Property overview

Atlas Real Estate has recently completed the sale of a modern business park office on the established Grove Park Business Park in Leicester.

The property comprises a modern mid terraced office building totalling 2,106 sq.ft in a landscaped environment with self contained car park.  The offices were built in 2005 and benefit from 10 car parking spaces.

The building is let to My Home Move Limited for a term of 5 years with effect from 7^th October 2016.

The passing rent is £33,600 per annum which reflects £15.95 per sq.ft.

The purchase price of £525,000 reflects a net initial yield of 6.11%, assuming purchaser’s costs of 4.90% and a capital value of £250 per sq.ft

The purchaser was The Bosworth Family Charity who were represented by Harris Lamb.