Hampshire International Business Park | Cromwell Pl
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Hampshire International Business Park Cromwell Pl
31,159 SF 100% Leased Office Building Chineham RG24 8GQ $4,282,131 ($137/SF) 9.33% Cap Rate
Investment Highlights
- Transfer of Going Concern sale
- Strategic office location in North Hampshire, located along the M3 corridor
- 136 car parking spaces
Executive Summary
Prime investment opportunity at £3,500,000 subject to contract and exclusive of VAT. A purchase at this level reflects an attractive Net Initial Yield of 9.33% and a low capital value of £112 psf.
Cromwell Place is a modern 4-storey, corporate office building constructed in circa 1992. The L-shaped suites benefit from south facing panoramic views towards Chineham and Basingstoke Town Centre. The double height reception provides direct access to all floors by way of two 13-person lifts or the staircase. Recent M&E improvements have included upgrading the chillers and the installation of new boilers for a total cost of £311,032. The second floor is currently vacant and benefits from the existing Cat B fit out. The second floor can be divided to provide suite sizes of approximately 4,000 sq ft or 6,000 sq ft.
Cromwell Place is a modern 4-storey, corporate office building constructed in circa 1992. The L-shaped suites benefit from south facing panoramic views towards Chineham and Basingstoke Town Centre. The double height reception provides direct access to all floors by way of two 13-person lifts or the staircase. Recent M&E improvements have included upgrading the chillers and the installation of new boilers for a total cost of £311,032. The second floor is currently vacant and benefits from the existing Cat B fit out. The second floor can be divided to provide suite sizes of approximately 4,000 sq ft or 6,000 sq ft.
Property Facts Sale Pending
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
31,159 SF
Building Class
C
Year Built
1992
Price
$4,282,131
Price Per SF
$137
Cap Rate
9.33%
NOI
$399,523
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
7,790 SF
Building FAR
0.83
Lot Size
0.86 AC
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Hampshire International Business Park | Cromwell Pl
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