Discovery House, Whiting Road, Norwich, NR4 6EJ
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£2,700,000
Aug 2022
Atlas Real Estate has successfully acquired a single-let office investment in Norwich, on behalf of Kindale.
Discovery House extends to 22,113 sq. ft. and includes car parking for 90 vehicles.
The property is let in its entirety to Clydesdale Bank Plc, providing c.8 years unexpired term. The property generates a low annual rent of £226,500 reflecting £10.24 per sq. ft, subject to review in June 2025.
The property was aqcuired for £2,700,000, reflecting a net initial yield of 7.88% and a low capital value of £122 per sq. ft.
ACRE Capital Real Estate acted for the vendor.
