Property photos
£650,000
(£143.30/sq. ft)
Office for sale
8 Kew Court, Pynes Hill, Rydon Lane, Exeter, Devon EX24,536 sq. ft
Available immediately
Local area information
Property location
Nearby amenities
- Clyst Heath Nursery and Community Primary School 0.4 miles
- Woodwater Academy 0.4 miles
- Digby & Sowton 0.6 miles
- Newcourt 0.8 miles
These distances are calculated in a straight line. The actual route and distance may vary.
Features and description
- Modern three storey office building on established office campus
- Approx: 4,536 sq ft (421.55 sq m)
- Strong local covenant
- Total rent: £51,000 p.a.
- Lease until March 2030
- Generous parking. Total of 18 spaces.
- Freehold price: £650,000 plus VAT
- Freehold price: £650,000 plus VAT equating to a net initial yield of 7.46% after normal purchasers costs
Modern three storey office building on established office campus
Approx: 4,536 sq ft (421.55 sq m)
Strong local covenant
Lease until March 2030
Total rent: £51,000 p.a.
Kew Court is situated on the established Pynes Hill Office Campus, which is accessed off Rydon Lane approximately 1 mile from Junctions 29 and 30 of the M5. The city centre is around 3 miles away and there are regular bus links to the city centre and Park & Ride services. The nearest railway station is Digby & Sowton, providing services into the city and to locations beyond.
There is a modern Retail Park and Tesco superstore nearby together with a Costa outlet at the entrance to the office campus.
Exeter is an historic University city and is the main administrative and commercial centre for Devon with a resident population of approximately 130,000 and a catchment population of 500,000 within a 40 minute drive time.
Exeter is situated some 79 miles south of Bristol, 40 miles north of Plymouth and 200 miles to the west of London. The city has its own Airport and is served by a comprehensive intercity rail service from Exeter St David's with a fastest journey time to London of approximately 2 hours.
Exeter has attracted a number of major occupiers and organisations to locate in the city including the Met Office, Ashfords Solicitors, South West Water and edf Energy.
The property comprises an end terrace office building with the accommodation arranged on ground, first and lower ground floors. The accommodation is accessed via the main shared lobby, off which are w/c and shower facilities. The offices are mainly open plan with demountable partitioning forming individual meeting rooms, private offices and kitchen facilities.
The specification includes:
Suspended ceilings with recessed lighting, gas fired central heating, carpeted floors and perimeter trunking providing ample power and data points linked to a server room.
Large break out areas on ground and first floors have kitchen facilities including fitted appliances.
Accommodation
The property comprises the following approximate net internal floor areas:
Lower ground floor: 772 sq ft (71.75 sq m)
Ground floor: 1,924 sq ft (178.8 sq m)
First floor: 1,840 sq ft (171 sq m)
total: 4,536 sq ft (421.55 sq m)
Estate charge
An estate charge applies, details on request.
Parking
The offices benefit from a generous parking ratio with a total of 18 spaces, 8 directly in front of the unit and 10 in a car park adjacent to Kew Court.
Proposal
The freehold interest of the property is available at a price of £650,000 plus VAT equating to a net initial yield of 7.46% after normal purchasers costs.
Further information
All property specific information including the lease and EPC can be obtained from the sole agents.
The property has been elected for VAT and therefore it is anticipated the transaction will be treated as a Transfer of a Going Concern (togc).
An estate charge applies, details on request.
Both parties to bear their own legal costs in the transaction.
The property has a rating of band C/61.
The property is held by Smart Trade Limited by way of a lease from 25th March 2015 for a term of 15 years on a full repairing and insuring basis. The passing rent is £44,000 per annum and subject to review on a 5 yearly basis.
A separate Law Society lease is held by Smart Trade Limited for the car park ancillary to 8 Kew Court. The lease is for a term of 11 years expiring 24th March 2030. The passing rent is £7,000 p.a. And was reviewed on 24th March 2024.
Total rent received: £51,000 p.a.
Note* Smart Trade Limited has sub-let the first floor by way of a co-terminus lease expiring 2030. The sub lease is contracted outside the Landlord & Tenant Act 1954.
Smart Trade Limited Company Number: 03446373 was established in 1997 and is involved with management consultancy, data processing, hosting and related activities.
Approx: 4,536 sq ft (421.55 sq m)
Strong local covenant
Lease until March 2030
Total rent: £51,000 p.a.
Kew Court is situated on the established Pynes Hill Office Campus, which is accessed off Rydon Lane approximately 1 mile from Junctions 29 and 30 of the M5. The city centre is around 3 miles away and there are regular bus links to the city centre and Park & Ride services. The nearest railway station is Digby & Sowton, providing services into the city and to locations beyond.
There is a modern Retail Park and Tesco superstore nearby together with a Costa outlet at the entrance to the office campus.
Exeter is an historic University city and is the main administrative and commercial centre for Devon with a resident population of approximately 130,000 and a catchment population of 500,000 within a 40 minute drive time.
Exeter is situated some 79 miles south of Bristol, 40 miles north of Plymouth and 200 miles to the west of London. The city has its own Airport and is served by a comprehensive intercity rail service from Exeter St David's with a fastest journey time to London of approximately 2 hours.
Exeter has attracted a number of major occupiers and organisations to locate in the city including the Met Office, Ashfords Solicitors, South West Water and edf Energy.
The property comprises an end terrace office building with the accommodation arranged on ground, first and lower ground floors. The accommodation is accessed via the main shared lobby, off which are w/c and shower facilities. The offices are mainly open plan with demountable partitioning forming individual meeting rooms, private offices and kitchen facilities.
The specification includes:
Suspended ceilings with recessed lighting, gas fired central heating, carpeted floors and perimeter trunking providing ample power and data points linked to a server room.
Large break out areas on ground and first floors have kitchen facilities including fitted appliances.
Accommodation
The property comprises the following approximate net internal floor areas:
Lower ground floor: 772 sq ft (71.75 sq m)
Ground floor: 1,924 sq ft (178.8 sq m)
First floor: 1,840 sq ft (171 sq m)
total: 4,536 sq ft (421.55 sq m)
Estate charge
An estate charge applies, details on request.
Parking
The offices benefit from a generous parking ratio with a total of 18 spaces, 8 directly in front of the unit and 10 in a car park adjacent to Kew Court.
Proposal
The freehold interest of the property is available at a price of £650,000 plus VAT equating to a net initial yield of 7.46% after normal purchasers costs.
Further information
All property specific information including the lease and EPC can be obtained from the sole agents.
The property has been elected for VAT and therefore it is anticipated the transaction will be treated as a Transfer of a Going Concern (togc).
An estate charge applies, details on request.
Both parties to bear their own legal costs in the transaction.
The property has a rating of band C/61.
The property is held by Smart Trade Limited by way of a lease from 25th March 2015 for a term of 15 years on a full repairing and insuring basis. The passing rent is £44,000 per annum and subject to review on a 5 yearly basis.
A separate Law Society lease is held by Smart Trade Limited for the car park ancillary to 8 Kew Court. The lease is for a term of 11 years expiring 24th March 2030. The passing rent is £7,000 p.a. And was reviewed on 24th March 2024.
Total rent received: £51,000 p.a.
Note* Smart Trade Limited has sub-let the first floor by way of a co-terminus lease expiring 2030. The sub lease is contracted outside the Landlord & Tenant Act 1954.
Smart Trade Limited Company Number: 03446373 was established in 1997 and is involved with management consultancy, data processing, hosting and related activities.
More information
Listed by
Stratton Creber Commercial
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