Office

Discovery House, Ruddington Fields Business Park, Nottingham NG11 6JW

 

Quoting Price: £6,260,000 - Initial Yield:5.75%

Acting on behalf of Legal & General we are instructed to market this well secured long income office investment with annual RPI rent reviews.

The property comprises a comprehensively refurbished Grade A office measuring 25,184 sq ft (2,339.7 sq m) arranged over ground and first floor. Secure income let to Computerland UK Limited (guaranteed by Capita Plc) with an annual rent of £383,872 p.a. (£15.24 psf). Unexpired term of approximately 19.4 years and annual RPI linked uplifts with a 1% collar and 4% cap. Low site cover of approximately 17% providing potential for a further extension to the building and excellent car parking ratio of 1:206 sq ft (122 car parking spaces).

We are instructed to seek offers in excess of £6,260,000 (Six Million, Two Hundred and Sixty Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level represents an attractive net initial yield of 5.75% rising to 5.92% in Dec 2018 reflecting an equivalent yield of 6.88%*, after allowing for purchaser’s costs of 6.64%.

*The equivalent yield assumes RPI growth of 3% p.a. for the duration of the term.

Contact

John Ellison

Tel: 020 7493 3330
Mob: 07889 437 236
jellison@lewisellis.co.uk

James Caddick

Tel: 020 7493 3330
Mob: 07771 882 860
jcaddick@lewisellis.co.uk

James Elkington

Tel: 020 7493 3330
Mob: 07810722459
jelkington@lewisellis.co.uk


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