Bylands Way - Belasis Hall Business Park, Billingham, RCC

The property comprises a single storey, brick built detached office building. The property has a net internal floor area of 9,300 sq ft.
The property is located in a well established 'enterprise zone' in Billingham. Billingham is situated approximately four miles north west of Stockton and only one mile from the A19 Trunk Road.

Sale Notes:
The investment comprises a self contained single storey office building. The property is located within a 127,000 sq ft 'enterprise zone', set within 62 acres of landscaped business park.
Offers are sought in excess of £900,000 excluding VAT which reflects an attractive net initial yield of 8.4% and a
reversionary yield in December 2012 of 8.79% after deducting purchaser’s costs of 5.8% and a modest capital value of only £96.77 per sq ft. The property is let to Worley Parsons Europe Ltd on a 12 year FRI lease from 22nd May 2008 expiring 21st May 2020 at a rent of £80,000 pax equating to only £8.60 per sq ft. The rent is subject to 4 yearly rent reviews with the next review being due 22nd May 2012.

A new long leasehold interest for a term of 125 years at a peppercorn rent will be granted from completion.