Multi Let Attractive Office Building
2.04 Acre Site Area
Freehold For Sale
Summary
- Multi-let to 24 tenants providing immediate opportunity to increase the rental income.
- Attractive modern office building arranged as four interconnecting buildings
- Constructed around an attractive central courtyard
- 196 car parking spaces
- 2.04 arce site area
- Total current income: £619,817.96 pax
- Occupiers including Trustatrader.com, The Video Standards Council and Brown & Lee.
- Ideal for future development
- SPV can be purchased
- Stevenage is undergoing major £1 Billion regeneration programme
Accommodation
The accommodation comprises the following areas:
| Name | sq ft | sq m | Availability |
| Ground - Offices | 15,573 | 1,446.78 | Available |
| 1st - Offices | 20,916 | 1,943.16 | Available |
| 2nd - Offices | 5,357 | 497.68 | Available |
| Total | 41,846 | 3,887.62 |
Location
Meadway Court is situated on Rutherford Close off Gunnels Wood Road. To the immediate south of the property on Gunnels Wood Road is the prime industrial location in Stevenage which hosts schemes such as The Gunnels Wood Park Estate. Gunnels Wood Road is an important location for industrial occupiers needing easy access to the Midlands and Southern Markets in the UK. Stevenage benefits from excellent road communications, with Junctions 7 and 8 of the A1(M) approximately 2 miles from Meadway Court. The A1(M) also provides further quick access to the M25, M1 and M11. Stevenage railway station is a short walk from the property and benefits from frequent services to London Kings Cross and Moorgate, with a travel time of approximately 19 mins and 35 minutes, respectively. Stevenage is also home to influential global occupiers including Airbus Defence and Space, Fujitsu, GSK and MBDA and has an increasing demand for life science occupiers.
Get directions from Google Maps
Mainline Stations
-
Stevenage14 mins
-
Knebworth61 mins
-
Hitchin70 mins
-
Letchworth Garden City96 mins
Underground Station
-
Broxbourne276 mins
-
Crews Hill313 mins
-
Cheshunt318 mins
-
Hadley Wood322 mins
Further Information
Price £6,500,000
EPC Rating This property has been graded as D
Description
Meadway Court is a modern office complex constructed around an attractive central courtyard. The building are arranged over two and three storeys within a landscaped area providing dedicated onsite car parking for 196 cars. The building is split up into 24 self contained office suites all with their own self contained entrance, benefitting from four passenger lifts, suspended ceilings, excellent natural light, gas central heating and air conditioning.
Tenancies/ Income
The building is currently Let to 22 separate tenants on proportional Full Repairing & Insuring Leases for terms of 5- 10 years expiring from July 2026 to January 2036 at a total current rental income of £619,817.96 pax.
Three further units totalling 3,953 Sqft are currently vacant.
Once the building is fully Let ERV is £685,042.46 pax.
Corporate Purchase
The property is held in a UK SPV which is available to acquire by way of a corporate transaction significantly reducing purchaser’s costs.
Freehold Price
£6,500,000 plus Vat with the benefit of the current income and tenancies equating to a Yield of 9.53%
TOGC
The sale will be treated as a TOGC.
Identification
In accordance with Anti-Money Laundering Regulations, two forms of identification will be required from the successful purchaser.
Viewings
Strictly by appointment through owner’s Sole agents as above.
Gallery
