Size: 14,775 Sq Ft
Use: Investment
Price: £1,700,000 for the Freehold
FOR SALE - Prime office location on Winckley Square, Preston
14,775 sq. ft. Multi Let Office Investment
£1,700,000 (£115 psf)
Currently producing net rent of £158,364 pa
Net initial yield of 8.9% (assuming purchaser's costs of 4.93%)
About the property
Location
Derby House is located on the east side of Winckley Square, which is traditionally referred to as the prime office location within Preston City Centre. The Winckley Square perimeter is renowned for professional organisations, banks and financial institutions such as Napthens Solicitors, Farleys Solicitors and Harrison Drury .
Prestons main retail high street (Fishergate) is less than 100m from the property and is home to various national brands such as Marks & Spencers, H&M, W H Smiths, Mowgli and many others.
Preston train station is approximately 500m from the property with direct links into local conurbations along with London and Manchester. Junction 31 of the M6 motorway is 2.8 miles from the property.
Description
The prestigious and ideally located Derby House fronts the eastern corner of Winckley Square, Preston's prime office location. The property has been refurbished by the current owners to a high standard throughout without 11 individual office suites within the property.
The property is arranged over 4 floors and benefits from 32 car parking spaces available on site. The tenants all occupy on effective full repairing and insuring terms.
Access to the building is through the shared entrance with passenger lift to the all floors.
The office suites range from 359 sq. ft up to 2,834 sq. ft. A full tenancy schedule is available on request.
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