Acorn House, Bridgwater Road, Worcester_Property for Sale

Acorn House, Worcester, Worcestershire, WR4 9FP, UK

Acorn House, Bridgwater Road, Worcester

Asset description

Worcester has a population of circa 104,000 and is strategically located alongside the M5 motorway, between Bristol and Birmingham
Situated in the prime office location in Worcester, Apex Park, with ready access to J6 of the M5 Motorway, and alongside major occupiers including Premier Inn, Beefeater, Southco Manufacturing, Worcester Bosch, Sainsburys Distribution, Worcester County Council, British Red Cross, Booker and Royal Mail Office accommodation is arranged over ground and first floor and extends to a total of 16,174 sq ft (1,502.60 sq m)
Fully refurbished to Cat A at an estimated cost of circa £1m in the last few years, to provide an excellent specification, including a new entrance canopy, new VRF air conditioning, new ceilings and LED lighting
A very low site coverage of 16.77%. There are 66 car parking spaces for customer and staff parking. This provides a ratio of 1:243 sq ft
Let to two excellent covenants, Marsh Corporate Services Ltd and SpaMedica Ltd, producing £274,642 pa with a WAULT of 6.10 years to expiry and 3.64 years to break
Low base rents averaging only £17.25 psf

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Attributes

Building area gross

1,503 sm

Media

Investment highlights

We are instructed to seek offers in excess of £2,800,000 reflecting an attractive net initial yield of 9.22% , assuming standard purchaser’s costs of 6.80%.

This price reflects a low capital value of only £173.12 psf.