Description

Waterside Business Park totals 67,913 sq ft (6,309 sq m) of office accommodation across two buildings which includes 10 Waterside Park and Venture Court.

The self-contained buildings are arranged in two wings, with central service cores, over ground and first floors. The buildings were constructed in 2001 and is brick clad with full height glazing to the main entrance and windows at each floor level under a pitched, tiled roof.

The overall specification comprises:

Suspended ceiling with recessed lighting
Large open plan floor plates
Fully accessible raised floors
8-person passenger lifts
The terraces are arranged around a landscaped central courtyard which provides on-site car parking for 374
A generous car parking ratio of 1:183 sq ft

...

Attributes

Building area net

6,309 m²

Occupancy

100%

WAULT

2.9 years

Asking price

NZ$11,491,000

Capital Value Psf

£73

Media

Investment Highlights

Two buildings measuring a total of 67,913 sq ft (6,309 sq m)
63% of income is secured to the undoubted covenant of the UK Government
Let to The Secretary of State for Levelling Up, Housing and Communities
JCP Solicitors Limited and Bauer Radio Limited both have a Dun & Bradstreet rating of 2A1. The best possible rating for their respective turnover levels.
Held on two long leaseholds ending 2126.
The Secretary of State for Levelling Up, Housing and Communities are hoping to expand their Swansea operations. They currently have 400 people based from the building.
Value add opportunity to negotiate longer lease terms with existing tenants.
Located on Swansea Enterprise Park, 3 miles north east of Swansea City Centre.
WAULT to expiry of 2.9 years and a WAULT to break of 2.6 years
Passing rent of £641,026 per annum (£10.09 per sq ft).

We are instructed to seek offers in excess of £5,000,000 which reflects an attractive Net Initial Yield of 11.94% after purchaser's costs of 7.36%. This equates to a low capital value of £73 per sq ft.

Subject to Contract and Exclusive of VAT.