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AGENT'S DETAILS


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

For sale: £1,950,000.00|35940 Sq Ft|Office, Business park, Offices

PROPERTY DETAILS

FOR SALE£1,950,000.00
SIZE35940 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 ON24th September 2020

DESCRIPTION

Modern, multi let office building in attractive setting
• 3,339 sq m (35,940 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. www.sherwoodbusinesspark.co.uk

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 currently comprises 6 separate suites.

Externally there is a good ratio of parking at 167 spaces 1 space per 218 sq ft.

ACCOMMODATION:
3,339 sq m (35,940 sq ft)

In addition, there is a generously sized general reception / lobby area.

Please note, due to access issues and social distancing matters related to the Covid-19 outbreak, we have been unable to measure all of the suites internally.

The Yusen and Team 17 suites have been quoted on the basis of the landlord’s tenancy schedule. Whilst we have no reason to doubt their validity, we would recommend that intending purchasers seek further clarification prior to any binding commitment.

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 2.3 years to expiry and 1.7 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.

Three vacant open plan suites provide significant asset management and value add opportunity.

See the attached tenancy schedule.

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

reflecting a potential reversionary yield of 14.74 % (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.

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

VAT:
Vat is applicable.

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

VIEWING:
heb Surveyors
Robert Maxey
T: 0115 979 3496
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 119770
E: rob@cppartners.co.uk

LOCATION

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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