8 Stanford St 23,992 SF Office Building Nottingham NG1 7BQ $5,306,166 ($221.16/SF) 7.45% Cap Rate
INVESTMENT HIGHLIGHTS
- Pennine House is a mid-nineteenth century built warehouse subsequently converted and currently used as office accommodation
- To the rear of the building accessed from Stanford Street is a surface carpark providing 59 on-site parking spaces.
- The property underwent extensive refurbishment to include an extension of part of the rear elevation and relocation of the lift shaft
EXECUTIVE SUMMARY
Offers are invited in excess of £4,000,000 (four million pounds) reflecting a net initial yield of 7.45% having allowed 6.54% purchaser costs.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
23,992 SF
Building Class
B
Year Built
1900
Price
$5,306,166
Price Per SF
$221.16
Cap Rate
7.45%
NOI
$395,309
Tenancy
Single
Building Height
7 Stories
Typical Floor Size
3,427 SF
Building FAR
4.04
Lot Size
0.14 AC
Parking
59 Spaces (2.46 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
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