Civic Dr
Ipswich IP1 2AN

Brooke Lawrance House · Office Property For Sale

INVESTMENT HIGHLIGHTS

  • Dedicated multi-storey car park with Amazon drop facility excellent car parking ratio of 1:251 sq ft
  • Ability to carry out a number of shortterm value add initiatives to optimise returns over hold period
  • Fully let to four tenants, providing an attractive WAULT of 7.32 years to break, 12.15 years to expiry

EXECUTIVE SUMMARY

The building provides 137,158 sq ft of Grade A office accommodation across lower ground, ground and seven upper floors.
The site also benefits from an 8-storey car park providing an exceptional car parking ratio of 1:251 sq ft.
Originally the building was wholly occupied by AXA, who have gradually consolidated onto four floors over the past 3 years, whilst letting the remaining space to HMRC, AJ Gallagher and Smartest Energy.
Brooke Lawrance House benefits from a substantial on-site café on the lower ground floor and additional end-of-journey facilities including a shower block, drying room and Amazon drop facility.
The Landlord has undertaken a series of renovations and upgrades in recent years. A total spend of £4.03m since 2019, which includes LED lighting throughout, new showers/toilets and new perimeter fan coil units with variable speed fan motors. A full PPM is available upon request.

PROPERTY FACTS Sale Pending

Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
137,158 SF
Building Class
B
Year Built
1978
Price
$18,689,492
Price Per SF
$136
Cap Rate
12.56%
NOI
$2,347,400
Percent Leased
100%
Tenancy
Multiple
Building Height
9 Stories
Typical Floor Size
15,240 SF
Building FAR
3.89
Lot Size
0.81 AC
  • Listing ID: 31082181

  • Date on Market: 2/29/2024

  • Last Updated:

  • Address: Civic Dr, Ipswich IP1 2AN