Crown Buildings | 13 Laneham St
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Crown Buildings 13 Laneham St
30,609 SF 100% Leased Office Building Scunthorpe DN15 6LJ $3,037,936 ($99/SF) 7.70% Cap Rate
Investment Highlights
- Office investment Let to Government Department with 5 years unexpired term remaining
- Edge of town location with good access to the railway station and on-site car parking (60 Spaces)
- Would potentially suit residential conversion, hotel or business centre, subject to planning
- Rent review in June 2024 which is subject to an RPI increase (May 2024) with a cap and collar arrangement estimated to be circa £200,000 per annum
- Net initial yield of 6.84% allowing for purchasers costs
Executive Summary
Office investment for sale. The property is let to Government Department with 5 years unexpired term remaining.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
30,609 SF
Building Class
B
Year Built
1981
Price
$3,037,936
Price Per SF
$99
Cap Rate
7.70%
NOI
$233,769
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
7,652 SF
Building FAR
0.77
Land Acres
0.91 AC
Amenities
- 24 Hour Access
- Security System
- Secure Storage
- Yard
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Crown Buildings | 13 Laneham St
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