Guide price
£1,400,000
Office for salePatrick House, Gosforth Park Avenue NE12
About this property
Fixed 8% Uplifts 3-yearly
Credit Safe Score 77/A (homecare plus lts).
Credit Safe Score 56/B (hold group limited).
Freehold interest.
Highly Reversionary
The property comprises a modern, high specification, two storey office.
• Well located in a popular business park, with generous demised car parking.
• Net internal area of 762 sqm (8,200 sq ft).
• The property is occupied by two established businesses, Homecare Plus Ltd and Hold Group Ltd.
• Investment Proposal: Unbroken 10-Year term with 3-yearly 8% uplifts in rental tone.
Year 1: £140,000 per annum (£17.07 per sq ft) / Net Initial Yield 9.43%
Year 3: £151,200 per annum (£18.43 per sq ft) / Net Initial Yield 10.18%
Year 6: £163,296 per annum (£19.91 per sq ft) / Net Initial Yield 11.00%
Year 9: £176,359 per annum (£21.50 per sq ft) / Net Initial Yield 11.88%
We are instructed to seek offers in the region of £1,400,000 (One Million, Four Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 9.43% assuming purchasers costs of 6.05%.
• Well located in a popular business park, with generous demised car parking.
• Net internal area of 762 sqm (8,200 sq ft).
• The property is occupied by two established businesses, Homecare Plus Ltd and Hold Group Ltd.
• Investment Proposal: Unbroken 10-Year term with 3-yearly 8% uplifts in rental tone.
Year 1: £140,000 per annum (£17.07 per sq ft) / Net Initial Yield 9.43%
Year 3: £151,200 per annum (£18.43 per sq ft) / Net Initial Yield 10.18%
Year 6: £163,296 per annum (£19.91 per sq ft) / Net Initial Yield 11.00%
Year 9: £176,359 per annum (£21.50 per sq ft) / Net Initial Yield 11.88%
We are instructed to seek offers in the region of £1,400,000 (One Million, Four Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 9.43% assuming purchasers costs of 6.05%.
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