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Phoenix House 1 Wards Rd 4,600 SF 100% Leased Office Building Elgin IV30 1QL $943,012 ($205.00/SF) 8.21% Cap Rate
Investment Highlights
- Next door to Elgin station
- Lots of available parking
Executive Summary
The property is fully let to two tenants (100% occupancy), providing a secure and diversified income stream. The current passing rent is £60,000 per annum, which is considered reversionary, with potential to increase to £67,500 per annum at review. The weighted average unexpired lease term (WAULT) is 8.48 years, with a WAULT to break (WAULTC) of 4.90 years, offering a good balance of income security and asset management opportunities.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
4,600 SF
Building Class
B
Year Built
1985
Price
$943,012
Price Per SF
$205.00
Cap Rate
8.21%
NOI
$77,421
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
2,300 SF
Building FAR
1.84
Lot Size
0.06 AC
Amenities
- Security System
- Kitchen
- Fully Carpeted
- Secure Storage
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Presented by
Shepherd Chartered Surveyors
Phoenix House | 1 Wards Rd
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