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Arden House Siskin Dr 24,548 sq ft Office Property Coventry CV3 4FJ £4,500,000 (£183.31/sq ft) 10.92% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Great location
- Car parking
- Good connectivity
EXECUTIVE SUMMARY
The investment benefits from over seven years unexpired term with an upwards only rent review in December 2027 in line with uncapped RPI, annually compounded.
To be sold Long Leasehold by way of a new underlease expiring February 2992.
Offers in excess of £4,500,000 (Four Million Five Hundred Thousand Pounds) reflecting a net initial yield of 10.92%, an estimated reversionary yield of 13.68% and a capital value of £183 per sq ft assuming standard purchasers’ costs of 6.57%.
To be sold Long Leasehold by way of a new underlease expiring February 2992.
Offers in excess of £4,500,000 (Four Million Five Hundred Thousand Pounds) reflecting a net initial yield of 10.92%, an estimated reversionary yield of 13.68% and a capital value of £183 per sq ft assuming standard purchasers’ costs of 6.57%.
PROPERTY FACTS Under Offer
Sale Type
Investment
Property Type
Office
Tenure
Long Leasehold
Property Size
24,548 sq ft
Costar Property Class
B
Year Built
1995
Price
£4,500,000
Price per sq ft
£183.31
Yield
10.92%
NOI
£491,400
Tenancy
Single
Number of Floors
2
Typical Floor Size
12,274 sq ft
Plot ratio
0.19
Total Plot Size
2.99 ac
Parking
127 Spaces (5.17 Spaces per 1,000 sq ft Leased)
MAJOR TENANTS
- TENANT
- INDUSTRY
- sq ft OCCUPIED
- RENT/sq ft
- LEASE END
- Arden University Limited
- Educational Services
- 24,548 sq ft
- £21.38
- Dec 2032
| TENANT | INDUSTRY | sq ft OCCUPIED | RENT/sq ft | LEASE END | ||
| Arden University Limited | Educational Services | 24,548 sq ft | £21.38 | Dec 2032 |
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Arden House | Siskin Dr
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