REDUCED PRICE
Opportunity to purchase a fully let serviced office investment in the heart of Bromley at a net initial yield 13.1%.
The property is located within a former agricultural building, converted into a serviced office centre with a mezzanine floor.
The site measures 0.37 acres which includes the office building and the car park.
The existing building measures 6,358 sqft over ground and mezzanine floors and benefits from ample parking behind a private gate.
The property comprises 12 office suites along with a kitchen, toilets, storage room and a communal meeting room. There is a storage room at first floor level measuring approximately 500 sqft that could potentially be converted into another office.
The property is fully tenanted generating a gross income of £125,376 and the tenants also pay a service charge of £7,848 per annum. The landlords are responsible for utilities which is approximately £28,898.43 per annum and therefore the net income after bills (rates, gas, water, electricity, insurance) is £104,325.57 per annum.
The property has a hands off management structure with a virtual reception service at an additional cost to the tenants.
Unconditional offers with the tenants in situ will be considered and a full legal pack is available.