Mark as favourite
28-29 Central Park Avenue
PL4 6DE Plymouth
Size53,652 ft² / 4,984 m² (approx. 500 desks)
- Location and Transport
High Yielding Reversionary Office Investment With Underlying Redevelopment Potential
- Excellent location adjacent to Plymouth Railway Station.
- Four storey building fronting Central Park Avenue totalling 53,652 sq ft.
- Fully let to strong covenant, University of Plymouth, with 7 years unexpired.
- Total rent of £336,066 per annum reflecting low base of £6.26 psf.
- Landlord early surrender option to redevelop part from 1 April 2020.
- Alternative use / redevelopment potential.
- 1954 Act security of tenure provisions excluded.
- Offers are sought in excess of £3,500,000 (Three Million Five Hundred Thousand Pounds) subject to contract.
- Net initial yield of 9.02%, after allowing for purchaser’s costs of 6.50%.
- Capital value of only £65 psf overall.