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Enterprise House Waterside S 59,497 sq ft Office Property Lincoln LN5 7JE £6,083,000 (£102.24/sq ft) 9.25% Net Initial Yield
Investment Highlights
- Enterprise House is 1 mile east of Lincoln city centre, within the Witham Park office cluster.
- The building underwent a £2.5M extensive refurbishment (including new floors, ceilings, AC and lighting) in 2018.
- Benefits from generous car parking (433 spaces) and sits on a site of 4.4 acres.
Executive Summary
We are instructed to quote £5,627,000 (Five Million Six Hundred and Twenty Seven Thousand Pounds) which reflects an attractive net initial yield of 10.0% after full purchaser’s costs.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Long Leasehold
Property Size
59,497 sq ft
Costar Property Class
C
Year Built
1996
Price
£6,083,000
Price per sq ft
£102.24
Yield
9.25%
NOI
£562,700
Tenancy
Single
Number of Floors
2
Typical Floor Size
29,749 sq ft
Plot ratio
0.78
Total Plot Size
1.75 ac
Parking
371 Spaces (6.24 Spaces per 1,000 sq ft Leased)
Amenities
- Security System
- Signage
- Wheelchair Accessible
- Kitchen
- Storage Space
- Central Heating
- Natural Light
- Open-Plan
- Partitioned Offices
- Secure Storage
- Air Conditioning
- Smoke Detector
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Enterprise House | Waterside S
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