1 Miles Road | Basildon SS14 3FR
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- LoopNet Team
1 Miles Road
Basildon SS14 3FR
Regency House · Office Property For Sale
INVESTMENT HIGHLIGHTS
- The property was refurbished and extended in 2022 to an excellent specification following £5.3m of capex (£140 psf)
- Asset management opportunities include adding PV solar panels to the roof, to sell the power direct to the tenants and surplus back to National Grid
- The property is 80% let, with 12 month vendor rental guarantees on the remainder
- Marketing Rent Roll: £670,618 per annum (£22.50 psf overall)
- Offers invited in excess of £7,600,000, representing a Net Initial Yield of 8.27%, assuming standard purchaser's costs of 6.66%
PROPERTY FACTS
Property Type
Office
Property Size
38,330 sq ft
Costar Property Class
B
Year Built/Renovated
1999/2022
Occupancy Rate
85%
Tenancy
Multiple
Number of Floors
3
Typical Floor Size
13,875 sq ft
Plot ratio
0.93
Total Plot Size
0.95 ac
Parking
109 Spaces (2.84 Spaces per 1,000 sq ft Leased)
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