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Building 4 Forge Ln 17,560 sq ft Office Property Stoke On Trent ST1 5RQ £1,750,000 (£99.66/sq ft) 12.13% Net Initial Yield
Investment Highlights
- Detached modern office building
- Prominent business park position
- Large 1.16 acre site
Executive Summary
The entire property is let to DPDGroup UK Ltd on a 15 year lease expiring 31.01.2032. The current passing rent is £225,500 reflecting a low £12.56 psf. There is a tenant’s break option in January 2028 on 6 months notice. If the tenant doesn’t operate the break they benefit from one year at half rent. The tenant has been in occupation at Festival Park for over 20 years and took full occupation of the building in 2017. They have a logistics hub directly opposite.
The property is held Long Leasehold for a term expiring November 2157 (131 years unexpired) from November 2007 at a ground rent of a peppercorn. The Landlord is Stokeon-Trent Regeneration Limited.
The property is held Long Leasehold for a term expiring November 2157 (131 years unexpired) from November 2007 at a ground rent of a peppercorn. The Landlord is Stokeon-Trent Regeneration Limited.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Size
17,560 sq ft
Costar Property Class
B
Year Built
2007
Price
£1,750,000
Price per sq ft
£99.66
Yield
12.13%
NOI
£212,275
Tenancy
Single
Number of Floors
2
Typical Floor Size
8,780 sq ft
Plot ratio
0.40
Total Plot Size
1.00 ac
Parking
37 Spaces (2.11 Spaces per 1,000 sq ft Leased)
Amenities
- Air Conditioning
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Building 4 | Forge Ln
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