Lakeview House, Priory Business Park, Bedford, MK44 3WH

Property specification

• Prominent location on Bedford's main business park
• Modern offices with air conditioning and raised floors
• Floor area of 11,658 sq ft with 80 car spaces providing an attractive car parking ratio of 1:146 sq ft
• Multi-let to three tenants with 47% of income secured against government grade NHS covenant
• Recently regeared leases at low rents of £12.50 psf
• WAULT of 9.1 years to expiry and 4.8 years to breaks
• Net rent of £140,182 pa reflecting a low blend of £12.02 per sq ft
• A low capital value rate of £124 per sq ft, below replacement cost
• £1,450,000 / NIY 9.11%

Lease terms

Our client is seeking offers in excess of £1,450,000 subject to contract and exclusive of VAT, which reflects a net initial yield of 9.11% assuming purchaser's costs of 6.08%.