Property Information
Address:
2 -4 Pitfield, Milton Keynes, South East
, MK11 3LW
, South East
, United Kingdom
Price: Property no longer available.
Size: 52903 sq ft4915 sqm
Primary Category: Investment
All Categories:
Investment, Office,
Property Ref/Movehut: MH683806
Property Ref/Agent: 114983
*Please use the agent ref when calling the agent directly.
Property description
THREE MEES COMPLIANT HQ OFFICES LOCATED WITHIN THE OXFORD-CAMBRIDGE ARC
4.80 ACRES WITH STRONG UNDERLYING INDUSTRIAL LAND VALUE
Located at the centre of the Oxford, Milton Keynes & Cambridge Arc
Situated within the established industrial district of Kiln Farm and less than 3 miles to the centre of Milton Keynes
The Milton Keynes Office Market has a c.3.5% Grade A Vacancy Rate
Currently MEES compliant with EPC ratings of B and C
Three prominent campus style HQ offices totalling, 52,903 sq ft (4,914.80 sq m), set within a 4.80 acre site
Let to two established tenants, who are both headquartered here
Rockwell Automation have been in occupation for over 15 years
Large car park providing an excellent parking ratio of approximately 1:289 sq ft
WAULT of 3.59 years to expiry
Passing rent of £843,500 per annum, equating to only £15.93 per sq ft a 40%+ discount to prime office rents
Freehold
The 4.80 acre regular shaped site, could allow for future industrial re-development with industrial land values in excess of £1.3m per acre
We are instructed to seek offers in excess of £7,500,000 (Seven Million, Five Hundred Thousand Pounds), subject to contract and exclusive of VAT.
A purchase at this level reflects an attractive Net Initial Yield of 10.52%, a very low capital value of £141 per sq ft and £1.562m per acre after purchaser's costs of 6.80%
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