Bowen Court

Overview

FOR SALE - BOWEN COURT, ST ASAPH BUSINESS PARK, LL17 0JE

MULTI LET OFFICE PARK. INVESTMENT OPPORTUNITY.

30,141 sq ft across 3 buildings
99% occupied (200 sq ft vacant)
A strong mix of 36 Tenants, many longstanding
A modern, multi let office park
Majority of units refurbished in last 4 years
Current passing rent c £290,000 pa
ERV = £336,000 pa
Sale due to retirement of current owner
Originally built by Gladman Developments

St Asaph Business Park is situated in a central location along the north Wales A55 and is widely regarded as the premier business park in North Wales. This modern high quality office development comprises a range of terraced and semi-detached offices.

30,141 sq ft across buildings 2, 4 & 6.

Buildings 3, 5 and 7 are let on long leases to expire prior to Head Lease.

Building 1 excluded from sale

Held by way of long lease to 2253

Quoting price = £2,695,000

To be sold by way of TOGC

A Purchase at this level reflects a Net Initial Yield of 10.2% (assuming standard purchasers costs of 5.7%) and a reversionary yield of 11.5%.

A low capital value of £89.41 psf.

All enquiries to Legat Owen 01244 408 200

Features

• Modern, multi let office park
• Current passing rent = £289,479.14 per annum
• ERV = £335,951 per annum
• Dedicated on-site parking
• Many units have been refurbished in the last few years
• Economic electric heating
• A strong mix of 36 tenants, many longstanding