South East multi-let office / business unit investment for sale
( Agency Pilot Software Ref: 228 )
Location
Horseshoe Business Park is located in Bricket Wood, 1 mile from junction 21a of the M25 and strategically located mid-way between Watford and St Albans, 19 miles north west of central London. Bricket Wood benefits from excellent transport links via Junction 21a of the M25 Motorway which in turn provides easy access to the national motorway network and both Heathrow and Luton Airports. Bricket Wood train station provides regular services to London, via Watford.
Accommodation
The property is occupied by over 20 companies and totals 10,572 sq. ft. A full tenancy schedule is available upon request
Terms
Tenure The property is held freehold.
Tenancies The property is let on multiple 12 month licence agreements, all contracted outside the security of tenure provisions of the Landlord and Tenant act. The building is fully let and produces a net rental income of £263,081.00 per annum, equating to £24.88 psf. The rent can be reviewed annually and has been steadily increasing. A rent deposit is held from each tenant.
VAT It is understood the property is not elected for VAT.
Proposal Offers invited in excess of £3,100,000 (three million, one hundred thousand pounds), subject to contract, reflecting a yield of 7.97% and purchase costsof 6.46%
Specification
• Detached
• 72 car parking spaces
• Air-Con units to each suite
• Entry phone to each suite
• Oil fired heating to each suite
• Refurbished communal WC’s and Kitchens