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The Blog
Acquisition of Office Investment Nottingham – 2 Millennium Way West, Phoenix Business Park, Nottingham
Wednesday 23rd March, 2016
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Let to Edmond Shipway LLP until March 2018 on a lease outside of the security of tenure provisions of the 1954 Landlord & Tenant Act.
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Artificially low/highly reversionary rent of just £29,000 pa (£5.10 psf)
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5,701 sq ft Grade A 2 storey office with exceptional car parking
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Purchase price £550,000 representing a very low capital value of just £96 psf
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Net initial yield 5%, revisionary yield 12.7%
