Property overview

12 Southfield Road, Loughborough

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Apr 2010

Franck-Steier Price Ltd (FSP) have recently completed the acquisition of an office building let to the Probation Service. The property was purchased for a private client of the firm.

The property comprises a two storey modern office with 19 car spaces. The property was let to the Secretary of State for Communities and Local Government on a 25 year lease from 25 December 1995. There are 5 yearly open market reviews. The current rent passing is £49,760 per annum. (£11.50 per sqft).

The property was purchased for £712,000 which represents a net initial yield of 6.61%, assuming full costs of purchase of 5.75%. The vendor was a private trust who were advised by Mather Jamie.