4 Barton Close, Grove Park, Leicester, LE19 1SJ
Franck-Steier Price has recently completed the sale of a modern business park office and laboratory investment on the established Grove Park Business Park in Leicester.
The property comprises a modern semi-detached two storey office building totalling 10,772 sq.ft in a landscaped environment with self contained car park. The ground floor space is used as a laboratory with first floor providing well specified offices.
The building is let to Opsec Security Limited for a term of 15 years from 28 November 2012. The current passing rent is £133,680 per annum and the rent at review is calculated on an open market basis subject to a discount of 16.66% taking into account the ground floor specification.
The passing rent is £133,680 per annum.
The purchase price of £2,060,000 reflects a net initial yield of 6.11%, assuming purchaser’s costs of 6.31%.
The purchaser was Hammond Grange was represented by Andrew & Ashwell.