Summary
Multi-let office investment with medium term redevelopment potential in the heart of Swindon Central Business District.
| Property Type |
Investment / Office |
| Tenure |
For Sale |
| Size |
29,278 sq ft |
| Price |
Offers in excess of £3,282,085 |
| EPC Rating |
This property has been graded as C (70) |
- Located on a prominent corner plot, opposite Swindon Railway Station and adjacent to the new bus boulevard, part of the council’s £33m investment into the redevelopment of Fleming Way.
- The property extends to 29,278 sq ft, arranged over 5 floors
- Let to 8 tenants with a total passing rent of £384,422 pa reflecting a low average rent of £13.06 per sq ft.
- WAULT of 2 years, 7 months to expiry, 1 year, 11 months to break
- Freehold.
- Medium term office refurbishment or residential redevelopment opportunity; planning permission is in place to convert the adjoining office building into 58 flats.
- Prime town centre office rents currently stand at £23 per sq ft.
- We are instructed to seek offers in excess of £3,282,085 (Three Million Two Hundred Eighty-Two Thousand and Eighty-Five Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 11% and a capital value of £112 per sq ft, assuming purchasers’ costs of 6.48%.
- For further information, or if you would like to arrange a viewing please either contact myself or my colleague Ian lambert, on the contact details provided below.
