Medina & Morton House, Fieldhouse Lane, Marlow Business Park, Buckinghamshire SL7 1TB SL7 1TB
01 July, 2013
Freehold Office Investment located in Marlow Business Park, a prestigious South East office location.
Walking distance to Marlow station and attractive amenities of Marlow town centre.
Two modern headquarters buildings constructed in 1991 totalling 39,095 sq ft with excellent parking provision.
The configuration of the buildings with excellent natural light, raised floors, air conditioning and lifts offer a strong platform or refurbishment to achieve enhanced rents and benefit from the shortage of supply of Grade A accommodation locally.
Short term lease expiry and fully costed refurbishment scheme offers the potential for a purchaser to deliver Grade A accommodation with 12 months.
Fully let to Renew Holdings Ltd until September 2013 producing £852,000 pa (equating to £21.80 psf).
Offers for the freehold are sought in excess of £3,470,000 (three million, four hundred and seventy thousand pounds), subject to contract and exclusive of VAT, which shows a capital value of £90 psf and an attractive net initial yield of 23.20% assuming purchasers costs of 5.80%