Derby – High Yielding Secure-Let Office Investment Opportunity
Norman House, Friar Gate, Derby, DE1 1NU
Offers in excess of £1,700,000
- Property Types:
- Commercial, Mixed, Residential
- Sub Types:
- Office, Multiple Flats
- Net Initial Yield:
£185,317 per annum
- Four-Storey mixed use building with commercial accommodation on the ground and residential above.
- Located within easy reach of Derby City Centre.
- Providing 16,768 sq ft of high quality, modern office and showroom accommodation.
- Producing a net income of £185,317 per annum.
- Freehold and part Leasehold.
- 91% of the income let to Experian Very Low Risk covenants.
- Average Unexpired Term of 10.72 years to expiry (6.19 to break).
- The flats are sold off on long leasehold basis.
- 48 secure car parking spaces.
- Smith Partnership (82% of income) have had its headquarters within the wider Heritage Gate complex for almost two decades.
- Offers sought in excess of £1,700,000 subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 10.27% assuming purchaser’s costs of 6.21%.