Key Features

• Recently re-geared (May 2024) office investment opportunity, with the tenant extending their occupation across all leases for a further 5 years term certain.
• The property extends to 55,803 sq ft NIA.
• Fully let to Accenture (UK) Limited on leases which expire on 20 December 2035, therefore providing an unexpired term of approximately 11.75 years to expiry.
• The leases contain a tenant break option in December 2030.
• Let at a low passing rent of £920,748 per annum, equating to just £16.50 per sq ft.
• The property has been comprehensively fitted out by the occupier and is operational 7-days a week.
• The tenant has a 5A1 D&B Rating with turnover in excess of £3bn, a pre-tax profit of £121m and a tangible net worth of £56m.
• Provides excellent sustainable and environmental credentials, with no reliance on natural gas for heating the building.
• The building benefits from List X Status, allowing the most sensitive government information to be processed on-site.
• Rated EPC A (Oct-33 expiry) and BREEAM ‘Excellent’
• Desirable car parking ratio of 1:241 sq ft with 232 car parking spaces
• The site extends to approximately 3-acres (1.23 hectares)
• Established business park location which continues to attract large blue-chip tenants.
• Location set to be enhanced by the opening of a new station at Northumberland Park Transit Interchange as part of the re-opening of the Northumberland Line, just 5 minutes’ drive away.
• Offers are sought in excess of £9,335,000 (Nine Million, Three Hundred and Thirty-Five Thousand Pounds) subject to contract and exclusive of VAT for the long leasehold interest. A purchase at this level reflects a highly attractive Net Initial Yield of 9.25% and a low capital price of £167 per sq ft.