East Midlands Airport, Building 2B, Castle Donington, Derby DE74 2SA

Investment Consideration:
Gross Initial Yield: 5.60%
Rental Income: £28,000* p.a.
VAT is applicable to this property. TOGC available.
*The annual rental income comprises 10% of the Tenant`s Gross Revenue in each year
Comprises two storey detached office building of steel frame construction
Property benefits from 70 on-site parking spaces at the front
Strategically located with access directly from the M1 motorway and within close proximity of the A42 and A50 Dual Carriageways.

Property Description:
The property comprises a detached two storey office building being of a steel frame construction with insulated blockwork infill walls and decorative brick facing under a hipped roof and incorporating powder coated aluminium framed double glazed sealed window units and entrance. The property is arranged over ground and first floors and is configured to provide predominantly open plan office accommodation on either side of the service core. There is a reception area with 8-person (630kg) lift to the first floor which incorporates a small administrative office, male/female and disabled WCs. In addition, a comms room is located on the ground floor together with a series of cellular offices. The property provides the following accommodation and dimensions:
Ground Floor Offices: 942.5 sq m (10,145 sq ft)
First Floor Offices: 942.5 sq m (10,145 sq ft)
Total GIA: 1,885 sq m (20,289 sq ft)
Site Area: 4,046 sq m (43,560 sq ft)

Tenancy:
The property is at present let to Dortgen UK Limited for a term of 150 years from 5th April 2001 at a current rent of £28,000*p.a. and the lease contains full repairing and insuring covenants.
*Rent review every year geared to 10% of the Gross Revenue in each year. The rent payable each year comprises the Basic Rent of £400 plus the Additional Rent which comprises 10% of Gross Revenue in each Year, less the Basic Rent for that Year. The Gross Revenue for the year 05/04/2024 to 04/04/2025 was £280,000.
Currently let until Sept 2026 at current rent of £280,000 p.a.

Tenure:
Long Leasehold. Held for a term of 270 Years from 31st March 2018 at a ground rent of peppercorn.

Location:
East Midlands Airport is located in Castle Donington adjacent to Junction 23A of the M1 Motorway. The airport is situated between Loughborough, Derby and Nottingham; Leicester is 20 miles to the south and Lincoln 43 miles northeast. The site benefits from close proximity to the Airport terminal building and is situated within the maintenance area. East Midlands Airport is owned by Manchester Airports Group (MAG) and is the operating base for TUI, JET 2 and Ryanair