Project Carol, Solent Business Park, Fareham, PO15 7AF

Summary

Freehold Office Investment Opportunity - Six Detached Offices

Location

Solen Business Park is the South Coasts principal business park. It is located equidistant between Southampton and Portsmouth, some 10 miles to the north westandsouth east respectively. TheParklies adjacent to Junction 9 of theM27 motorway, approximately 80 miles south west of London and 20 miles southeastof Winchester.

Investment Summary

• Strategic location between Southampton and Portsmouth benefiting from easy access to the M27 and M3.
• 6 detached offices on Solent Business Park.
• The office buildings total 57,778 sq ft of high quality accommodation in a landscaped setting.
• Multi-let to tenants including British Telecommunications PLC, Shoosmiths Services Ltd, Matchtech Group (UK) Ltd and CFBT Education Trust.
• Matchtech (30% of income) have recently signed a 10 year lease and are spending in excess of £1.3m on their building.
• Numerous asset management opportunities, including letting up the vacant space and regearing leases with existing tenants.
• Net income of £834,917.50 per annum (£14.45 psf).
• Average weighted unexpired lease term of 4.18 years to lease expiries and 2.37 years to breaks.
• Offers are sought in excess of £8,500,000 (Eight Million, Five Hundred Thousand Pounds) for the freehold interests, reflecting a net initial yield of 9.21% assuming purchaser’s costs of 6.68% and a low capital value of £147 psf.