Office Investment for sale IN Newmarket
Office investment for sale 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
Ground floor & 1st Floor Offices 182 1,959
Basement storage 31.6 340*
Total (NIA) 182 1,959
* No value has been placed on basement area.
Lease: A new 5 year full repairing & insuring lease dated 1st June 2016 to THG Healthcare Ltd.
Rent: £26,450.00 per annum exclusive of rates; insurance premium and service charge. The existing rent equates to £13.50 per sq.ft. which is reversionary based on recent office transactions on the same estate at £17.50 per sq.ft. during 2019.
Tenant: THG Healthcare Ltd trades as Huntercombe Group and provide expert care for people with mental illness, learning disability and brain injury and has been established since 1990 in which Oaks Lodge is the Head Office. Go to: https://huntercombe.com/about-us/vision-and-values/ for more information on this healthcare organisation.
Car Spaces: 9 car spaces demised. See attached plan. The new car park area was constructed in 2018.
Price: £375,000.00 (THREE HUNDRED & SEVENTY-FIVE THOUSAND POUNDS ONLY) which reflects a net initial yield of 6.71% allowing for usual purchaser’s costs.
Oaks Lodge Fordham Road Newmarket, CB8 7XN