Commercial property
Sold
Fully Refurished Office Investment, Pembroke House, Banbury Business Park, Banbury, Oxfordshire

Investment for sale
£6,500,000 / NIY 7.32%
Summary
  • Prominent headquarters office building at the entrance to Banbury Business Park
  • Low passing rent of £507,492 per annum equating to only £12.88 per sq ft overall
  • Entirely let to Bibby Financial Services Limited on two identical leases expiring 18 September 2028
  • 10.5 years unexpired
  • Bibby offers a strong covenant - D&B 5A1
  • Banbury is located on the M40 between London and Birmingham
  • Totalling approximately 34,137 sq ft (2,171 sq m) over ground and first floors
  • The ground floor is being comprehensively refurbished to a CAT A specification to the same standard as first floor
  • Excellent overall car parking ratio of 1:85 sq ft
  • Pembroke House and the additional car park totals 4 acres
  • Virtual freehold
  • Offers are sought in excess of £6,500,000 (Six Million Five Hundred Thousand Pounds) exclusive of VAT. A purchase at this level would reflect a net initial yield of 7.32% assuming usual costs of purchase.
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