NEWMARket office investment for sale
Newmarket office Investment for sale at Rosalind Franklin House in Newmarket.
In brief, the salient points are as follows:
Location: Newmarket as a location enjoys an international reputation as the headquarters of British Horse Racing and Breeding.
Excellent communications to Cambridge (12 miles), Stansted Airport (30 miles), M25 (J27 – 52 miles), and London (60 miles) via the A14 (J37 – 0.4 miles), A11 and M11 make it an ideal regional HQ location.
Floor areas: SQ M SQ FT
Pt. Ground Floor (Edmundson Electrical) 274.98 2,960
Pt. Ground floor (vacant) 91.04 980.
First Floor (Execujet (UK) Ltd) 396.96 4,273
Total Floor Area 762.98 8,213
Lease(s) Summary (See attached leases):
- A new 10 year lease dated 16th October 2018 to Edmundson Electrical at an annual exclusive rental of £51,800.00.
- A new 10 year lease dated 10th September 2019 to Execujet (UK) Ltd at an annual exclusive rental of £74,777.50 subject to a tenant only break clause on expiration of 5th year of term. If Execujet (UK) Ltd do not serve Notice then they will receive 6 months’ rent free period as an incentive.
- Pt Ground floor space (vacant) Estimated Rental Value £17,150.00 (i.e. £17.50 per sq.ft.)
Rent: Passing annual exclusive rental equates to £17.50 per sq.ft. Building 1 opposite leased to GenesisCare in 2018 at a rate of £19.50 per sq.ft. based off net internal areas.
Edmundson Electrical Ltd: Go to: http://www.edmundson-electrical.co.uk/about-us
Execujet (UK) Ltd: Go to: https://www.execujet.com/en/
Car Spaces: EE= 11 car spaces; Execujet (UK) Ltd = 15 car spaces; Pt. ground floor (vacant) 3 car spaces
Total = 29.
Price: £2,200,000.00 (TWO MILLION TWO HUNDRED THOUSAND POUNDS ONLY) which reflects a net initial yield of 6.08% allowing for usual purchaser’s costs on basis the vendor gives 1 year’s rent cover on vacant space as above, assuming full asking price is paid.
Rosalind Franklin House FordhamRoad Newmarket CB8 7XN