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27-31 Northgate 5,055 sq ft Office Property Sleaford NG34 7BW £250,000 (£49.46/sq ft) 8.80% Net Initial Yield

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INVESTMENT HIGHLIGHTS

  • Grade II listed office building
  • EPC Rating - D (77)
  • Prominent frontage onto Northgate

EXECUTIVE SUMMARY

The freehold of the Property is for sale by private treaty subject to the existing lease that is in place. The Property is currently tenanted and occupied by Sills & Betteridge LLP until 30th September 2025 at an annual rent of £22,000 Per Annum. We understand it is the tenants’ ambitions to relocate and an early surrender could be considered as early as Q2 2024. A copy of the lease can be made available to any interested parties.

ATTACHMENTS

10360499

PROPERTY FACTS

Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Size
5,055 sq ft
Costar Property Class
B
Year Built
1800
Price
£250,000
Price per sq ft
£49.46
Yield
8.80%
NOI
£22,000
Tenancy
Single
Number of Floors
2
Typical Floor Size
2,528 sq ft
Plot ratio
0.96
Total Plot Size
0.12 ac

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • USE
  • CONDITION
  • AVAILABLE
  • Ground
  • 2,528 sq ft
  • Office
  • Full Fit-Out
  • Now

The accommodation is arranged over two storeys and offers a range of open plan and cellular offices. The building has been occupied by a solicitors for a number of years and offers a unique opportunity for the building to continue in this use or be re-purposed for alternative uses subject to the statutory consents being obtained.

  • 1st Floor
  • 2,527 sq ft
  • Office
  • Full Fit-Out
  • Now

The accommodation is arranged over two storeys and offers a range of open plan and cellular offices. The building has been occupied by a solicitors for a number of years and offers a unique opportunity for the building to continue in this use or be re-purposed for alternative uses subject to the statutory consents being obtained.

Space Size Space Use Condition Available
Ground 2,528 sq ft Office Full Fit-Out Now
1st Floor 2,527 sq ft Office Full Fit-Out Now

Ground

Size
2,528 sq ft
Space Use
Office
Condition
Full Fit-Out
Available
Now

1st Floor

Size
2,527 sq ft
Space Use
Office
Condition
Full Fit-Out
Available
Now

Ground

Size 2,528 sq ft
Space Use Office
Condition Full Fit-Out
Available Now

The accommodation is arranged over two storeys and offers a range of open plan and cellular offices. The building has been occupied by a solicitors for a number of years and offers a unique opportunity for the building to continue in this use or be re-purposed for alternative uses subject to the statutory consents being obtained.

1st Floor

Size 2,527 sq ft
Space Use Office
Condition Full Fit-Out
Available Now

The accommodation is arranged over two storeys and offers a range of open plan and cellular offices. The building has been occupied by a solicitors for a number of years and offers a unique opportunity for the building to continue in this use or be re-purposed for alternative uses subject to the statutory consents being obtained.

  • Listing ID: 30416052

  • Date on Market: 21/12/2023

  • Last Updated:

  • Address: 27-31 Northgate, Sleaford NG34 7BW

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