Property overview

We are instructed to market this fully let high yielding, office investment opportunity.  The salient details are:

• Modern high yielding office investment opportunity
• Located on the established Keytec 7 Business Park, one mile to the north of Pershore, seven miles to the west of Evesham and nine miles to the south east of Worcester
• Situated adjacent to A44 providing direct access to J6 and J7 of M5, to the west, and Evesham and the Cotswolds to the south east
• Modern three storey office building, constructed in the mid 2000s, with 33 external car parking spaces
• Total net internal floor area is 5,713 sq.ft, providing six office suites with individual suites sizes of circa 950 sq.ft
• The property is fully let to five tenants with an average unexpired lease term to break of 1.95 years and to expiry 4.2 years
• Tenants including NFU Mutual, who occupy a third of the building, and four other national/regional occupiers
• Total income of £72,060 per annum, which reflects a low average rent of £12.62 per sq.ft
• Recent lettings agreed at between £13.00 – £13.50 per sq.ft proving a strong reversion

We are instructed to seek offers in excess of £670,000 subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 10.20%, subject to purchaser’s costs of 5.93%, a low capital value of £117 per sq.ft.