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Arden House Siskin Dr 24,548 SF Office Building Coventry CV3 4FJ $5,995,763 ($244.25/SF) 10.92% Cap Rate
INVESTMENT HIGHLIGHTS
- Great location
- Car parking
- Good connectivity
EXECUTIVE SUMMARY
The investment benefits from over seven years unexpired term with an upwards only rent review in December 2027 in line with uncapped RPI, annually compounded.
To be sold Long Leasehold by way of a new underlease expiring February 2992.
Offers in excess of £4,500,000 (Four Million Five Hundred Thousand Pounds) reflecting a net initial yield of 10.92%, an estimated reversionary yield of 13.68% and a capital value of £183 per sq ft assuming standard purchasers’ costs of 6.57%.
To be sold Long Leasehold by way of a new underlease expiring February 2992.
Offers in excess of £4,500,000 (Four Million Five Hundred Thousand Pounds) reflecting a net initial yield of 10.92%, an estimated reversionary yield of 13.68% and a capital value of £183 per sq ft assuming standard purchasers’ costs of 6.57%.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Office
Tenure
Long Leasehold
Building Size
24,548 SF
Building Class
B
Year Built
1995
Price
$5,995,763
Price Per SF
$244.25
Cap Rate
10.92%
NOI
$654,737
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
12,274 SF
Building FAR
0.19
Lot Size
2.99 AC
Parking
127 Spaces (5.17 Spaces per 1,000 SF Leased)
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Arden University Limited
- Educational Services
- 24,548 SF
- $28.49
- Dec 2032
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Arden University Limited | Educational Services | 24,548 SF | $28.49 | Dec 2032 |
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Arden House | Siskin Dr
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