Northern House, Huddersfield

Sold

Investment summary

  • Detached office building occupied by Capita Asset Services.
  • Modern air conditioned offices comprising 19,654 sq ft (NIA) constructed in 1973 substantially extended in 1998.
  • 138 car spaces providing an excellent ratio of 1:142 sq ft
  • 2.17 acre site
  • Attractive setting in a high value residential area with a rural outlook providing a high quality working environment near to Fenay Bridge on the edge of Huddersfield.
  • To be let on a 20 year full repairing and insuring lease.
  • Lease to Capita Business Services Ltd-D & B 5A1 and a major constituent part of FTSE 100 parent company Capita Plc.
  • Initial rent £150,000 per annum (£7.43 p sq ft)
  • 5 yearly rent reviews linked to RPI capped at 3%.
  • Seeking offers in excess of £2,250,000 (Two Million Two Hundred and Fifty Thousand Pounds) to show a net initial yield of 6.25% (net of 6.6% costs) subject to contract and exclusive of VAT.
  • Assuming purchasers costs of 6.6% and annual RPI increases

 

Proposal

Assuming purchasers costs of 6.6% and annual RPI increases at say 2.5%,a purchase at this level would reflect the following attractive yield profile:

Rent passing

Running Yield

Year 1

£150,000

6.25%

Year 5

£169,711

7.07%

Year 10

£192,012

8.00%

Year 15

£217,244

9.05%

 

STATUS - SOLD

Location

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Next steps

Contact Us

Andrew Richardson
T: 0161 819 4234
M: 07544 588 768
E: andrew.richardson@capita.co.uk

 

Andrew Mitchell
T: 0207 544 2442
M: 07901 518 749
E: andrew.mitchell3@capita.co.uk