Meadway Court, Rutherford Close, Stevenage, SG1 2EF
Size
41,846
Tenure
Freehold
EPC
Parking
196
- Primary use
- Traditional office
- Capacity
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- Desks
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Key features
- High Yielding Multi-let to 24 tenants providing immediate opportunity to increase the rental income.
- Attractive modern office building arranged as four interconnecting buildings
- Constructed around an attractive central courtyard
- 196 car parking spaces
- 2.04 arce site area
- Total current income: £623,738.00 pax
- Occupiers including Trustatrader.com, The Video Standards Council and Brown & Lee Surveyors
- SPV available to be purchased
- Stevenage is undergoing major £1 Billion regeneration programme
Description
Meadway Court is a modern office complex constructed around an attractive central open courtyard. The building is arranged over two and three storeys within a landscaped area providing dedicated onsite car parking for 196 cars. The building is split up into 24 self-contained office suites all with their own self-contained entrance, benefitting from four passenger lifts, suspended ceilings, excellent natural light, gas central heating and air conditioning. The building also lends itself for future development.
Location
Meadway Court is situated on Rutherford Close off Gunnels Wood Road. To the immediate south of the property on Gunnels Wood Road is the prime industrial location in Stevenage which hosts schemes such as The Gunnels Wood Park Estate. Gunnels Wood Road is an important location for industrial occupiers needing easy access to the Midlands and Southern Markets in the UK. Stevenage benefits from excellent road communications, with Junctions 7 and 8 of the A1(M) approximately 2 miles from Meadway Court. The A1(M) also provides further quick access to the M25, M1 and M11. Stevenage railway station is a short walk from the property and benefits from frequent services to London Kings Cross and Moorgate, with a travel time of approximately 19 mins and 35 minutes, respectively. Stevenage is also home to influential global occupiers including Airbus Defence and Space, Fujitsu, GSK and MBDA and has an increasing demand for life science occupiers.
Tenancies/ Income
The building is currently Let to 22 separate tenants on proportional Full Repairing & Insuring Leases for terms of 5- 10 years expiring from July 2026 to January 2036 at a total current rental income of £623,738.00 pax.
Three further units totalling 3,953 Sqft are currently vacant.
Once the building is fully Let ERV is £685,042.46 pax.
Corporate Purchase
The property is held in a UK SPV which is available to acquire by way of a corporate transaction significantly reducing purchaser’s costs.
Freehold Price
Price Upon Application
TOGC
The sale will be treated as a TOGC.
Identification
In accordance with Anti-Money Laundering Regulations, two forms of identification will be required from the successful purchaser.
Viewings
Strictly by appointment through owner’s Sole agents as above.
- Service charge
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- Business rates
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- Use class
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- Listed building
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An Energy Performance certificate helps you understand the current energy efficiency of a property.
Read more about EPC requirementsAsk agent
- BREEAM rating
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- Environmental description
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Brochure
Meadway Court, Rutherford Close, Stevenage, SG1 2EF
About Pemm Estates Ltd, London
Christo & Co are a well-established Estate Agency originally founded by Chris Christo in 1985 after the dissolution of Christo Vegoda. providing a highly professional service, yet personal where Clients can rely upon the expertise of a highly experienced team of Surveyors, Valuers and Commercial/Residential Agents.
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Disclaimer - Property reference 372589-1. 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 Pemm Estates Ltd, London. 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.