Building 1 & 3 Etruria Office Village Festival Park
Building 1 & 3 Etruria Office Village, Festival Park, Stoke On Trent, Staffordshire, ST1 5RQ
An opportunity to acquire two fully let modern office buildings
Located on Festival Park – Stoke on Trent’s premier mixed use Business and Retail Park with occupiers including Bet365, Royal Mail, Vodafone, Handelsbanken, DPD, West Midlands Ambulance Service and Wardell Armstrong
Building 1 let on a new 10 year lease to the undoubted covenant of The First Secretary Of State For Communities and Local (The Probation Service)
Building 3 let to The Secretary Of State For Communities And Local Government (The Crown Prosecution Service), Thompsons Solicitors LLP and GVA Acuity
Total floor area of 30,643 sq. ft. including 120 car parking spaces (ratio of 1:255 sqft)
Total annual rent of £384,138 per annum (including vendors rent top up).
66% income from Secretary Of State
WAULT to lease expiry 7.25 years, to breaks 6.15 years
Capital value £146 per sqft
Building 1 provides 10 year secure income. Building 3 gives future asset management opportunities
Long leasehold at a peppercorn rent
Seeking offers in excess of £4,500,000 (Four Million, Five Hundred Thousand Pounds) subject to contract for our clients long leasehold interest.
A purchase at this level reflects a net initial yield of 8.0% allowing for purchasers costs of 6.57%