Investment Summary - Northampton is an established office market in the heart of England, with excellent transport connectivity being located adjacent to the M1 motorway, the uk’s arterial motorway.
- Northampton is home to a number of high profile occupiers including Barclaycard, Nationwide Building Society, Avon, Opus Energy, Grant Thornton, Haines Watts and Shoosmiths llp.
- Unit C Waterside Way is well located prime office prominently positioned in Northampton’s premier business park.
- A new two storey Grade A office building (to be constructed), extending to 9,412 sq ft.
- Fully let to The Car Shop, and guaranteed by Sytner Group one of the largest UK motor groups.
- 10 year term certain, without break.
- Exceptional parking ratio of 1:135 sq ft.
- The current passing rent of £198,740 per annum, equating to £21.11 per sq ft overall.
We are instructed to seek £2,950,000 (Two Million, Nine Hundred and Fifty Thousand Pounds), subject to contract and exclusive of VAT.
A purchase at this level would reflect a net initial yield of 6.35%, assuming the usual purchaser’s costs of 6.35%.
Location The town benefits from excellent road communications, being situated adjacent to the M1 motorway, which serves Northampton from Junctions 15 (4 miles), 15A (6 miles) and 16 (8 miles), via the A45 and other local ring roads.
Easy access is also available to the M6 (Junction 1 – 27 miles), M40 (Junction 10 – 30 miles), A14 (Junction 8 – 15 miles) and A1 (35 miles).
Northampton railway station, which has recently undergone a £20 million redevelopment and will include the addition of a 1,550 multi-storey car park, provides regular, direct rail connections to London Euston and Birmingham New Street.
Accommodation Ground Floor - 4,643 sq ft First Floor - 4,769 sq ft Total - 9,412 sq ft
Specification Unit C Waterside Way, The Lakes comprises a prime new Grade A two storey office building totalling 9,412 sq ft.
The building benefits from the following specification: • vrf air conditioning • Suspended ceilings • cibse LG7 eca compliant low energy LED lighting • New carpet throughout • Full access raised floors • Design for occupational density of 1:10m2 • 1 x 8 person passenger lifts • Male & female WCs, a disabled WC and shower facilities
The property benefits from an excellent parking provision which has been increased by agreement with the tenant.
There are a total of 70 car parking spaces at an exceptional ratio of 1:135 sq ft.
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