Sold
Milton Keynes – Freehold Office investment Let to the NHS
Sherwood Place, Sherwood Drive, Bletchley, Milton Keynes, MK3 6RT
Offers in the region of £3,500,000
- Property Type:
- Commercial
- Sub Type:
- Office
- Tenure:
- Freehold
- Net Initial Yield:
- 8.04%
Income
£299,722 pa
Description
- Milton Keynes is a major South East town set between Oxford to the south west and Cambridge to north east.
- Unrivalled location at the heart of the ‘UK Growth Corridor’, Milton Keynes is set to benefit from significantly upgraded East to West Railway.
- Situated in Bletchley approximately 4 miles south of Milton Keynes and within a 5 minute walk from Bletchley Station.
- Site area: 0.811 acres (0.328 hectares).
- Prominent self-contained building extending to 14,357 sq ft built in the 1980’s and comprehensively refurbished in 2009.
- Entirely let to the NHS Property Services Ltd at a current rent of £299,722 p.a. until 16th April 2024 subject to uncapped annual RPI uplifts (no cap or collar).
- Excellent car parking provision with 63 car parking spaces reflecting a car parking ratio of 1:228 sq ft.
- Possible refurbishment or redevelopment for residential at lease expiry, subject to obtaining the necessary consents.
- Freehold.
- Offers are sought in the region of £3,500,000 subject to contract and exclusive of VAT. A purchase at this level reflects an attractive net initial yield of 8.04% after allowing for standard purchaser’s costs.