Modern Office Suite - To Let or For Sale
The Bothy is located on the prestigious Cams Hall Estate. The Cams Hall Estate is located approximately 1 mile from to Fareham town centre. The town centre provides a plethora of high street retail, restaurant and leisure facilities. The Cams Mill, (Fuller’s) Pub and Restaurant is located at the entrance to the Cams Estate. Further provisions are available from The Dovecote Eatery and Cams Hall Estate Golf Club are both located a short walk away. The Bothy is approximately 1 mile from Junction 11 of the M27. The M27 provides a direct link into London via the M3 or A3(M). Southampton and Portsmouth are located approximately 16 miles to West and 9 miles to the East respectively.
The Bothy is a contemporary Grade II listed converted barn building (List entry Number: 1233901). The outbuilding originally serviced the Cams Hall in the 17th Century. The building has attractive elevations with a mix of brick and stonework under a pitched tiled roof. The offices are open plan with sections of demountable partitioning with exposed wooden roof trusses at first floor level. The working environment if enhanced further by a good level of natural light and views into the centre of the Home Farm estate.
Leasehold or sale of long leasehold interest.
Newly Refurbished Multi-Let Office Investment
• Strategic location near Junctions 13, 14 and 15 of the M40 Motorway.
• One Warwick Technology Park comprises a headquarters style office building, recently refurbished to Grade A standard.
• The property extends to 49,157 sq ft over three floors.
• Fully-let to three principal tenants; Accenture (UK) Ltd, Baker Hicks Ltd and Delphi Diesel Systems Ltd.
• The property currently produces a net rental income of £984,658.50 per annum (including additional car park rent), reflecting £18.14 per sq ft overall.
• Baker Hicks and Delphi Diesel Systems have both committed to new leases on refurbished accommodation, setting a new headline rental level in excess of £19.00 psf.
• Reversionary potential via the future refurbishment of Accenture's accommodation, which is yet to be refurbished and is currently let off £16.02 psf.
• Excellent covenant strength with all tenants offering D&B rated minimum risk covenants.
• Average weighted unexpired lease term of 8.75 years to expiry and 5.69 years to break, the property benefits from long term income security.
A purchase at this level reflects an attractive Net Initial Yield of 7.00% and a low capital value of £268.01 per sq ft, assuming full purchasers’ costs.