The Property This is a modern office building of 748 sq m/8,000 sqft originally let to Prudential and now assigned to The Stationery Office. The building is aesthetically very attractive and well specified with air conditioning and full access raised floors.
Royal and Sun Alliance decided to sell and although our offer was not quite the highest, although almost, we were chosen because we demonstrated a track record of very thorough due diligence prior to making our offer and exchange of contracts within short previously agreed time frames.
The rent was only £160 per sqm/£15 per sqft when we bought and was reviewed in 2002 to £225 per sqm/£21 per sqft. The Stationery Office lease expires in 2007 and we are currently considering the available options. As at Autumn 2006, we are in negotiation with two local occupiers, one a Government service, already located in the town and both needing bigger and better buildings.
Why Buy? A first rate very well specified modern office building in the best office pitch in a popular town with access to the M25. Good prospects for growth.
Navigator Securities
15 Bruton Place
London W1J 6LU
Ivor A French FRICS
T 020 7529 5544
M 078 9999 1111
Email Ivor
David Coleman MRICS
T 020 7529 5540
M 07956 966 677
Email David