Acorn House, Isleport Business Park, Highbridge, TA9 4JU

Summary

Modern open plan office accommodation

Location

Highbridge is a market town in Somerset, sitting 15 miles north east of Taunton. The town benefits from its close proximity to the M5 motorway, accessed via Junction 22, linking Bristol (20 miles north east) and Exeter (40 miles south west). Highbridge closely neighbours the busyseaside town of Burnham-On-Sea and together they form a secondary administrative and commercial centre of Sedgemoor District. The town is served by Highbridge and Burnham railway station, situated on the Bristol to Exeter Line and both Bristol and Exeter have international airports.

Terms

• Unit 1 is sold with vacant possession.
• Unit 2 is let to Manpower UK Ltd for a term of 15 years from 19 February 2010. The passing rent is £92,439 per annum which equates to a low level of £5.27 psf. The property has an outstanding rent review and the landlord has initially quoted a revised rental of £131,500 per annum which equates to £7.50 psf.
• There is a tenant break clause on 23 June 2018 and 19 February 2022 subject to 6 months’ prior written notice, under a deed of variation dated 1 July 2015.

Invetsment Summary

• Established business location
• Easy access to M5 less than 1 mile
• Modern open plan office accommodation with air cooling, suspended ceiling and raised flooring
• Freehold
• Unit 1 offered with VP to suit either an owner occupier or presenting asset management opportunities
• Unit 2 Passing rent of £92,439 Opportunities to add value through outstanding review
• High quality covenant to Manpower on c.60% of occupancy
• Offers are sought in excess of £1,250,000 subject to contract and exclusive of VAT
• Low Capital Value of £44.83 psf