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Buildings 1 & 3 Etruria Office Village,
Festival Park, Stoke-on-Trent
– An opportunity to acquire two modern out of town office buildings.
– Located on Festival Pa rk – Stoke on Trent’s premier mixed use Business and Retail Pa rk with occupiers including Bet365, Royal Mail, Vodafone, Handelsbanken and Wa rdell Armstrong.
– Building 1 let to the undoubted covenant of The First Secretary Of State (The Probation Service).
– Building 3 let to The Secretary Of State For Communities And Local Government (The Crown Prosecution
Service) and Thompsons Solicitors LLP. First floor vacant and subject to vendors rent guarantee.
– Total floor area of 30,643 sq. ft. including 120 car parking spaces (ratio of 1:255 sq. ft.).
– Total annual rent of £378,933 per annum (including vendors rent guarantee).
– AWULT to breaks of 3.23 years and to lease expiry of 4.34 years.
– Long leasehold at a peppercorn rent.
– Seeking offers in excess of £3,650,000 (Three Million, Six Hundred and Fifty Thousand Pounds) subject to
contract for our clients long leasehold interest. A purchase at this level reflects a net initial yield of 9.75%
allowing for purchasers costs of 6.51%.
The properties comprise two modern detached office buildings constructed in 2006 by St Modwen Developments.
The general specification for both buildings includes:
• Steel frame construction
• Brick elevations and profile clad roofs
• Double glazed aluminium windows
• Passenger lifts and toilets on each floor
• Perimeter trunking and suspended ceilings with recessed lighting
• Comfort cooling (Building 3)
• DDA compliant
Building 1 is a two storey building with two service cores incorporating two passenger lifts. The building has 59 car parking spaces to the front providing a ratio of 1:261 sq. ft.
Building 3 is arranged over 3 floors with a single service core incorporating the passenger lift and toilets. The building has provision for 61 car parking spaces providing a ratio of 1:250 sq. ft.
Buildings 1 & 3 Etruria Office Village, Festival Park, Stoke-on-Trent