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Worthing – Freehold Lab/Office Investment Let to a committed Blue Chip covenant for a further 10.76 years

Eurotherm Unit, Faraday Close, Worthing, West Sussex, BN13 3PL

Offers in excess of £4,240,000

Property Type:
Commercial
Sub Type:
Office
Tenure:
Freehold
Net Initial Yield:
7.75%

Description

  • 4,757 sq m (51,205 sq ft) industrial-office building located close to the A27 in Worthing, West Sussex
  • Freehold
  • Let to Eurotherm Ltd with a guarantee from Invensys Ltd (5A1) on a 30 year FRI lease from 7th February 2002. Schneider Electric (5A1) is the holding company of Invensys and Eurotherm Ltd
  • Low passing rent of £350,000 per annum (£6.85 psf)
  • Tenant has recently moved their 2022 break option to 2027
  • The tenant is undertaking a multi million pound refurbishment program illustrating commitment to the property
  • AWULT of 10.76 years to expiry and 5.72 years to break
  • Site area approximately of 3.9 acres providing a low site cover of 31%
  • Excellent alternative use potential (STP)