Wellbrook Court, Girton Road, Cambridge, CB3 0NA

Property specification

• Comprising 6 units and multi-let to 8 tenants totalling 40,294 sq ft NIA
• WAULT of 3.62 years to expiry and 2.29 years until break providing immediate asset management opportunities
• Total rent passing of £959,800 per annum reflecting a low blended average of £23.82 psf
• Significant reversionary potential with prime rents in Cambridge in excess of £60.00 psf and good quality second-hand rents in excess of £40.00 psf
• Excellent asset management potential through re-gearing existing leases and repositioning of the park
• Future redevelopment potential and the ability to expand massing on the site due to the low site cover and the underutilisation today
• Our client is seeking offers in excess of £8,750,000 subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 10.28% and a capital value of £217 psf assuming purchase costs of 6.68%.
• £8,750,000 / NIY 10.28%