Property overview

2 Central Park, Lenton Lane, Nottingham, NG7 2NR

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£4,500,000
Oct 2021

Modern single let office investment on the fringe of Nottingham city centre totalling  31, 802 sq ft with 121 car spaces on site (1:262 sq ft).

 

Let to the undoubted covenant of Siemens plc on a 10 year lease from 11th September 2017, the Year 5 break option has recently been removed, showing long term commitment from the tenant to the property.

 

The property comprises a detached business park style office on a self-contained site.  The building is arranged predominantly over ground and first floors with a small additional second floor.

 

The building underwent a wholesale £2,500,000 refurbishment programme during 2017 as part of the letting to Siemens.  The property was retro fitted to a full Cat A standard ahead of the tenant’s under lying works. More recently EV charging points have been installed in the car park.

 

Annual rental income of £405,000 per annum (only £12.74 per sqft).

 

Offers sought in excess of £4,500,000 which provides an initial yield of 8.45%, allowing for purchaser’s costs of 6.57%. This price reflects a low capital value of only £141 per sqft.

 

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St Pauls Office Investments Retail & Retail Warehousing investments