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Vertu HQ, Beacon Hill Road, Fleet , GU52 8DY
not specified / Offices
Withdrawn - Last updated: 15 April 2023
Fleet is currently benefiting from strong rental growth driven by occupiers priced out of Central London. Highly specified, headquarters investment totalling 52,071 sq ft.Excellent car parking ratio of 1:219 sq ft. Large site with future development potential.Let to Microsoft UK Ltd (D&B Rating of 5A1) with 7.3 years term certain.Overall rent of 15.04 psf providing a low base for future rental growth.The occupier has contractually agreed to waive their option to break the lease in 2020. Estimated rental uplift to 875,000 pa at 2019 review. Offers are sought in excess of 10,000,000 (Ten Million Pounds), subject to contract and exclusive of VAT. Attractive net initial yield of 7.34% and low capital value of 192 psf. Based on the estimated rental uplift, the yield improves to 8.20% in 2019.
Location
Vertu HQ, Beacon Hill Road, Fleet , GU52 8DY, Hampshire, South East
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