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For Sale£1,940,000.00

Chambros House

, 15011 Sq Ft
Tenure: Investment Opportunity, For Sale Freehold
Size: 15011 Sq Ft
Price: £1,940,000.00
Location: MCH House (Formerly Chambros House), Bailey Drive, Gillingham Business Park, Gillingham, ME8 0PZ
*A self-contained office building originally constructed by an owner occupier in the late 1980's totalling 15,011 sq. ft.
*Held on long leasehold basis for 99 years less 1 day from 10th July 1978 at a peppercorn rent
*Lease provides for an extension of 26 years also at a peppercorn rent provided notice is served as required. Assuming this is the case the extended lease term will expire on 8th July 2103 i.e. some 85 years unexpired
*Occupied as their headquarters by Medway Community Healthcare, a community interest company providing services to the NHS and others
*Current rent passing £145,000
*Rent review due on 8th July 2018
*Asking price £1.94 million reflecting an attractive initial yield of 7% after allowing for purchaser's costs of 6.6%

MCH House comprises a mainly 2 storey detached office building constructed in the late 1980's with undercroft car parking and additional surface car parking. The building is of steel framed construction with metal framed windows, cladding panels under a pitched tile covered roof. There is additional office accommodation at a mezzanine level above the main upper floor. Specification includes:-

*8 person passenger lift serving basement, ground and first floors
*3 compartment underfloor trunking
*Mechanical ventilation
*Double Glazing
*Excellent parking provision of 79 car parking spaces including 18 undercroft

( Agency Pilot Software Ref: 1424 )
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