Bridgwater Rd
Worcester WR4 9FP
Acorn House · Office Property For Sale
INVESTMENT HIGHLIGHTS
- Fully let to two major occupiers
- Refurbishment of raised floors, modernisation of washrooms, installation of new ceilings and LED lighting, and implementation of a new VRF air con
- Undergone extensive refurbishment, elevating it to a Category A specification at an approximate cost of £1 million.
EXECUTIVE SUMMARY
Let to two excellent covenants, Marsh Corporate Services Ltd and SpaMedica Ltd, producing £274,642 pa with a WAULT of 6.10 years to expiry and 3.64 years to break.
To seek offers in excess of £2,800,000 reflecting an attractive net initial yield of 9.22%, assuming standard purchaser’s costs of 6.80%.
This price reflects a low capital value of only £173.12 psf
To seek offers in excess of £2,800,000 reflecting an attractive net initial yield of 9.22%, assuming standard purchaser’s costs of 6.80%.
This price reflects a low capital value of only £173.12 psf
PROPERTY FACTS In Escrow
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
16,174 SF
Building Class
B
Year Built
2000
Price
$2,984,718
Price Per SF
$184.54
Cap Rate
11.43%
NOI
$341,153
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
8,087 SF
Building FAR
0.35
Lot Size
1.07 AC
Parking
39 Spaces (2.41 Spaces per 1,000 SF Leased)
AMENITIES
- Raised Floor
- Security System
- Energy Performance Rating - E
- Central Heating
- Demised WC facilities
- Direct Elevator Exposure
- Open-Plan
- Shower Facilities
- Drop Ceiling
