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Eagle Tower Montpellier Dr 107,904 sq ft 100% Let Office Property Cheltenham GL50 1TA £15,000,000 (£139.01/sq ft) 11.22% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Multi let town centre office building
- Historic permitted development consent for 144 residential apartments
- Accommodation arranged over 15 storeys and totalling 89,050 sq ft
- Recently refurbished office accommodation with suites ranging from 150 sq ft to 7,000 sq ft
EXECUTIVE SUMMARY
Offers sought in excess of £15,000,000 (Fifteen Million Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects a net initial yield of 11.22% and a capital value of £168 per sq ft assuming purchasers costs of 6.73%.
Currently producing a gross income of £2,495,635 per annum equating to a net income of £1,796,015 per annum with further opportunity to increase the lease and licence revenue currently being achieved.
A purchase at this level reflects a net initial yield of 11.22% and a capital value of £168 per sq ft assuming purchasers costs of 6.73%.
Currently producing a gross income of £2,495,635 per annum equating to a net income of £1,796,015 per annum with further opportunity to increase the lease and licence revenue currently being achieved.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Property Size
107,904 sq ft
Costar Property Class
B
Year Built
1969
Price
£15,000,000
Price per sq ft
£139.01
Yield
11.22%
NOI
£1,683,000
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
16
Typical Floor Size
7,000 sq ft
Plot ratio
0.67
Total Plot Size
3.71 ac
AMENITIES
- 24 Hour Access
- Controlled Access
- Concierge
- Conferencing Facility
- Property Manager on Site
- Restaurant
- Security System
- Kitchen
- Bicycle Storage
- DDA Compliant
- Demised WC facilities
- Lift Access
- Natural Light
- Food Service
- Partitioned Offices
- Reception
- Suspended Ceilings
- Wi-Fi
- Air Conditioning
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Eagle Tower | Montpellier Dr
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