Investment – Nene House: Northampton

Project Value: £2.7m
Yield: 6.41%

Instructed to sell a three-storey Northampton office building on behalf of an undisclosed client, Harris Lamb’s Investment team secured a sale in excess of the asking price for this commercial site.

Located on Rushmills, the 12,314sq ft building, Nene House, was let to law firm Howes Percival with 14 years remaining on a 15-year lease, making it a particularly lucrative opportunity and attracting high levels of interest.

At the time of sale, the property produced a rental income of £179,720 a year, rising to £182,785 within the year. Five-yearly review terms had been agreed with the option of a break at the end of the 10th year, assuring the successful buyer a long-term, secure income from an established source.

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