Log In/Sign Up
Your email has been sent.
Bennett House Town Rd 48,899 SF 100% Leased Office Building Stoke On Trent ST1 2QB $4,461,087 ($91.23/SF) 12.85% Cap Rate
Investment Highlights
- 167 onsite parking spaces
- On the edge of Hanley city centre.
Executive Summary
An opportunity to acquire a modern fully let office building.
79% let to The Secretary of State for Housing, Communities and Local Government, who have occupied the building since 2002, offering secure income supported by strong public sector covenants. 21% let to the NHS, who have exercised their break option dated 31/03/2027.
Comprises 44,786 sqft (4,161 sqm) arranged over three floors. Provides 167 on-site car parking spaces, equating to a parking ratio of 1:268 sqft. Produces a passing rent of £451,602 per annum, reflecting a low average rent of £10.08 per sqft inclusive of parking spaces. Headline ERV of £551,000 per annum. Provides a WAULT of 2.22 years to lease breaks. 100% of current income secured against UK Government-backed occupiers.
79% let to The Secretary of State for Housing, Communities and Local Government, who have occupied the building since 2002, offering secure income supported by strong public sector covenants. 21% let to the NHS, who have exercised their break option dated 31/03/2027.
Comprises 44,786 sqft (4,161 sqm) arranged over three floors. Provides 167 on-site car parking spaces, equating to a parking ratio of 1:268 sqft. Produces a passing rent of £451,602 per annum, reflecting a low average rent of £10.08 per sqft inclusive of parking spaces. Headline ERV of £551,000 per annum. Provides a WAULT of 2.22 years to lease breaks. 100% of current income secured against UK Government-backed occupiers.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
48,899 SF
Building Class
B
Year Built/Renovated
2002/2019
Price
$4,461,087
Price Per SF
$91.23
Cap Rate
12.85%
NOI
$573,250
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
15,750 SF
Building FAR
0.69
Lot Size
1.63 AC
Parking
28 Spaces (0.59 Spaces per 1,000 SF Leased)
Amenities
- Security System
- Signage
- Storage Space
- Common Parts WC Facilities
- Fully Carpeted
- Direct Elevator Exposure
- Secure Storage
- Shower Facilities
- Air Conditioning
- Smoke Detector
- Raised Floor System
1 1
1 of 6
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Company Not Provided
Bennett House | Town Rd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.