Unit 3 St. Kenelm Court, Steelpark Road, Halesowen, West Midlands, B62 8HD
- SIZE
Ask agent
- SECTOR
Office for sale
Key features
- Income producing investment opportunity
- Let to long term tenant at passing rent of £16,500 per annum
- Freehold, offers over £235,000 equating to a net initial yield of 6.85% (after costs)
Description
Offers in excess of £235,000 are sought for the Freehold interest . A purchase at this level reflects a net initial yield of 6.85%, after standard purchasers costs of 2.52%.
Freehold office investment opportunity
St Kenelm Court is a 2006 built office development of four self contained office units arranged in an L" shaped terrace. The property comprises a modern, two storey office building, of which the ground floor has been sold off on a 999 year lease. The offices have solid floor construction, perimeter trunking and have suspended ceilings and recessed lighting. The building has a gas fired heating system with radiators throughout. There are 6 on site car parking spaces allocated to 3 St Kenelm Court.
Accommodation
As below:
Location
St Kenelm Court is part of the wider Coombswood Business Park which lies just to the north of the town centre. Coombswood is a 40 acre business park developed by St Modwen and comprises distribution, manufacturing and office accommodation. It is divided by the Dudley No 2 Canal to form Coombswood East (approx. 25 acres) and Coombswood West (approx. 15 acres). The property is situated on Coombswood West and is accessed from Steelpark Road which links directly onto the A4099.
Tenancy
The first floor is let to Sure Maintenance Ltd (who have been in occupation since 2006 years) on a renewed lease from 16/10/2019 to 15/10/2025 at a passing rent of £16,500 per annum.
The ground floor has been sold off on a long lease for a term of 999 years from 2020, at a peppercorn rent.
Tenant Profile
Sure Maintenance Ltd are a national gas, mechanical, electrical and property maintenance contractor. Established over 45 years ago they provide maintenance services to over 160,000 homes and businesses across the UK. Sure Maintenance have regional offices in Manchester, London, Halesowen.
VAT
The property has been elected for VAT, however, it is intended that the property will be sold as a TOGC.
EPC
The property has an EPC rating of C.
Legal Costs
Each party is to be responsible for their own legal costs that may be incurred in this transaction.
Anti Money Laundering
In accordance with Anti-money laundering regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.
Brochures
Unit 3 St. Kenelm Court, Steelpark Road, Halesowen, West Midlands, B62 8HD
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Old Hill Station0.7 miles
- Rowley Regis Station1.1 miles
- Cradley Heath Station1.9 miles
Notes
Disclaimer - Property reference 161910. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Bond Wolfe, Commercial Sales. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
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