Edmund House, Rugby Road, Leamington Spa, CV32 6ELMake an enquiry
Franck-Steier Price have recently completed the acquisition of a single let office investment on behalf of Tewkesbury Borough Council, advised by LSH Investment Management.
The property is located on Rugby Road, adjacent the town centre and one of the town’s main arterial routes.
The property comprises a purpose built in 1992 office building arranged over ground and two upper floors. There are also 92 on site car spaces.
The property is let to Blythe Liggins LLP until April 2033 and extends to a total of 16,550 sq ft.The total passing rent is £226,016 per sq ft reflecting £13.65 per sq ft.
The property provided secure long dated income with future potential to drive rental growth at rent review or refurbish the property upon lease expiry. The property also offers a longer term potential residential conversion opportunity, being surrounded by residential and in the affluent locality of Leamington Spa.
The property was acquired for £3,610,000 which reflected an initial yield of 5.95%.
The property was sold by JLL who were acting for The Blythe Liggins Partnership SIPP.