Freehold Office Investment
Located in close proximity to the A38 providing easy access to Plymouth and the wider South West area. Two 1990’s office buildings totalling 8,709 sq ft (809.09 sq m) NIA. Freehold. Current rental income of £96,993 per annum. Low base rental of £11.14 per sq ft. We are instructed to seek offers of £1,200,000 (One Million, Two Hundred Thousand Pounds), subject to contract and exclusive of VAT. Net Initial Yield of 7.63%, after allowing for purchaser’s costs of 5.93%. Low capital value of £138 psf.
The Estate has good road communications with the Deep Lane junction of the A38 Devon Expressway located immediately to the south, which in turn gives access to the City of Plymouth and Cornwall to the west and Exeter and the M5 motorway network to the east.
Langage is an established mixed use commercial location and surrounding occupiers include Audi, Lexus and Toyota, Harley Davidson, Ferguson Transport, Blackburn Metals, and The Co-operative.
Langage Office Campus fronts Sandy Road which offers direct access to the A38 dual carriageway. Ashleigh Court & Prudence House are located on the right hand side at the entrance of the estate. Other occupiers on the campus include EE, Russell Worth Solicitors, Kitsons Solicitors, Healium and Kiddi Caru Day Nursery.
Constructed in the early 1990’s the offices have been divided to provide four separate suites. The specification includes:Traditional brick construction Double glazed windows Raised floors Suspended ceilings Full gas fired central heating Male and female WC’s (including disabled) Some suites have been comprehensively refurbished to include new air conditioning, LED lighting, carpets and suspended ceilings.
Ashleigh Court & Prudence House provide 41 designated parking spaces showing an excellent ratio of 1:212 sq ft. The properties occupy a site of 0.228 hectares (0.563 acres).