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

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%

• Description

  Extremely well maintained freehold single-let office investment with lease expiry on 5th April 2032 (no breaks).