Lexden Portfolio

Ten UK properties

Overview

  • A collection of ten office properties throughout the UK
  • Total office accommodation extending to 331,492 sq ft NIA
  • The portfolio is predominantly let to Government tenants
  • A wide geographical spread of assets
  • Total passing rent of £3,185,559.50 per annum, reflecting £11.49 per sq ft on let space
  • One asset currently vacant (16% of floor area) which has recently gained planning consent for alternative uses
  • Offers a WAULT of 4.27 years to expiry, or 4.06 years to break
  • 20% of the income is subject to CPI review
  • Eight properties are held freehold/heritable and two long leasehold
  • A number of leases have recently been extended with further re-gear discussions occurring providing the opportunity to extend the portfolio WAULT
Offers are invited in excess of £36,300,000 (Thirty-Six Million, Three Hundred Thousand Pounds).

This price reflects a NIY of 9.00% on the income producing assets, assuming purchaser's costs of 6.55%, and an overall capital value of £110 per sq ft.

Please refer to the Marketing Brochure for further information.

Location

Situation

Description

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NET INITIAL YIELD:
9%
PRICE:
£36,300,000
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