No longer on the market
This property is no longer on the market
MapProperty
Under offer
Property
33140
Features and description
UNDER OFFER - LOW RENTED 2030 MEES COMPLIANT OFFICE INVESTMENT UNDERPINNED BY ALTERNATIVE US VALUE
Single let office investment in a prime mixed commercial use business area, 27 miles north of London.
Strategically located with excellent accessibility, the M11 motorway is located 3.5 miles to the east, providing a direct link to the M25 (J27) and the national motorway network.
Located within Harlow Business Park with other notable occupiers including CEF, Pearson, Clipper, Teva Pharmaceutical Industries, G4S Cash Solutions, Dulux, Fedex and Raytheon.
A prominent self-contained HQ office totalling 33,140Šsq ft (3,079Šsq m) located on the established Harlow Business Park.
Large car park comprising approximately 154 car parking spaces providing an excellent parking ratio of 1:213 sq ft.
A FRI lease renewal was agreed with the strong covenant of Exela Technologies Ltd who have been in occupation for over 20 years (Outside 1954 Act).
Unexpired term of 4.54Šyears.
Passing rent of £424,482.20 per annum (£12.81Šper sq ft).
Freehold.
The 1.9 acre site could allow futured industrial redevelopment of the site.
Current passing rent is well below prime industrial (£13.50 per sq ft) and offices rents (£20.00 per sq ft) in Harlow.
We are instructed to seek offers in excess of £3,985,000 (Three Million Nine Hundred and Eighty Five Thousand Pounds)Šsubject to contract and exclusive of VAT. A purchase at this level reflects an attractive Net Initial Yield of 10.00%. A low Capital Value of £121 per sq ft and £2,100,000 per acre after purchaser's costs of 6.54%.
Single let office investment in a prime mixed commercial use business area, 27 miles north of London.
Strategically located with excellent accessibility, the M11 motorway is located 3.5 miles to the east, providing a direct link to the M25 (J27) and the national motorway network.
Located within Harlow Business Park with other notable occupiers including CEF, Pearson, Clipper, Teva Pharmaceutical Industries, G4S Cash Solutions, Dulux, Fedex and Raytheon.
A prominent self-contained HQ office totalling 33,140Šsq ft (3,079Šsq m) located on the established Harlow Business Park.
Large car park comprising approximately 154 car parking spaces providing an excellent parking ratio of 1:213 sq ft.
A FRI lease renewal was agreed with the strong covenant of Exela Technologies Ltd who have been in occupation for over 20 years (Outside 1954 Act).
Unexpired term of 4.54Šyears.
Passing rent of £424,482.20 per annum (£12.81Šper sq ft).
Freehold.
The 1.9 acre site could allow futured industrial redevelopment of the site.
Current passing rent is well below prime industrial (£13.50 per sq ft) and offices rents (£20.00 per sq ft) in Harlow.
We are instructed to seek offers in excess of £3,985,000 (Three Million Nine Hundred and Eighty Five Thousand Pounds)Šsubject to contract and exclusive of VAT. A purchase at this level reflects an attractive Net Initial Yield of 10.00%. A low Capital Value of £121 per sq ft and £2,100,000 per acre after purchaser's costs of 6.54%.
Property information from this agent
About this agent
Avison Young creates economic, social and environmental value as a global real estate advisor, powered by people. At Avison Young, we believe in creating positive impact wherever we go. There is a vital role for commercial real estate to create healthy, productive workplaces for employees, cities that are centres of prosperity for its citizens, and built spaces and places that create a net benefit to the economy, the environment and the community. Our nimble, agile team has global insight, local market expertise and access to some of the smartest technology in the commercial real estate industry – all at the ready to work on creating your competitive advantage. As a private company, you will collaborate with an empowered partner who is invested in your success as much as you are.