- FOR SALE
- Multi Let Office Investment
- Currently producing net rent of £189,000 pa
- Equates to a net initial yield of 8.07% (assuming purchaser's costs of 6.32%)
- NHS occupy 13,363 sq ft paying a net rent of £110,000 pa on a lease expiring June 2028
- Total site area 1.53 acres
- Total net internal area 21,379 sq ft
- Fully let and full tenancy schedule is available on request
Ribble House is ideally located within walking distance of Bamber Bridge town centre, yet only minutes away from Preston city centre and the motorway network (M6), which connects with the M61/M65 and M55. Bamber Bridge is a town which sits in between Preston and Chorley, with all town centre amenities within close walking distance of Ribble House, including the railway station.
The former headquarters office facility was recently refurbished to a high standard and the property has been fully let since June 2018 on four separate tenancies. Each suite has been refurbished to a high specification, with over 100 car parking spaces available on site. The tenants all occupy on effective full repairing and insuring terms. Access to the building is through the feature atrium entrance with passenger lift to the first floor. The office suites range from 704 sq.ft up to 13,363 sq.ft. A full tenancy schedule is available on request.
The net internal area of the building totals 21,379 sq.ft.
The building is currently fully let on various lease terms. The NHS are the largest occupier, occupying 13,363 sq.ft over ground and first floors. A full tenancy schedule is available on request.
All mains services are connected to the premises. The office suites are separately metered and the cost of utilities is covered through the service charge.
Each suite has been rated separately and the tenants are responsible for payment of their own business rates for the areas which they occupy. Full details available on request.
Ribble House is currently fully let to a total of four tenants, producing a net annual rental of £188,824 per annum. The NHS occupy 13,363 sq.ft of office accommodation on a 10 year lease from June 2018. The net rent received from NHS is £110,000 p.a. (£8.23 psf.) Studsvik Alpha Engineering Ltd. occupy 4,770 sq.ft on a 10 year lease from November 2013, currently paying a net rental of £50,000 per annum. (£10.48 psf.) Sub Six occupy 2,542 sq.ft on a 5 year lease from October 2016, paying a net rental of £20,336 per annum. (£8 psf.) Richardson Trading occupy 704 sq.ft on a 5 year lease from April 2017, paying a net rental of £8,448 per annum. (£12 psf.) Full tenancy schedule is available on request.
An Energy Performance Certificate is available on request.
The property is VAT elected and it is anticipated that the transaction will be treated as a transfer of going concern (TOGC)
The property is held on a freehold basis
The investment is available for immediate purchase
Each party to be responsible for their own legal costs
Strictly through agents: Taylor Weaver (James Taylor) 01254 699030 Avison Young (Oliver Rowe) 0161 228 1001