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1 Oakwood Court, Sherwood Business Park, Nottingham NG15 0DR

For sale: £1,950,000.00|35,755 Sq Ft|Office, Business park, Offices

Property details

FOR SALE£1,950,000.00
SIZE35,755 Sq Ft
ADDRESS1 Oakwood Court, Little Oak Drive, Sherwood Business Park, Nottingham NG15 0DR
TYPEOffice, Business park, Offices
TENUREInvestment Opportunity, For Sale Freehold, For Sale Leasehold
POSTED ON5th January 2021

Description

Modern, part let office building in attractive setting
• 3,321.75 sq m (35,755 sq ft)
• Part air conditioned with good on-site car parking
• Pleasant working environment adjacent to the M1 (J27)
• Asset management opportunity with substantial yield shift potential
• Low Capital Value £/Sq Ft
• Excellent Tenant Covenants

LOCATION:
1 Oakwood Court is located on the popular and well established Sherwood Business Park. It is set within a 'parkland' setting, and this well regarded business park offers convenient access to the M1 Motorway at the adjacent J27.

Nottingham city is within easy reach (6.5 miles), as are the conurbations of Derby, Mansfield, Chesterfield and Sheffield.

Other major occupiers include E.ON, Pendragon Motor Group, L'Oréal, Rolls Royce, Tsubakimoto UK and Zeppelin.

The nearby Mour Hotel provides a good quality restaurant / bar facility, with the Lakeside Café offering further onsite catering.

DESCRIPTION:
Modern open plan office building arranged over ground and first floor level, offering a high standard of accommodation with passenger lift, raised access flooring and air conditioning to part.

The building was constructed to offer 2 large, open plan floorplates and is currently divided into 6 separate suites.

Externally there is a good ratio of parking at 167 spaces 1 space per 214 sq ft.

ACCOMMODATION:
3,321.75 sq m (35,755 sq ft)

TENURE:
Virtual freehold - 999 years from 1995 subject to a peppercorn rent.

Part let to Yusen Logistics (UK) Limited, and Team 17 Digital Limited, with an average weighted unexpired term of 1.98 years to expiry and 1.68 years to break. Both tenants offer an Experian credit score of 100 - Very Low Risk.

Total current passing rent of £137,712 per annum exclusive.

See full sales particulars for the tenancy schedule.

SERVICE CHARGE:
A service charge is payable by the tenants in addition to the rent.

EPC:
Ground Floor: B-43
Remainder of building: C-73

PRICE:
Offers invited in the region of:
£1,950,000
(One Million, Nine Hundred and Fifty Thousand Pounds)

reflecting a potential reversionary yield of 14.67% (based on a £8.50 psf and a low capital value per sq ft of £54 per sq ft. A quality refurbishment of common parts and vacant suites has potential to improve the ERV & reversionary yield.

VAT:
The property is elected for Vat purposes and VAT will be applicable.

VIEWING:
heb Surveyors
Robert Maxey
T: 0115 979 3496
M; 07967 603 091
E: rmaxey@heb.co.uk

(Or through our joint agents)

CPP (Nottingham)
Sean Bremner
M: 07541 505 980
E: sean@cppartners.co.uk

CPP (Sheffield)
Rob Darrington
M: 07506 119 770
E: rob@cppartners.co.uk

Location

marker
Location: 1 Oakwood Court, Little Oak Drive, Sherwood Business Park, Nottingham NG15 0DR

Newstead (1.0 miles)

Kirkby in Ashfield (2.0 miles)

Sutton Parkway (2.9 miles)

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