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Commercial Properties For Sale in Stoke-On-Trent, Staffordshire

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Harris Lamb, Stoke-On-Trent Estate Agent Logo
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Bennett House, Town Road, Stoke On Trent, Staffordshire, ST1 2QB

Investment Summary: An opportunity to acquire a modern fully let office building. Prominently located within Hanley town centre, the commercial and administrative heart of Stoke-on-Trent. Strategically positioned approximately 6 miles from Junctions 15 and 16 of the M6 motorway, providing excellent connectivity across the Midlands and North West regions. 79% let to The Secretary of State for Housing, Communities and Local Government, who have occupied the building since 2002, offering secure income supported by strong public sector covenants. 21% let to the NHS, who have exercised their break option dated 31/03/2027. Comprises 44,786 sqft (4,161 sqm) arranged over three floors. Provides 167 on-site car parking spaces, equating to a parking ratio of 1:268 sqft. The property is held Freehold under title number SF475985. Produces a passing rent of £451,602 per annum, reflecting a low average rent of £10.08 per sqft inclusive of parking spaces. Headline ERV of £551,000 per annum. Provides a WAULT of 2.22 years to lease breaks. 100% of current income secured against UK Government-backed occupiers. Potential asset management opportunities through upcoming lease events and future rental growth. Proposal: We are instructed to seek offers in excess of £3,300,000, subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 12.85%, assuming standard purchaser's costs, and a low capital value of £74 per sqft. Net I

Harris Lamb, Stoke-On-Trent Estate Agent Logo
Commercial Property
  • Government let office investment
Marketed by Harris Lamb, Stoke-On-Trent
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