Property overview

Apex Park, Worcester, WR4 9FN

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Mar 2020

Atlas Real Estate has recently completed the sale of a modern office park investment on behalf of A&J Mucklow.

The property is strategically located adjacent to Junction 6 of the M5 and four miles north east of Worcester city centre.  Apex Park is considered the prime out of town office location in Worcester and provides four detached office buildings constructed in 20087 to a Grade A specification.  The scheme extends to 28,857 sq.ft with 144 car parking spaces.

The property is fully let to tenants including West Mercia Homes Ltd, Jelf Ltd, Lioncourt Homes Ltd and Arrow Business Communications Ltd with a WAULT of 6.5 years to break and 7.55 years to expiry.  The total passing rent is £458,948 per annum reflecting a low average rent of £15.26 per sq.ft.

The property sold for £6,150,000 which reflects a net initial yield of 7.00%.  The purchaser was Roquet Properties, represented by B2 Retail.