Property Information
Address:
Southgate House, 449-499 Midsummer Boulevard, Milton Keynes, Buckinghamshire
, MK9 3BN
, Buckinghamshire
, United Kingdom
Price: Property no longer available.
Size: SOA
Primary Category: Office
All Categories:
Investment, Office,
Property Ref/Movehut: MH665642
Property Ref/Agent: 6350
*Please use the agent ref when calling the agent directly.
Property description
Government let Central Milton Keynes office investment
Office accommodation totalling approx. 41,646 sq ft (3,869.1 sq m) over 4 floors with 18 car parking spaces
The property is entirely let to The Secretary of State for Levelling Up, Housing and Communities for a term
expiring 31/03/2028, therefore providing 5.89 years to expiry
The next rent review is 01/04/2023
2023 Tenant break clause removed
The passing rent is £655,000 per annum (£15.72 per sq ft overall)
Prime Grade A rents in Central Milton Keynes at £28.50 per sq ft.
Estimated headline rental value as existing £790,000 per annum, equating to £19.00 per sq ft with potential to increase this to a headline rent of £26.00 per sq ft with a full refurbishment
Potential to increase massing subject to necessary consents
£9,445,000 / NIY 6.5%
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