Newmarket office Investment

£2,200,000.00 · Investment · For Sale
AVAILABLE FOR SALE

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.

 Tenants:

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.

 

 

Location

Rosalind Franklin House FordhamRoad Newmarket CB8 7XN

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