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1460 Parkway - Solent Business Park - Solent House, Fareham, HAM

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Solent Business Park - Solent House - 1460 Parkway

Fareham, PO15 7AF

Property type:Office Sub Type:- Status:Existing Year built:2000
Floors:3 Typical floor:5,858 sq ft Building size:17,402 sq ft
For sale price:£3,100,000 Price:£178.14 sq ft
Yield:8.00 %
Parking:18 Surface spaces are available; Ratio of 5.98/1,000 SF Amenities:Raised Floor, Central Heating, Reception, Suspended Ceilings, Air Conditioning

The property comprises a detached purpose built office building arranged over three floors, set within its own landscaped grounds with private car parking.

The property is located in the established 199 acre Solent Business Park close to Junction 9 of the M27. Swanwick Railway Station is within close proximity.

Sale Notes:
Located on Solent Business Park, the South Coast’s premier business park.
Modern detached self-contained office building comprising 17,515 sq ft of high quality office accommodation.
The property is fully let to three tenants; Sedgwick International UK, Eight Wealth Management Limited and Provident Personal Credit Limited.
AWULT of 5.51 years to expiry and 4.71 years to break.
Current rent passing of £263,734 per annum.
New rental tone of £16.25 psf set on the most recent letting to Eight Wealth Management Limited.
96 car parking spaces providing excellent car parking ratio of 1:182 sq ft.
Offers are sought in the region of £3,100,000 subject to contract and exclusive of VAT. A purchase at this level reflects an attractive net initial yield of 8% and a Reversionary Yield of 8.62%, allowing for purchaser’s costs of 6.46%. This represents a low capital value of £177 psf.

Richard Lea
020 7543 6832

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