- No Commission
One Warwick Technology ParkFavourite
Warwick Technology Park
Gallows Hill CV34 6DW Warwick
49,157.00 ft² (4,566.83 m²)
Price on application
• Warwick Technology Park is an established and prime out of town office park in the M40 / M42 corridor.
• Strategic location near Junctions 13, 14 and 15 of the M40 Motorway.
• One Warwick Technology Park comprises a headquarters style office building, recently refurbished to Grade A standard.
• The property extends to 49,157 sq ft over three floors.
• Fully-let to three principal tenants; Accenture (UK) Ltd, Baker Hicks Ltd and Delphi Diesel Systems Ltd.
• The property currently produces a net rental income of £984,658.50 per annum (including additional car park rent), reflecting £18.14 per sq ft overall.
• Baker Hicks and Delphi Diesel Systems have both committed to new leases on refurbished accommodation, setting a new headline rental level in excess of £19.00 psf.
• Reversionary potential via the future refurbishment of Accenture's accommodation, which is yet to be refurbished and is currently let off £16.02 psf.
• Excellent covenant strength with all tenants offering D&B rated minimum risk covenants.
• Average weighted unexpired lease term of 8.75 years to expiry and 5.69 years to break, the property benefits from long term income security.
We are instructed to seek offers in excess of £13,175,000 (Thirteen Million One Hundred and Seventy Five Thousand Pounds) A purchase at this level reflects an attractive Net Initial Yield of 7.00%
A purchase at this level reflects an attractive Net Initial Yield of 7.00%