Sold

Hyde Park House, 1-3 Crown Street, Ipswich, Suffolk

Midlands

dba150

Office£3,700,000

Tenure: Freehold
Tenancy: Multi Let

Investment summary

•The property comprises an office building constructed in the mid 1980’s arranged over basement, ground first and second floors. The building is of brick construction under a pitched slate roof. The property provides a total net internal floor of approximately

•2,685.06 sq m, (29,902 sq ft). In addition, there are 42 car parking spaces.

•At the date of sale the majority of the building was let to CGU Insurance Plc for a term of 15.25 years from September 1993 expiring December 2008, at a rent of £285,000 per annum equating to £105.49 per sq m, (£9.86 per sq ft).

•Net initial yield 7.3%.