75 Barton Road, Cambridge, Cambridgeshire , CB3 9LJ

Property specification

• Freehold.
• 25 year lease to Aspect International Language Academies Limited expiring on the 8th March 2030 providing an unexpired lease term of 6.5 years. Tenant right to renew for a further 15 years on expiry.
• Fixed annual rental uplifts of 2.5%.
• Aspect International Language Academies Ltd has an A2 D&B rating.
• Trading as Kaplan International Cambridge and guaranteed by Kaplan Inc., a global company whose parent company reported education division revenue of $1,427.9m in 2022, up 5% from 2021.
• Kaplan International has 39 language schools in the UK and over 1 million students internationally.
• The property has a GIA of 6,712 sq ft (623.5 sq m) and a NIA of 5,300 sq ft (492.4 sq m).
• Rent passing of £144,270 rising to £147,877 (£27.90psf NIA or £22.03psf GIA) at the March 2024 rent review. The vendor will top up the rent to the next review from completion. The property is not elected for VAT.
• We are instructed to seek offers in excess of £2,145,000, subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 6.50% and a low capital value of £405 per sq ft (NIA) after purchaser's costs of 6.01%.
• £2,145,000 / NIY 6.50%