PROPERTIES

St Paul’s House, Winchester SO22 5AB

Price£13,720,000

PDF DETAILS

St Paul’s House, Winchester SO22 5AB

  • Price£13,720,000
  • Income£805,056
  • Yield5.50%
  • SectorOffice
  • StatusAvailable
PDF DETAILS

Fully Refurbished City Centre Office With 14.5 Years Unbroken Income To A 5A1 Covenant

Summary

  • 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 reviews.
  • Freehold.
  • 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 lease.
  • 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.