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Crown Buildings Laneham St 24,038 SF Office Building Scunthorpe DN15 6LJ $3,197,740 ($133.03/SF) 7.70% Cap Rate
INVESTMENT HIGHLIGHTS
- Office investment Let to Government Department with 5 years unexpired term remaining
- Edge of town location with good access to the railway station and on-site car parking (60 Spaces)
- Would potentially suit residential conversion, hotel or business centre, subject to planning
- Rent review in June 2024 which is subject to an RPI increase (May 2024) with a cap and collar arrangement estimated to be circa £200,000 per annum
- Net initial yield of 6.84% allowing for purchasers costs
EXECUTIVE SUMMARY
Office investment for sale. The property is let to Government Department with 5 years unexpired term remaining.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
24,038 SF
Building Class
C
Year Built
1981
Price
$3,197,740
Price Per SF
$133.03
Cap Rate
7.70%
NOI
$246,066
Tenancy
Single
Building Height
3 Stories
Typical Floor Size
9,303 SF
Building FAR
0.61
Lot Size
0.91 AC
Parking
60 Spaces (2.5 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Bus Line
- Security System
- Secure Storage
- Yard
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Crown Buildings | Laneham St
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