Commercial property
Investment for sale
South East, Multi-Let High Yielding Office Investment : Lakeview House, Priory Business Park, Bedford

Investment for sale
£1,450,000 / NIY 9.11%
Property > Commercial > Property Investment for sale in Bedford
Summary
  • Strategically located office building in the heart of the Oxbridge Growth Corridor
  • Prominent location on Bedford’s main business park
  • Modern offices with air conditioning and raised floors
  • Floor area of 11,658 sq ft with 80 car spaces providing an attractive car parking ratio of 1:146 sq ft
  • Multi-let to three tenants with 47% of income secured against government grade NHS covenant
  • Recently regeared leases at low rents of
  • £12.50 psf
  • WAULT of 9.1 years to expiry and 4.8 years to breaks
  • Net rent of £140,182 pa reflecting a low blend of £12.02 per sq ft
  • Our client is seeking offers in excess of £1,450,000 subject to contract and exclusive of VAT, which reflects a net initial yield of 9.11% assuming purchaser’s costs of 6.08%
  • A low capital value rate of £124 per sq ft, below replacement cost
Done
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