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St Georges Tower St Georges St 15,574 sq ft 43% Let Office Property Isle Of Man IM1 1AQ £2,950,000 (£189.42/sq ft) 8.73% Net Initial Yield

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INVESTMENT HIGHLIGHTS

  • Good location
  • On site parking
  • Income generating
  • Top floor has access to a private roof terrace providing panoramic views over the surrounding countryside.

EXECUTIVE SUMMARY

An opportunity has arisen to purchase this freehold prime office building occupying a prominent position in the main financial and office area in Douglas. Current rent of £48,243 per annum with an additional potential rent of £209,306 per annum following the leasing of the vacant floors and 10 car parking spaces. Total passing and potential rent £257,549 per annum.

PROPERTY FACTS

Sale Type
Investment or Owner Occupier
Property Type
Office
Tenure
Freehold
Property Size
15,574 sq ft
Costar Property Class
B
Year Built
2010
Price
£2,950,000
Price per sq ft
£189.42
Yield
8.73%
NOI
£257,535
Occupancy Rate
43%
Tenancy
Multiple
Number of Floors
4
Typical Floor Size
3,894 sq ft

AMENITIES

  • Central Heating
  • Demised WC facilities
  • Lift Access
  • Reception
  • Suspended Ceilings
  • Air Conditioning
  • Raised Floor System

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • USE
  • CONDITION
  • AVAILABLE
  • 1st Floor
  • 3,334 sq ft
  • Office
  • Full Fit-Out
  • Now

3334 sf of office space available to let with immediate vacant possession on a fully repairing and insuring basis for a term to be agreed at £22 sf.

  • 2nd Floor
  • 3,243 sq ft
  • Office
  • Full Fit-Out
  • Now

3243 sf of office space available to let from May 2023 on a fully repairing and insuring basis for a term to be agreed at £22 sf.

  • 3rd Floor
  • 2,346 sq ft
  • Office
  • Full Fit-Out
  • Now

2346 sf of office space available to let from May 2023 on a fully repairing and insuring basis for a term to be agreed at £22.50sf.

Space Size Space Use Condition Available
1st Floor 3,334 sq ft Office Full Fit-Out Now
2nd Floor 3,243 sq ft Office Full Fit-Out Now
3rd Floor 2,346 sq ft Office Full Fit-Out Now

1st Floor

Size
3,334 sq ft
Space Use
Office
Condition
Full Fit-Out
Available
Now

2nd Floor

Size
3,243 sq ft
Space Use
Office
Condition
Full Fit-Out
Available
Now

3rd Floor

Size
2,346 sq ft
Space Use
Office
Condition
Full Fit-Out
Available
Now

1st Floor

Size 3,334 sq ft
Space Use Office
Condition Full Fit-Out
Available Now

3334 sf of office space available to let with immediate vacant possession on a fully repairing and insuring basis for a term to be agreed at £22 sf.

2nd Floor

Size 3,243 sq ft
Space Use Office
Condition Full Fit-Out
Available Now

3243 sf of office space available to let from May 2023 on a fully repairing and insuring basis for a term to be agreed at £22 sf.

3rd Floor

Size 2,346 sq ft
Space Use Office
Condition Full Fit-Out
Available Now

2346 sf of office space available to let from May 2023 on a fully repairing and insuring basis for a term to be agreed at £22.50sf.

  • Listing ID: 29287907

  • Date on Market: 16/08/2023

  • Last Updated:

  • Address: St Georges St, Isle Of Man IM1 1AQ

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