Matheson House | Grange Central
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Matheson House Grange Central
163,711 SF Office Building Telford TF3 4ER $13,392,236 ($82/SF) 13% Cap Rate
Investment Highlights
- Single-let office building totalling 134,993 sq ft, arranged over ground and 4 upper floors
- Passing rent of £1,469,095 per annum, which equates to a low rent per sq ft of £11.00
- Unexpired term of 3.5 years to expiry with no breaks
- Let to undoubted covenant Capgemini (UK) PLC who have a 5A1 D&B rating and have been in occupation since 2004.
- Large 11.87-acre site in a excellent location, offering long term redevelopment potential (subject to necessary planning consents).
- Telford is an affluent town in the West Midlands, located 150 miles north west of London
Executive Summary
Prime multi let asset within the centre of Cardiff, comprising of a modern 5-storey 43,905 sqft building, 80% let to 5 A1 rated tenants with an AWULT of 6.7 years to expiry and 3.7 years to break. Passing rent of £999,688 per annum. The net income is £969,563. Evidenced reversion within the building, £28.00 psf recently being achieved on the second floor. Over the past 24 months, the property has demonstrated strong leasing activity, with 4 new leases/regears, covering more than 50% of the available space. Free hold site extends to 0.47 acres. The amenities include: 55 car parking spaces, shower facilities, 25-hour access and concierge reception.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
163,711 SF
Building Class
C
Year Built
1969
Price
$13,392,236
Price Per SF
$82
Cap Rate
13%
NOI
$1,740,991
Tenancy
Single
Building Height
5 Stories
Typical Floor Size
26,999 SF
Building FAR
0.51
Land Acres
7.34 AC
Amenities
- 24 Hour Access
- Atrium
- Conferencing Facility
- Security System
- Energy Performance Rating - B
- Reception
- Roof Terrace
- Basement
- Central Heating
- Common Parts WC Facilities
- Direct Elevator Exposure
- Air Conditioning
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Matheson House | Grange Central
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