Property overview

York Biotech Campus is a rare long income Biotech and Life Science campus, which has formed part of the UK Government’s critical infrastructure for over 20 years.  A summary of the investment is set out below:

• International renowned Biotech and Life Science campus totalling 381,903 sq.ft on a site of 81.9 acres, which was originally built at a cost of £134 million
• Property comprises high specification labs, quarantine zines, high specification plant testing facilities, external crop testing zones, office and warehouse space along with a conference centre and extensive amenities
• Let to Capita Plc for a further 21.8 years
• 5 yearly reviews to RPI with collar and cap of 0-3.5% pa
• Headline rent of £3,364,557 pa (topped up) which is a low average rent of £8.81 per sq.ft
• Proven ERV of £5,414,000 pa which reflects £14.17 per sq.ft
• Tenant has invested over £13.3 million in the site over the last 8 years
• 63% of the underlying income derived from UK Government Agencies

Offers sought in excess of £48,470,000 which reflects a net initial yield of 6.50% and a headline reversionary yield of 10.46%.  Low capital value of £127 per sq.ft.