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Regency House 1 Miles Road 38,330 sq ft 85% Let Office Property Basildon SS14 3FR £7,000,000 (£182.62/sq ft) 8.96% Net Initial Yield
Investment Highlights
- The subject property has 30,150 sq ft net lettable area (NLA) of Grade A multi-let office accommodation from a total of 38,330 sq ft (NIA)
- The accommodation has been divided into office suites ranging from 1,000 sq ft to 7,000 sq ft
- The freehold site is 0.917 acres (0.371 hectares)
- The property was refurbished and extended in 2022 to an excellent specification following £5.3m of capex (£140 psf), resulting in best in class office suites, with low total occupancy costs
- Current total rental income: £670,617.50 per annum (£22.50 per sq ft overall)
- Offers invited in excess of £7,000,000 (Seven Million Pounds) representing a Net Initial Yield of 8.96%, assuming purchasers cost of 6.65%. Reflecting a low capital value of £182 per sq ft NIA
Executive Summary
The landlord invested approximately £5.3 million in capital expenditure, equating to circa £140 per sq ft. The original building has been significantly enhanced through the addition of a two-storey rear extension, delivering a total of 38,330 sq ft of high-quality Cat A office accommodation, complemented by generous communal areas.
Property Facts
Amenities
- Fenced Lot
- Wheelchair Accessible
- On-Site Security Staff
Major Tenants
- Tenant
- Industry
- sq ft Occupied
- Rent/sq ft
- Lease End
- AGI Global
- Professional, Scientific, and Technical Services
- 1,335 sq ft
- -
- Jul 2028
- Eastbridge Recruitment
- Professional, Scientific, and Technical Services
- 1,152 sq ft
- -
- Nov 2029
- Playmobil
- Wholesaler
- 6,815 sq ft
- -
- Oct 2033
- Stonebridge Mortgage
- Professional, Scientific, and Technical Services
- 4,667 sq ft
- -
- Nov 2033
- Store Maintenance
- Professional, Scientific, and Technical Services
- 1,755 sq ft
- -
- May 2034
| Tenant | Industry | sq ft Occupied | Rent/sq ft | Lease End | ||
| AGI Global | Professional, Scientific, and Technical Services | 1,335 sq ft | - | Jul 2028 | ||
| Eastbridge Recruitment | Professional, Scientific, and Technical Services | 1,152 sq ft | - | Nov 2029 | ||
| Playmobil | Wholesaler | 6,815 sq ft | - | Oct 2033 | ||
| Stonebridge Mortgage | Professional, Scientific, and Technical Services | 4,667 sq ft | - | Nov 2033 | ||
| Store Maintenance | Professional, Scientific, and Technical Services | 1,755 sq ft | - | May 2034 |
Space Availability
- Space
- Size
- Space Use
- Fit-Out
- Available
The property comprises an existing three storey office building which is currently being extended to provide CAT A offices available over two floors. The first floor will be available in suites that can be combined with the second floor capable of accommodating much larger requirements up to 15,000 sq. ft. The internal specification includes carpet tiling, raised access floors, suspended ceilings with recessed LED lighting, comfort cooling, 8 person lift, kitchen, ground floor reception and WCs on all floors. Access to the building is via an electric gate and on-site car parking is available approx. 1 space per 250 sq ft.
The property comprises an existing three storey office building which is currently being extended to provide CAT A offices available over two floors. The first floor will be available in suites that can be combined with the second floor capable of accommodating much larger requirements up to 15,000 sq. ft. The internal specification includes carpet tiling, raised access floors, suspended ceilings with recessed LED lighting, comfort cooling, 8 person lift, kitchen, ground floor reception and WCs on all floors. Access to the building is via an electric gate and on-site car parking is available approx. 1 space per 250 sq ft.
The property comprises an existing three storey office building which is currently being extended to provide CAT A offices available over two floors. The first floor will be available in suites that can be combined with the second floor capable of accommodating much larger requirements up to 15,000 sq. ft. The internal specification includes carpet tiling, raised access floors, suspended ceilings with recessed LED lighting, comfort cooling, 8 person lift, kitchen, ground floor reception and WCs on all floors. Access to the building is via an electric gate and on-site car parking is available approx. 1 space per 250 sq ft.
The property comprises an existing three storey office building which is currently being extended to provide CAT A offices available over two floors. The first floor will be available in suites that can be combined with the second floor capable of accommodating much larger requirements up to 15,000 sq. ft. The internal specification includes carpet tiling, raised access floors, suspended ceilings with recessed LED lighting, comfort cooling, 8 person lift, kitchen, ground floor reception and WCs on all floors. Access to the building is via an electric gate and on-site car parking is available approx. 1 space per 250 sq ft.
