acres (0.623 hectares) – Potential for future redevelopment
  • Let to four tenants with two recently re-geared leases providing a total of 1,779.12 sq m (19,151 sq ft) of office accommodation
  • An extremely attractive car parking ratio of 1:190 sq ft (101 spaces)
  • WAULT of 5.09 years to expiry and 3.88 years to break - all leases outside the L&T 1954 Act
  • A low passing rent of £315,991 per annum, reflects an attractive rate of £16.50 per sq ft
  • Adjacent offices letting at £21.17 per sq ft. We are of the opinion that the estimated rental value is £335,142.50 (£17.50 per sq ft)
  • Asset management potential through refurbishment and reletting at a higher rent, or alternative uses, subject to planning
  • Medium term residential redevelopment potential, subject to the necessary consents
  • Offers sought in excess of £4,235,000 for the freehold interest, subject to contract and exclusive of VAT, reflecting a net initial yield of 7.00% assuming standard purchaser’s costs of 6.55% and a reversionary yield of 7.42%
Done
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