ATTRACTIVE HIGH YIELDING MULTI-LET OFFICE INVESTMENT OFFERING IMMEDIATE INCOME AND ASSET MANAGMENT OPPORTUNITIES
Summary
- The subject property has 30,150 sq ft net lettable area (NLA) of Grade A multi-let office accommodation from a total of 38,330 sq ft (NIA).
- The property was refurbished and extended in 2022 to an excellent specification following £5.3m of capex (£140 psf), resulting in best in class office suites, with low total occupancy costs
- The accommodation has been divided into office suites ranging from 1,000 sq ft to 7,000 sq ft
- Current total rental income: £670,617.50 per annum (£22.50 per sq ft overall)
- The freehold site is 0.917 acres (0.371 hectares).
- Offers invited in excess of £7,000,000 (Seven Million Pounds) representing a Net Initial Yield of 8.96%, assuming purchasers cost of 6.65%. Reflecting a low capital value of £182 per sq ft NIA.
Accommodation
The accommodation comprises the following areas:
| Name | sq ft | sq m | Availability |
| Ground - Playmobil UK Ltd | 6,815 | 633.13 | Available |
| Ground - Suites 17,18,19 | 737 | 68.47 | Available |
| 1st - Unique Forwarding | 4,457 | 414.07 | Available |
| 1st - Vacant, Suite 4 | 1,012 | 94.02 | Available |
| 1st - Vacant, Suite 6 | 1,755 | 163.04 | Available |
| 1st - Vacant, suite 15 | 1,130 | 104.98 | Available |
| 2nd - Stonebridge Mortgage | 4,667 | 433.58 | Available |
| 2nd - Store Maintenance | 2,411 | 223.99 | Available |
| 2nd - AGI Global | 1,335 | 124.03 | Available |
| 2nd - IPP Facilities Limited | 3,057 | 284 | Available |
| 2nd - East Bridge Recruitment Ltd | 1,152 | 107.02 | Available |
| 2nd - Vacant, Suite 14 | 1,647 | 153.01 | Available |
| Total | 30,175 | 2,803.34 |
Location
Basildon, situated in Essex, is the largest town and primary commercial hub in the Borough of Basildon. Located
approximately 11 miles (17.6km) south of Chelmsford and 26 miles (41.6km) east of Central London, it occupies a strategic
position within the northern part of the Thames Gateway, the UK’s largest regeneration area.
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Mainline Stations
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Basildon24 mins
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Laindon36 mins
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Pitsea54 mins
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Wickford65 mins
Underground Station
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Shenfield120 mins
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Brentwood135 mins
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Ockendon162 mins
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Upminster174 mins
Further Information
Price £7,000,000
Description
The property comprises a three-storey office building that has been comprehensively refurbished and substantially extended, with works completed in late 2022.
The landlord invested approximately £5.3 million in capital expenditure, equating to circa £140 per sq ft. The original building has been significantly enhanced through the addition of a two-storey rear extension, delivering a total of 38,330 sqft of high-quality Cat A office accommodation, complemented by generous communal areas.
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