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Imperial Place 2 Office Properties Offered at $80,291,189 in Borehamwood
INVESTMENT HIGHLIGHTS
- The portfolio is let to 18 tenants including Taylor Wimpey UK and Simarc Property Management
- There is also the potential for alternative uses such as film studio, industrial and residential and an opportunity to develop additional offices
- The passing rent is reversionary, at a 20% discount to Borehamwood’s market headline rent of £32.50 per square foot
EXECUTIVE SUMMARY
Fronting onto Elstree Way, the buildings are located close to the town's famous film and TV studio developments.
The property is multilet to 17 tenants including Taylor Wimpey UK, Just Eat.co.uk and Simarc Property Management with a weighted unexpired lease term of 2.7 years to expiries and 1.8 years to breaks.
The guaranteed rental income is £4,947,291 per annum, reflecting £25.86 per square foot on the let office accommodation.
The passing rent is reversionary, at a 20% discount to Borehamwood’s market headline rent of £32.50 per square foot, which was achieved at Imperial Place.
The campus is being sold with significant asset management opportunities in the short to medium term including letting the existing vacancy within buildings IP1 and IP4 and repositioning building IP3.
There is also the potential for alternative uses such as film studio, industrial and residential and an opportunity to develop additional offices.
The property is multilet to 17 tenants including Taylor Wimpey UK, Just Eat.co.uk and Simarc Property Management with a weighted unexpired lease term of 2.7 years to expiries and 1.8 years to breaks.
The guaranteed rental income is £4,947,291 per annum, reflecting £25.86 per square foot on the let office accommodation.
The passing rent is reversionary, at a 20% discount to Borehamwood’s market headline rent of £32.50 per square foot, which was achieved at Imperial Place.
The campus is being sold with significant asset management opportunities in the short to medium term including letting the existing vacancy within buildings IP1 and IP4 and repositioning building IP3.
There is also the potential for alternative uses such as film studio, industrial and residential and an opportunity to develop additional offices.
PROPERTY FACTS
| Price | $80,291,189 | Number of Properties | 2 |
| Price / SF | $362.95 / SF | Individually For Sale | 0 |
| Cap Rate | 8.25% | Total Building Size | 221,216 SF |
| Sale Type | Investment | Total Land Area | 6.58 AC |
| Status | Pending |
| Price | $80,291,189 |
| Price / SF | $362.95 / SF |
| Cap Rate | 8.25% |
| Sale Type | Investment |
| Status | Pending |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 221,216 SF |
| Total Land Area | 6.58 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Imperial Place
Maxwell Rd, Borehamwood WD6 1JN |
Office | 181,965 SF | 1981 | - |
|
Imperial Place
Maxwell Rd, Borehamwood WD6 1JN |
Office | 39,251 SF | 1981 | - |
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Imperial Place
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