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

Location

St Asaph Business Park is situated in a central location and widely regarded as the premier business park in North Wales.
The business park is home to a number of major occupiers including the Qioptiq, Welsh Ambulance Service NHS Trust, TRB, North Wales Police, RNLI and Betsi Cadwaladr University Health Board.
The park is well served by road communications and has the benefit of direct access to Junction 26 of the A55 Expressway (Euro Route 22). The A55 provides a link to Wrexham, Chester and national motorway network (M56 & M53) to the east and direcct access to the port of Holyhead in the west and ferry services to the Republic of Ireland.