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Keble House, Southernhay Gardens, Exeter, EX1 1NT
25,735 Sq Ft / Offices
Withdrawn - Last updated: 12 April 2023
Summary
Well Located City Centre Office Investment
Investment Summary
- Well located next to Exeter city centre in established office location
- High specification 1990’s building totalling 25,735 sq ft
- Low base rent of £13.34 per sq ft providing excellent rental growth
- Latest letting agreed at £14.00 per sq ft
- 92% of income secured to Government or very low risk covenants
- WAULT of 5.37 years to expiry and 3.71 years to break
- Offers sought in excess of £4,000,000 subject to contract
- Net initial yield of 8.05% and a reversionary yield of 8.59%
- Low capital value of only £155.49 per sq ft
- Potential for future residential conversion subject to consent
Situation
Southernhay Gardens is Exeters prime office campus providing modern accommodation within attractive landscaped gardens. The area is in close proximity to the Princesshay shopping quarter, the City Centre, as well as the main bus and railway stations.
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