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Burgess Hill

Roche Diagnostics, Charles Avenue, Burgess Hill RH15 9RY

Status: Sold

Date: 01 January, 2015

Type: Offices

Roche, Burgess Hill

  • Prime South East Headquarters Office investment located in the affluent town of Burgess Hill.
  • Burgess Hill is a growth town which is strategically located adjacent to the A23 (M23) connecting Brighton to Gatwick Airport and the M25 motorway and central London.
  • Highly specified grade A headquarters office building, totalling 79,742 sq ft (7,408 sq m), set in an attractive secure site.
  • Extensive fit out including a full height function space, ground floor coffee bar and restaurant, VIP dining rooms, a gym, customer training areas and showrooms.
  • Excellent parking provision of 300 spaces reflecting a ratio 1:266 per sq ft.
  • Let to Roche Diagnostics Limited on a 15 year FRI lease expiring in June 2021 (6.7 years unexpired).
  • Current rent of £1,586,583 per annum (£19.90 per sq ft overall) with a fixed uplift in June 2016 to £1,803,850 per annum (£22.62 per sq ft overall).
  • Roche Diagnostics Limited (D&B 5 A1) are a wholly owned subsidiary of Roche Holdings AG.
  • Rental guarantee for the duration of lease from Deutsche Bank AG.
  • Freehold.
  • Large site affording the potential for future extension.
  • Offers are sought in excess of £17,925,000 (seventeen million, nine hundred and twenty five thousand pounds) subject to contract and exclusive of VAT reflecting a net initial yield of 8.37%, with a fixed uplift in June 2016 to 9.51% assuming purchaser’s costs of 5.80%.