Commercial property Sold
Fully Refurished Office Investment, Pembroke House, Banbury Business Park, Banbury, Oxfordshire
Investment for sale
£6,500,000 / NIY 7.32%
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
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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