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High Yielding Investment, 31 Turnpike Road, Newbury, RG14 2NX
115,537 Sq Ft / Offices
Withdrawn - Last updated: 03 January 2024
- Newbury is a prosperous Thames Valley town.
- Situated in a prominent position on the Turnpike Road close to the town centre, and allowing easy access to the M4 motorway.
- A substantial facility comprising of offices, production and storage accommodation totalling 115,537 sq ft.
- The property sits on well configured site of 6.37 acres, in a predominantly residential area, providing a low site density of just 40%.
- Freehold.
- Let to Quantel Limited on an FRI lease until 30 September 2020 with approximately 5.9 years unexpired at a rent of £865,000 per annum (£7.49 psf).
- Quantel Limited has an excellent Credit Safe rating of 80 of out 100, which represents a very low risk of business failure.
- This has been Quantel’s headquarters for over 40 years, and they have heavily invested in a significant refurbishment of the property in the last 12 months.
- Opportunities to re-gear with the tenant.
- Offers sought in excess of £6,250,000 (Six Million Two Hundred and Fifty Thousand Pounds), which represents a very attractive net initial yield of 13.08% based on purchasers costs of 5.8%.
- Potential for significant redevelopment of the site for residential or other uses subject to planning.
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