Price Guide £1,600,000 - Darlington

Freehold

Sold

Property Details

Multi-let office investment incorporating undoubted public sector covenant and strong tenant mix.

Investment Analysis:-

Attractive market town with an established commercial sector having recently attracted HM Treasury North, The Department for International Trade and Amazon.

Strategically positioned in the heart of the town centre commercial district with swift access to A66 (T) and A1 (M). 14 miles from Tees Valley , 20 from miles Durham, 30 miles from Newcastle, 50 miles from York

Darlington Mainline Railway Station 10 minutes walking distance. Fastest journey times London 2h20m Edinburgh 2h10m.

Teesside International Airport 5 miles distant. Newcastle International Airport 42 miles. Leeds Bradford International Airport 58 miles.

Detached modern office investment incorporating undoubted public sector covenant and strong national and regional occupiers.

Freehold title extending to approximately 1.02 acres

74 marked car parking spaces (Exceptional Ratio: 1:250sq.ft.)

Established rental level £10.50psf

Opportunity to increase rental yield through refurbishment of part of the ground floor

18,454sq.ft. with opportunity to increase net-lettable area through re-configuration of ground floor.

Landlord Top Up £31,243.75pa for 12 months from completion.

Net initial yield 9.99% after assuming standard purchaser's costs at 6.14%

Reversionary yield 11.26% through active asset management

Low Capital Value £86.70psf

Overview

Price: Price Guide £1,600,000
Type: Investment

Local Branch

Darlington
18 St. Cuthberts Way, Darlington,
Co Durham, DL1 1GB
01325 466945