Durr Headquarters, Broxell Close, Warwick_Property for Sale

Broxell Close Wedgnock Industrial Estate, Warwick, CV34 5QF, UK

Durr Headquarters, Broxell Close, Warwick

Asset Description

Freehold office building with strong underlying development potential
The property benefits from excellent connectivity, strategically positioned on Wedgnock Industrial Estate, within the affluent town of Warwick and positioned adjacent to the A46 providing direct access to Junction 15 of the M40
Located on Broxell Close, with nearby occupiers including Volvo, Royal Mail, Telent Technology and a Shell Recharge Charging Station. There is a Premier Inn directly behind the property which incorporates a Costa Coffee facility and a LA Fitness gym a short distance away
29,763 sq ft office which has been the UK Headquarters for Durr Ltd since 2001, with excellent car parking of 110 spaces equating to a ratio of 1:271 sq ft
The buildings are capable of subdivision and floor by floor lettings
Let to the excellent covenant of Durr Ltd with Durr AG as guarantor) on a lease expiring 5 March 2027, at a rent of £421,000 pa (£14.15 per sq ft)
Provides a high income return and over 2 years to plan refurbishment/reletting/redevelopment on expiry
Site extends to approximately 0.62 hectares (1.52 acres) and sits within an immediately predominant industrial area, providing redevelopment prospects to industrial use (subject to planning consent)

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Attributes

Building area gross

2,765 m²

Media

Investment Highlights

We are instructed to seek offers in excess of £2,825,000 reflecting an attractive net initial yield of 14.00% and a very low cost per sq ft of £95, assuming standard purchaser’s costs.