Sold
Verney House, Gatehouse Road, Aylesbury, Buckinghamshire
North West
dba151
Office£3,600,000
Tenure: Freehold
Tenancy: Single Let
Investment summary
•The property was constructed in 2 phases during the 1960’s and 1970’s and comprises a four storey detached office building with a single-store annexe to the rear. The building is of concrete frame construction with cavity brick cladding. Additionally, the property benefits from 133 car parking spaces.
•The total net internal floor area is approximately 2,564.38 sq m (27,603 sq ft).
•At the date of sale the property was let entirely to the Secretary of State for Health for a term of 17.25 years from June 1996, with a lease expiring in 2013, at a rent of £255,000 per annum, equating to £530 per sq m, (£9.24 per sq ft). There is a rent review in September 2008.
•Net intial yield 6.7%.