Investment for sale

FOR SALE - BOWEN COURT, ST ASAPH BUSINESS PARK, LL17 0JE
MULTI LET OFFICE PARK. INVESTMENT OPPORTUNITY.
30,141 sq ft across 3 buildings
99% occupied (200 sq ft vacant)
A strong mix of 36 tenants, many longstanding
A modern, multi let office park
Majority of units refurbished in last 4 years
Current passing rent c £290,000 pa
ERV = £336,000 pa
Sale due to retirement of current owner
Originally built by Gladman Developments
St Asaph Business Park is situated in a central location along the North Wales A55 and is widely regarded as the premier business park in North Wales. This modern high quality office development comprises a range of terraced and semi-detached offices.
30,141 sq ft across buildings 2, 4 & 6.
Buildings 3, 5 and 7 are let on long leases to expire prior to Head Lease.
Building 1 excluded from sale
Held by way of long lease to 2253
Quoting price = £2,695,000
To be sold by way of TOGC
A purchase at this level reflects a Net Initial Yield of 10.2% (assuming standard purchasers costs of 5.7%) and a reversionary yield of 11.5%.
A low capital value of £89.41 psf.
All enquiries to Legat Owen 01244 408200