71-77 Wheelwright Ln 8,512 SF 100% Leased Office Building Coventry CV6 4HN $3,489,605 ($409.96/SF) 7.53% Cap Rate
INVESTMENT HIGHLIGHTS
- Freehold healthcare property occupied by NHS GP practice, dentist, and pharmacy
- Secure long term income with outstanding rent reviews and asset management potential
- Located within popular residential suburb of Holbrooks approx. 2 miles north of Coventry City Centre
- Fully let on coterminous leases expiring September 2041 at total passing rent of £208,230 p.a.x.
- Approx. 8,512 sq. ft. on a site area of 0.77 acre
- Offers invited in the order of £2.6m reflecting a net initial yield of 7.53% (assumes purchaser’s costs of 6.4%)
EXECUTIVE SUMMARY
o Freehold healthcare property occupied by NHS GP practice, dentist, and pharmacy
o Fully let on coterminous leases expiring September 2041 at total passing rent of £208,230 p.a.x.
o Secure long term income with outstanding rent reviews and asset management potential
o Approx. 8,512 sq. ft. on a site area of 0.77 acre
o Located within popular residential suburb of Holbrooks approx. 2 miles north of Coventry City Centre
o Offers invited in the order of £2.6m reflecting a net initial yield of 7.53% (assumes purchaser’s costs of 6.4%)
o Fully let on coterminous leases expiring September 2041 at total passing rent of £208,230 p.a.x.
o Secure long term income with outstanding rent reviews and asset management potential
o Approx. 8,512 sq. ft. on a site area of 0.77 acre
o Located within popular residential suburb of Holbrooks approx. 2 miles north of Coventry City Centre
o Offers invited in the order of £2.6m reflecting a net initial yield of 7.53% (assumes purchaser’s costs of 6.4%)
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
PROPERTY FACTS Sale Pending
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Subtype
Medical
Building Size
8,512 SF
Building Class
B
Year Built
2004
Price
$3,489,605
Price Per SF
$409.96
Cap Rate
7.53%
NOI
$262,767
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,256 SF
Building FAR
0.25
Lot Size
0.77 AC
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