Cygnet Court, Timothy’s Bridge Road, Stratford upon Avon, CV37 9NW
Franck Steier Price has recently completed the sale of a multi-let office investment on Cygnet Court in Stratford upon Avon on behalf of Stratford upon Avon Commercial Development Partnership.
The units were part of a larger business park scheme on the edge of town. Built in 2008 the sale comprised six self contained offices fully let to five tenants. The total accommodation extended to 11,781 sqft. The investment produced a total income of £133,852 per annum, with the rents averaging £11.36 per sqft. Leases expired between 2015 and 2018, there were rental increases due in August 2015 & 2016 on one lease.
The purchase price of £1,270,000 reflected a net initial yield of 9.96% after purchaser’s costs of 5.80% and a capital value of £107.60 per sqft.
The purchaser was a private investor client of eHB.