Fulwood Park, Caxton Road, Fulwood, Preston PR2 9NZ

10,567 Sq Ft
£1,520,000 Offers Over
  • Ref: S269
  • Type: Investment, Office Building
  • Availability: Available
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Property Features

  • Opportunity to acquire a multi let office building extending 10,567 sq.ft with on site car parking
  • 74% let to undoubted government covenants NHS & Highways England
  • Highways England have spent £180,000 and NHS £104,000 on the fit out of their offices.
  • Highways England recently chose not to exercise their 2021 tenant break option.
  • 12 Month's rent, rates & service charge guarantee on the only vacant suite.
  • Rent passing £129,263 Per Annum, reflecting a low rent of £12.23 psf.
  • Quoting offers in excess of £1,520,000 (One Million Five Hundred And Twenty Thousand Pounds) which reflects Net Initial Yield of 8.00% after full purchasers costs.

Property Summary

The property comprises an building of steel frame construction with external walls being a mixture of facing brick and curtain walling. The property has a hipped, pitched roof which is covered in concrete tiles.  The property has two floors with accommodation on both the ground and first floors. The accommodation is situated around a central atrium.  Externally, the property has its own car parking facilities.

Full Details

Location
The city of Preston is located in the county of Lancashire and acts as its administrative capital.
The city is connected to the rest of the country by the M6 (Junctions 31 and 32) and M55
(Junction 1), as well as the A583, A59 and A6 trunk roads, public transport links are via the city’s railway station, which is on the West Coast Mainline, and bus services both local and national operate from the city’s bus depot.

The property is located on Fulwood Park, the development forms part of Preston North Employment Area which is mixture of retail, office and industrial premises. The development can be accessed from Eastway, part of the B6241, via the roundabout junction with Oliver's Place.

Tenure
The property is Freehold.

VAT
The property has been elected from VAT.