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One Warwick Technology Park

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Warwick Technology Park
Gallows Hill CV34 6DW Warwick
Ref: 12140

  • 49,157.00 ft² (4,566.83 m²)
  • Price on application

Description

Description

• Newly Refurbished Multi-Let Office Investment

Investment Summary

• 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.

• Freehold.

Proposal

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%

Energy Rating

Energy Rating

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Contact

Contact
Allan Wilson
Ben Kelly
Nick Wood
  Details

JLL for themselves and for the vendors or lessors of this property whose agents they are, give notice that:

  1. The particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract;
  2. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are believed to be correct, but any intending purchasers, tenants or third parties should not rely on them as statements or representations of fact but satisfy themselves that they are correct by inspection or otherwise;
  3. No person in the employment of JLL has any authority to make or give any representation or warranty whatever in relation to the property;
  4. Any images may be computer generated. Any photographs show only certain parts of the property as they appeared at the time they were taken.

For properties in Scotland:

  1. This correspondence is expressly subject to completion of formal legal missives in accordance with Scots Law.

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