The property comprises an existing three storey office building which is currently being extended to provide CAT A offices available over two floors. The first floor will be available in suites that can be combined with the second floor capable of accommodating much larger requirements up to 15,000 sq. ft. The internal specification includes carpet tiling, raised access floors, suspended ceilings with recessed LED lighting, comfort cooling, 8 person lift, kitchen, ground floor reception and WCs on all floors. Access to the building is via an electric gate and on-site car parking is available approx. 1 space per 250 sq ft.
| Space | Size | Space Use | Fit-Out | Available |
| Ground-Ste 17 | 264 sq ft | Office | Partial Fit-Out | Now |
| 1st Fl-Ste 15 | 1,130 sq ft | Office | Partial Fit-Out | Now |
| 1st Fl-Ste 4 | 1,755 sq ft | Office | Partial Fit-Out | Now |
| 1st Fl-Ste 6 | 1,012 sq ft | Office | Partial Fit-Out | Now |
| 2nd Fl-Ste 14 | 1,647 sq ft | Office | Partial Fit-Out | Now |
Ground-Ste 17
| Size |
| 264 sq ft |
| Space Use |
| Office |
| Fit-Out |
| Partial Fit-Out |
| Available |
| Now |
1st Fl-Ste 15
| Size |
| 1,130 sq ft |
| Space Use |
| Office |
| Fit-Out |
| Partial Fit-Out |
| Available |
| Now |
1st Fl-Ste 4
| Size |
| 1,755 sq ft |
| Space Use |
| Office |
| Fit-Out |
| Partial Fit-Out |
| Available |
| Now |
1st Fl-Ste 6
| Size |
| 1,012 sq ft |
| Space Use |
| Office |
| Fit-Out |
| Partial Fit-Out |
| Available |
| Now |
2nd Fl-Ste 14
| Size |
| 1,647 sq ft |
| Space Use |
| Office |
| Fit-Out |
| Partial Fit-Out |
| Available |
| Now |
Ground-Ste 17
| Size | 264 sq ft |
| Space Use | Office |
| Fit-Out | Partial Fit-Out |
| Available | Now |
The property comprises an existing three storey office building which is currently being extended to provide CAT A offices available over two floors. The first floor will be available in suites that can be combined with the second floor capable of accommodating much larger requirements up to 15,000 sq. ft. The internal specification includes carpet tiling, raised access floors, suspended ceilings with recessed LED lighting, comfort cooling, 8 person lift, kitchen, ground floor reception and WCs on all floors. Access to the building is via an electric gate and on-site car parking is available approx. 1 space per 250 sq ft.
1st Fl-Ste 15
| Size | 1,130 sq ft |
| Space Use | Office |
| Fit-Out | Partial Fit-Out |
| Available | Now |
The property comprises an existing three storey office building which is currently being extended to provide CAT A offices available over two floors. The first floor will be available in suites that can be combined with the second floor capable of accommodating much larger requirements up to 15,000 sq. ft. The internal specification includes carpet tiling, raised access floors, suspended ceilings with recessed LED lighting, comfort cooling, 8 person lift, kitchen, ground floor reception and WCs on all floors. Access to the building is via an electric gate and on-site car parking is available approx. 1 space per 250 sq ft.
1st Fl-Ste 4
| Size | 1,755 sq ft |
| Space Use | Office |
| Fit-Out | Partial Fit-Out |
| Available | Now |
The property comprises an existing three storey office building which is currently being extended to provide CAT A offices available over two floors. The first floor will be available in suites that can be combined with the second floor capable of accommodating much larger requirements up to 15,000 sq. ft. The internal specification includes carpet tiling, raised access floors, suspended ceilings with recessed LED lighting, comfort cooling, 8 person lift, kitchen, ground floor reception and WCs on all floors. Access to the building is via an electric gate and on-site car parking is available approx. 1 space per 250 sq ft.
1st Fl-Ste 6
| Size | 1,012 sq ft |
| Space Use | Office |
| Fit-Out | Partial Fit-Out |
| Available | Now |
The property comprises an existing three storey office building which is currently being extended to provide CAT A offices available over two floors. The first floor will be available in suites that can be combined with the second floor capable of accommodating much larger requirements up to 15,000 sq. ft. The internal specification includes carpet tiling, raised access floors, suspended ceilings with recessed LED lighting, comfort cooling, 8 person lift, kitchen, ground floor reception and WCs on all floors. Access to the building is via an electric gate and on-site car parking is available approx. 1 space per 250 sq ft.
2nd Fl-Ste 14
| Size | 1,647 sq ft |
| Space Use | Office |
| Fit-Out | Partial Fit-Out |
| Available | Now |
The property comprises an existing three storey office building which is currently being extended to provide CAT A offices available over two floors. The first floor will be available in suites that can be combined with the second floor capable of accommodating much larger requirements up to 15,000 sq. ft. The internal specification includes carpet tiling, raised access floors, suspended ceilings with recessed LED lighting, comfort cooling, 8 person lift, kitchen, ground floor reception and WCs on all floors. Access to the building is via an electric gate and on-site car parking is available approx. 1 space per 250 sq ft.
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Regency House | 1 Miles Road
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