Wellbrook Court, Girton Road, Cambridge, Cambridgeshire, CB3 0NA

Property specification

• Comprising 6 units and multi-let to 9 tenants totalling 40,294 sq ft NIA
• WAULT of 3.46 years to expiry and 2.62 years until break providing immediate asset management opportunities
• Total rent passing of £928,616 per annum reflecting a low blended average of £23.05 psf
• Significant reversionary potential with prime rents in Cambridge in excess of £56.00 psf and good second-hand rents in excess of £40.00 psf
• Excellent asset management potential through re-gearing existing leases and repositioning of the park
• Future redevelopment potential and the ability to expand massing on the site due to the low site cover and the underutilisation today
• Our client is seeking offers in excess of £10,260,000 subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 8.48% and a capital value of £255 psf assuming purchase costs of 6.70%
• £10,260,000 / NIY 8.48%