Offers in region of
£2,850,000
Office for saleKettering Parkway, Kettering Venture Park, Kettering NN15
Freehold
About this property
• Detached modern office building
• 101 car parking spaces with ratio of 1:146 sq. Ft.
• Situated on Kettering’s premier business park
• Adjacent to Junction 9 of the A14
• Accommodation of 14,782 sq. Ft. (1,373.20 sq. M.) on a site of approx. 1.16 acres.
• WAULT of 10.0 yrs to expiry and 7.26 yrs to break
• 2 established tenants in occupation for over 10 years
• Passing rent of £265,686.07 per annum exclusive
• Offers are invited in the region of £2,850,000 + VAT.
• Net initial yield of circa 8.77% based on purchase costs of approximately 6.25%.
Location
Kettering is an expanding commercial town in North Northamptonshire with a population of approximately 63,000 persons according to the 2021 census.
The town is located approximately 16 miles north of Northampton, 8 miles north of Wellingborough and 7 miles south of Corby. There is good transport links with the A14 situated immediately to the west and south of the town which provides direct access to the M1 and M6 to the west and A1(M) to the east. There is a mainline rail service in the town with direct access to London St Pancras.
The building forms part of Kettering Venture Park in a highly prominent corner position fronting Kettering Parkway and the A509. Junction 9 of the A14 is immediately to the south.
Nearby occupiers include Northamptonshire Healthcare, Logistex, Winkhaus, Kettering Park Hotel and Spa and Kettering Retail Park with a range of retail and restaurant occupiers.
Description
Vantage House comprises a modern, two-storey headquarters style office building on a self-contained site. We understand was built in 1995 and refurbished in 2014. The building benefits from a high quality specification including:
• Communal reception area
• Raised access floors
• Suspended ceiling
• Ducted air conditioning
• 8 person passenger lift
• Male, female and disabled access WC’s
• Partitioned meeting rooms and open plan offices
On three sides of the building is a car park with 101 spaces.
Accommodation
The site comprises an overall area of 1.16 acres. The building has the following approximate net internal areas:
Reception - 38.8 sq. M. (418 sq. Ft.)
Ground - 651.40 sq. M. (7,012 sq. Ft.)
First - 683.0 sq. M. (7,352 sq. Ft.)
Total - 1,373.20 sq. M. (14,782 sq. Ft.)
All areas quoted have been measured from plans provided to us and are subject to a full measured survey.
Terms
The freehold interest under Title Number NN163132 is available for sale subject to the tenancies in place. Offers are invited in the region of £2,850,000 plus VAT. Based on the current income of £265,686.07 per annum this represents a net initial yield of circa 8.77% based on purchase costs of approximately 6.25%.
VAT
All figures are quoted exclusive of VAT and we are informed by our client that VAT is payable on the purchase price.
Viewing Contact
Strictly by appointment with the Sole Agents Berrys
• 101 car parking spaces with ratio of 1:146 sq. Ft.
• Situated on Kettering’s premier business park
• Adjacent to Junction 9 of the A14
• Accommodation of 14,782 sq. Ft. (1,373.20 sq. M.) on a site of approx. 1.16 acres.
• WAULT of 10.0 yrs to expiry and 7.26 yrs to break
• 2 established tenants in occupation for over 10 years
• Passing rent of £265,686.07 per annum exclusive
• Offers are invited in the region of £2,850,000 + VAT.
• Net initial yield of circa 8.77% based on purchase costs of approximately 6.25%.
Location
Kettering is an expanding commercial town in North Northamptonshire with a population of approximately 63,000 persons according to the 2021 census.
The town is located approximately 16 miles north of Northampton, 8 miles north of Wellingborough and 7 miles south of Corby. There is good transport links with the A14 situated immediately to the west and south of the town which provides direct access to the M1 and M6 to the west and A1(M) to the east. There is a mainline rail service in the town with direct access to London St Pancras.
The building forms part of Kettering Venture Park in a highly prominent corner position fronting Kettering Parkway and the A509. Junction 9 of the A14 is immediately to the south.
Nearby occupiers include Northamptonshire Healthcare, Logistex, Winkhaus, Kettering Park Hotel and Spa and Kettering Retail Park with a range of retail and restaurant occupiers.
Description
Vantage House comprises a modern, two-storey headquarters style office building on a self-contained site. We understand was built in 1995 and refurbished in 2014. The building benefits from a high quality specification including:
• Communal reception area
• Raised access floors
• Suspended ceiling
• Ducted air conditioning
• 8 person passenger lift
• Male, female and disabled access WC’s
• Partitioned meeting rooms and open plan offices
On three sides of the building is a car park with 101 spaces.
Accommodation
The site comprises an overall area of 1.16 acres. The building has the following approximate net internal areas:
Reception - 38.8 sq. M. (418 sq. Ft.)
Ground - 651.40 sq. M. (7,012 sq. Ft.)
First - 683.0 sq. M. (7,352 sq. Ft.)
Total - 1,373.20 sq. M. (14,782 sq. Ft.)
All areas quoted have been measured from plans provided to us and are subject to a full measured survey.
Terms
The freehold interest under Title Number NN163132 is available for sale subject to the tenancies in place. Offers are invited in the region of £2,850,000 plus VAT. Based on the current income of £265,686.07 per annum this represents a net initial yield of circa 8.77% based on purchase costs of approximately 6.25%.
VAT
All figures are quoted exclusive of VAT and we are informed by our client that VAT is payable on the purchase price.
Viewing Contact
Strictly by appointment with the Sole Agents Berrys
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Monthly repayment
£14,257 per month
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