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Middlesex House, Middlesex House, Rutherford Close, Stevenage, SG1 2EF

£2,200,000

£187.27 per sq ft

Business rates & charges may apply

John D Wood, Mayfair
SIZE AVAILABLE

11,748 sq ft

1,091 sq m

SECTOR

Office for sale

Key features

  • Modern office block arranged over ground and first floor
  • Let to four separate tenants benefiting from a WAULT of Circa 4 years to expiry
  • Total space 11,748 sq ft (1,091.4 sq m)
  • Strong access to transport A1(M)
  • VAT applicable
  • Completion available in 6 weeks
  • Capital values of £187.27 psf
  • Available for £2.2m, reflecting a New Yield of 7.85%

Description

Middlesex House is a modern detached office building prominently positioned on Rutherford Close within the established commercial area of Stevenage. The property provides well-configured office accommodation arranged over ground and first floors, extending to approximately 11,748 sq ft (1,091.4 sq m), and is currently divided into four self-contained office suites.

The building is multi-let to four separate occupiers, offering a diversified and sustainable income stream with a weighted average unexpired lease term of circa 4.5 years to expiry. The configuration of the accommodation provides flexibility for continued multi-let investment use, with potential future asset management opportunities.

The property further benefits from on-site parking and represents an attractive freehold office investment in a well-established and strategically connected commercial location.

Stevenage is a town situated in Hertfordshire, approximately 30 miles north of central London. It serves as a key hub in the region, well-connected by road and rail, making it easily accessible for commuters and visitors alike Easy access to junctions 7 and 8 of the A1(M). The A1(M) provides access to junction 23 of the M25, 16 miles to the south Stevenage railway station benefits from intercity rail services via the East Coast mainline providing access to London (19 minutes) and the north of England and Scotland Middlesex House is situated on the west side of Gunnels Wood Road, the main
commercial area in Stevenage. The new GSK £400m life science campus is close by, which is due to create 5,000 new jobs in the next 10 years.

Occupiers close by include: Huws Gray, Costco and Europcar. Tenants within the estate include A2 Global Electronics + Solutions, Eurochange LTD, amongst others. There are further development opportunities.

The building is multi-let to four separate occupiers, with a weighted average unexpired lease term of circa 4.5 years to expiry, and generates £183,523 pa.

Energy Performance Certificates

EPC

Brochures

Middlesex House, Middlesex House, Rutherford Close, Stevenage, SG1 2EF

Open mapStreet View

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Stevenage Station0.7 miles
  • Knebworth Station3.1 miles
  • Hitchin Station3.6 miles

About John D Wood, Mayfair

34-35 Clarges Street, Mayfair, London, W1J 7EJ

John D Wood are a well-established Commercial Property Consultant with a superb name and huge amount of brand recognition throughout the U.K. Our long established brand evokes a sense of history and quality, while giving an immediate sense of confidence to our clients who feel secure and well advised when dealing with a firm with such a long and well established history.

The core of the business is commercial property management. We have a team of both property and facilities managers as well as accountants who are dedicated to dealing with the managed properties, including service charge where applicable. We have an unprecedented knowledge of property management and if we are unable to manage the property in-house then we know exactly what is required in procuring these services for clients. Clients know how we work and appreciate our honesty if we are unable to manage the property in-house and are more than comfortable with us procuring property and facilities management companies on their behalf.

We also have a lettings team, investment team, professional team and valuation team. Our valuation team is led by the former global head valuer for DTZ. We mix experience with youth, ensuring that we have a good combination of young and hungry employees eager to provide a quality service to our clients and experienced qualified surveyors to ensure this is delivered.

Notes

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Disclaimer - Property reference 354314-1. 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 John D Wood, Mayfair. 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.

Map data ©OpenStreetMap contributors.

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