{"loaderData":{"0-3":{"propertyListing":{"building":{"id":"762534154629745","summary":"Investment Summary:\n\nAn opportunity to acquire a modern fully let office building.\nProminently located within Hanley town centre, the commercial and administrative heart of Stoke-on-Trent.\nStrategically positioned approximately 6 miles from Junctions 15 and 16 of the M6 motorway, providing excellent connectivity across the Midlands and North West regions.\n79% 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.\n21% let to the NHS, who have exercised their break option dated 31/03/2027.\nComprises 44,786 sqft (4,161 sqm) arranged over three floors.\nProvides 167 on-site car parking spaces, equating to a parking ratio of 1:268 sqft.\nThe property is held Freehold under title number SF475985.\nProduces a passing rent of £451,602 per annum, reflecting a low average rent of £10.08 per sqft inclusive of parking spaces.\nHeadline ERV of £551,000 per annum.\nProvides a WAULT of 2.22 years to lease breaks.\n100% of current income secured against UK Government-backed occupiers.\nPotential asset management opportunities through upcoming lease events and future rental growth.\n\nProposal:\n\nWe are instructed to seek offers in excess of £3,300,000, subject to contract and exclusive of VAT.\n\nA 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.\n\nNet I","archived":false,"description":"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 Initial Yield:
12.85%

Reversionary Yield:
15.68%

Capital Value:
£74 per sqft

Passing Rent:
£451,602 per annum

ERV:
£551,100 per annum","disclaimer":{"raw":"Disclaimer - Property reference 7409FH. The information displayed about this property comprises a\n property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of\n the advertisement or any linked or associated information, and Rightmove has no control over the\n content. This property advertisement does not constitute property particulars. The information is\n provided and maintained by Harris Lamb, Stoke-On-Trent. Please contact the selling\n agent or developer directly to obtain any information which may be available under the terms of\n The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations\n 2007 or the Home Report if in relation to a residential property in Scotland.\n"},"transactionType":"SALES","amenities":[],"keyFeatures":["Government let office investment"],"environment":{"epcRating":null,"breeamRating":null,"environmentalDescription":null},"pricing":{"price":3300000,"displayQualifier":"OFFERS_IN_EXCESS_OF","frequency":null,"rentObligation":null},"useClasses":[],"tenureType":null,"tenureYearsRemaining":null,"parkingSpaces":null,"yearBuilt":null,"yearRenovated":null,"listedBuilding":null,"numberOfFloors":null,"planningPermission":null,"businessForSale":false,"media":{"brochures":[{"uri":"property-brochure/bb0692de6/762534154629745/bb0692de65fbf6512c7027ad1eb24f7b.pdf","description":"Bennett House Investment Brochure"}],"photos":[{"uri":"property-photo/7c43f25f3/762534154629745/7c43f25f3b31660b36a8f30231f9ba20.jpeg","description":"Photo 1"},{"uri":"property-photo/365ed3be3/762534154629745/365ed3be3f25cc6ffe1e519010859823.jpeg","description":"Photo 2"},{"uri":"property-photo/e475bb646/762534154629745/e475bb6460d8aa9018eff5ea7f90977f.jpeg","description":"Photo 3"},{"uri":"property-photo/bdc53f7af/762534154629745/bdc53f7af187908d9426e77968478373.jpeg","description":"Photo 4"},{"uri":"property-photo/e195951e2/762534154629745/e195951e2849d25d011f9cf8d6c2e137.jpeg","description":"Photo 5"},{"uri":"property-photo/4f50d9896/762534154629745/4f50d98965f2113943bed75f1d1cae59.jpeg","description":"Photo 6"}],"floorPlans":[],"virtualTours":[],"videoTours":[],"epcs":[],"epcGraphs":[]},"sizing":{"unit":"SQFT","size":44786,"minSize":null,"measurementType":null,"maxSize":null},"location":{"displayAddress":"Bennett House, Town Road, Stoke On Trent, Staffordshire, ST1 2QB","showMap":true,"postcode":{"incode":"2QB","outcode":"ST1"},"streetView":null,"latitude":53.03183,"longitude":-2.172274},"nearestStations":[{"distance":1.6864647497882683,"name":"Stoke-on-Trent Station","types":["NATIONAL_TRAIN"],"unit":"miles"},{"distance":1.955167364086782,"name":"Longport Station","types":["NATIONAL_TRAIN"],"unit":"miles"},{"distance":3.2637709118319442,"name":"Longton Station","types":["NATIONAL_TRAIN"],"unit":"miles"}],"agents":[{"name":"Harris Lamb, Stoke-On-Trent","email":null,"profileUrl":"/estate-agents/agent/Harris-Lamb/Stoke-On-Trent-58365.html","logo":"/partner-logo/13022966-LOGO-1765973422.jpeg","id":58365,"description":"","telephoneNumber":"01788 223225","morePropertiesFromAgentUrl":"/commercial-property-for-sale/find/Harris-Lamb/Stoke-On-Trent.html?locationIdentifier=BRANCH%5E58365&propertyStatus=all&includeLetAgreed=true&_includeLetAgreed=on","primaryBrandColour":null}],"owner":null,"primaryPropertyClassification":{"propertyClassificationSubType":"OTHER","propertyClassificationType":"OTHER","offices":null,"industrialAndLogistics":null,"leisureAndHospitality":null,"retail":null},"secondaryPropertyClassifications":[{"propertyClassificationType":"OFFICES","propertyClassificationSubType":"OFFICE"}],"letType":null,"letContractLength":null,"status":"AVAILABLE","availableDate":null,"serviceCharge":0,"businessRates":0,"isRentAllInclusive":null,"products":{"commercialSearchProminenceEnabled":true,"featuredProperty":false,"premiumListing":false,"premiumListingLabel":null},"auction":false,"spaces":[]}},"mediaParams":{"mediaType":"photos","mediaIndex":3}}},"actionData":null,"errors":null}