For Sale

Speke – Prime Office Investment let to Bank of Scotland

Estuary House, The Estuary Commerce Park, Speke, Liverpool, L24 8DA

Offers in excess of £9,750,000

Property Type:
Commercial
Sub Type:
Office
Net Initial Yield:
8.00%

Income

£831,853 pa

Description

  • Liverpool is the 2nd largest city in the North West.
  • Estuary House is located in the well-established Estuary Commerce Park.
  • Total floor area of approximately 75,623 sqft NIA.
  • Let to the undoubted covenant of Bank of Scotland Plc who have been in occupation since 2004.
  • Mission critical facility for Lloyds, Halifax, RBS & other subsidiaries.
  • The tenant renewed their lease in September for a new 5 year term expiring 28th September 2026.
  • Passing rent of £831,853 per annum reflecting £11psf.
  • 505 car parking spaces with a ratio of 1:150 psf.
  • Virtual freehold.
  • Site area of approximately 6 acres.
  • Offers sought in excess of £9,750,000 subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 8.00% and a low capital value of £129 psf assuming standard purchaser’s costs of 6.70%.