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Property
Property description & features
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%.
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