Futures Homescape Ltd, Asher Lane Business Park, Asher Lane, Ripley, DE5 3SW
Franck-Steier Price and Allsop have recently completed the sale of an office investment in Ripley on behalf of City Capital Investments Ltd.
The property is located on Asher Lane Business Park on the edge of Ripley town centre and comprises a two storey office building extending to 25,693 sq.ft.
The building is majority let to Futures Homescape Ltd on a lease expiring in November 2019 paying £228,400 per annum. 5,733 sq.ft of the first floor is vacant.
The property was sold for £1,410,000 which represents a net initial yield of 15.31%, assuming full costs of purchase of 5.8%.
The purchaser was a private investor.