Emperor House, Grenadier Road, Exeter Business Park, Exeter_Property for Sale

Grenadier Road, Exeter, DEVON, EX1 3LH, UK

Emperor House, Grenadier Road, Exeter Business Park, Exeter

Asset description

Constructed in 2017, Emperor House comprises a Grade A office headquarters building totalling 22,660 sq ft, with a surface car park providing 80 spaces (including 4 disabled).

High specification Grade A office building including:

VRV comfort cooling (heat recovery)
Fully accessible raised floors
2 x 8-person passenger lifts
Divisible floor layout
Photovoltaic roof panels
Suspended ceilings with high frequency lighting
Showering facilities

...

Attributes

Asking Price

¥871,255,000

Building area Net

2,101 sm

Occupancy

100.00%

Year built

2017

Media

Investment highlights

Emperor House is situated in a prominent position on Exeter’s Premier Business Park fronting junction 29 of the M5 motorway
Strategic location with easy access to Exeter city centre
Exeter out of town office market has attracted many high profile occupiers including the Met Office, EDF and Royal Mail
High specification Grade A office building with VRV comfort cooling, double glazing and solar panels
Total area of 22,660 sq ft (2,105.18 sq m)
Let to 5A1 covenant Liverpool Victoria Friendly Society Ltd Plc with 9.37 years remaining to expiry and 4.37 years to break
Total income of £432,525 per annum which equates to £19.08 per sq ft

Seeking offers in the region of £5,000,000 (FIVE MILLION POUNDS) for the Freehold Interest subject to contract, reflecting a Net Initial Yield of 8.11%, assuming purchasers’ costs of 6.59%. A purchase at this level reflects a low Capital Value of £217 per sq ft.

The property is held within an Special Purchase vehicle (SPV) which is also available to acquire.