1 Barton Close, Grove Park, Leicester, LE19 1SJ
Franck-Steier Price has recently completed the sale of a modern business park office investment on the established Grove Park Business Park in Leicester.
The property comprises a modern semi-detached two storey office building totalling 6,657 sq.ft in a landscaped environment with a self contained car park.
The building is let to EMH Housing and Regeneration Limited for a term of 15 years with effect from 19th April 2013 at a passing rent of £101,115 per annum. There is a tenant only break option on expiry of the 10th year of the term.
The passing rent is £101,115 per annum (£15.19 per sq.ft)
The purchase price of £1,467,000 reflects a net initial yield of 6.50%, assuming purchaser’s costs of 6.11%.
The purchaser was Hammond Grange was represented by Andrew & Ashwell.