Fully Refurbished City Centre Office With 14.5 Years Unbroken Income To A 5A1 Covenant
Winchester is an affluent city with excellent connections, making it a highly desirable place to both live and work.
Situated adjacent to the train station and less than a 5 minute walk from the city centre
Newly refurbished and extended Grade A office building at a cost of £6.4m (£219 psf).
The building is arranged over ground and three upper floors extending to
29,203 sq ft NIA
New 15-year contractual term from 29th January 2021 without breaks to
Lane Clark & Peacock LLP.
Passing rent of £805,056 (£27.73 psf) with 5 yearly open market rent
42 car parking spaces, reflecting an excellent city centre car parking
ratio of 1:695 sq ft. The tenant has access to a further 10 car parking
spaces at Winchester Station Car Park documented through a separate
We are instructed to seek offers in excess of £13,720,000 (Thirteen Million
Seven Hundred and Twenty Thousand Pounds) subject to contract and exclusive of VAT
This reflects an attractive net initial yield of 5.50%, assuming purchasers costs of 6.73%, and equates to a capital value of only £470 per sq ft.