Graeme House, Derby Square, Liverpool, Merseyside, L2 7NX

Property Information

Property description

Under Offer - High yielding Freehold city centre office investment

- Liverpool is the Uk's 5th largest City forming part of the Northern Powerhouse and the 2nd largest regional economy.
- Situated in the heart of the city centre fronting Derby Square.
- The property offers 87,002 sq ft together with 58 car parking spaces on a site of 0.72 acres.
- Designed in an L-shape the building offers flexible letting options from whole floors to small suites.
- Freehold.
- The property is multi let to 17 tenants currently producing:

Gross income - £1,177,306

Landlord costs - £149,634

Triple Net income - £1,027,672
- 10,386 sq ft together with 23 car spaces currently vacant.
- Highly reversionary asset with an estimated rental value when fully let in excess of £1,537,025 per annum.
- 56% of the income is secured against Secretary of State who have just agreed short term extension on their lease until June 2022 (lease outside the 1954 Act) when they will vacate to their new 'Regional Hub' within Liverpool.
- Major office refurbishment opportunity once the Government vacate.
- Excellent redevelopment opportunity for a mixed use, hotel or residential scheme.
- Reflecting a gross initial yield of 10%, a Net Initial Yield of 8.75%.
- Yield on letting of the vacant space - 11.14%.
- Following refurbishment of HMRC Space - 12%.

Location Highlights

Liverpool is the UK's 5th largest City and the commercial and administrative centre of the larger
Merseyside area. It is located 212 miles North West of London, 98 miles North West of Birmingham and 35 miles West of Manchester and has a population of circa 500,000.

Situated in the heart of the city centre fronting Derby Square.
Site of 0.72 acres.
58 car parking spaces.
Designed in an L-shape.
Multi let to 17 tenants.
£1,177,306 per annum.
Net Initial Yield - 8.75%.
Offers in excess of £11,000,000 (Eleven Million Pounds) subject to contract reflecting:

Gross Initial Yield - 10%

Net Initial Yield - 8.75%

Yield on letting of the vacant space - 11.14%

Following refurbishment of HMRC Space - 12% subject to contract and net of purchasers costs of 6.7%

EPC for Graeme House, Derby Square, Liverpool, Merseyside

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