Sold

Fusion House, Katharine Way, Bretton, Peterborough, Cambridgeshire, PE3

Freehold

£5,000,000 / NIY 9.21%

  • Photo 1

Extremely well maintained freehold single-let office investment in Peterborough.

Property specification

  • The city's mainline railway station offers direct services to London King's Cross St Pancras with a fastest journey time of 50 minutes.
  • Fusion House is located directly opposite Bretton Shopping Park, home to major retailers including Sainsbury's, Aldi, Boots, Sports Direct, Pets at Home, Dominos and Costa.
  • The office accommodation is arranged over 2 floors totalling approx. 47,418 sq ft (4,405 sq m).
  • Let to BISL Limited (D&B rating of 5A2).
  • BISL's principal activity is the distribution and outsourcing of insurance and household financial services, including motor, home and life insurance.
  • Since 2019 the tenant has carried out a major refurbishment of the property costing over £4 million.
  • The building is not elected for VAT.
  • Passing rent of £490,862 per annum equating to £10.35 per sq ft overall. Rent reviews are upward only to open market on 06/04/2025 and 06/04/2028. Half rent payable until 23/06/2024.
  • Offers are sought in excess of £5,000,000 for the freehold interest. A purchase at this level reflects a net initial yield of 9.21% assuming usual purchaser's costs calculated at 6.59% and a capital value of only £105.45 per sq ft. Rent to be topped-up by the seller.
  • £5,000,000 / NIY 9.21%
Extremely well maintained freehold single-let office investment with lease expiry on 5th April 2032 (no breaks).

020 3761 3648
james.keys@bidwells.co.uk


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Location

Peterborough is Cambridgeshire's largest city and is well located with easy access to the major road network (A1(M), A14, M11, and M1).

Train Stations
  • Peterborough 2.88km
  • Peterborough 2.95km
  • Whittlesey 12.20km
  • Stamford 14.60km

Property Advisor

602240

James Keys

Partner, Capital Markets

James is no stranger to the investment world, having been part of it for over three decades.

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E_221010_N6

Thomas Handy

Graduate Surveyor, Capital Markets

Thomas is a graduate Surveyor working on acquisitions and disposals in Bidwells' capital markets team.

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