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Lakeview House, Priory Business Park, Bedford MK44 3WH

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Sold

Lakeview House, Priory Business Park, Bedford MK44 3WH

£1,450,000 / NIY 9.11%

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Strategically located office building in the heart of the Oxbridge Growth Corridor

Property specification

  • Prominent location on Bedford’s main business park
  • Modern offices with air conditioning and raised floors
  • Floor area of 11,658 sq ft with 80 car spaces providing an attractive car parking ratio of 1:146 sq ft
  • Floor area of 11,658 sq ft with 80 car spaces providing an attractive car parking ratio of 1:146 sq ft
  • Multi-let to three tenants with 47% of income secured against government grade NHS covenant
  • Recently regeared leases at low rents of £12.50 psf
  • WAULT of 9.1 years to expiry and 4.8 years to breaks
  • Net rent of £140,182 pa reflecting a low blend of £12.02 per sq ft
  • A low capital value rate of £124 per sq ft, below replacement cost
Our client is seeking offers in excess of £1,450,000 subject to contract and exclusive of VAT, which reflects a net initial yield of 9.11% assuming purchaser’s costs of 6.08%

Location

Bedford is a historic market town and the county town of Bedfordshire. It is located in the south east of England, approximately 25 miles west of Cambridge and 45 miles north west of London.

Location

Bedford is a historic market town and the county town of Bedfordshire. It is located in the south east of England, approximately 25 miles west of Cambridge and 45 miles north west of London.

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