Property Information
Address:
Graeme House, Derby Square, Liverpool, Merseyside
, L2 7NX
, Merseyside
, United Kingdom
Price: Property no longer available.
Size: 87002 sq ft8082 sqm
Primary Category: Office
All Categories:
Investment, Office,
Property Ref/Movehut: MH651210
Property Ref/Agent: 15879
*Please use the agent ref when calling the agent directly.
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%.
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%
;