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Wynford House , Houndstone Business Park, Yeovil, BA22 8HR

28,637 Sq Ft / Offices

Withdrawn - Last updated: 22 July 2020

Summary

Modern Office Investment Opportunity


Investment Summary


  • Situated directly off Lufton Way, between Lufton Trading Estate and Houndstone Business Park.
  • Modern detached building extending to 28,637 sq ft (2,660.82 sq m) over ground and first floors.
  • Let to NHS Property Services Limited for a term of 22 years from 6 December 2004, with 9.5 years remaining.
  • NHS offers a 5A1 covenant, effectively government income.
  • Passing rent of £XXX (£XXX per sq ft).
  • Very low site coverage of 15% providing future development potential, subject to statutory consent.
  • We are instructed to seek offers in excess of £XXX reflecting an attractive net initial yield of 7.23% assuming normal purchasers costs of 6.61%.

The property is situated directly off Lufton Way, sits in between Lufton Trading Estate and Houndstone Business Park and adjacent to Yeovil Football Club Stadium. The surrounding occupiers comprises a mixture of retail, industrial and leisure uses.

Occupiers include Screwfix HQ, CRS Building Supplies, Howards Car Centre, Kuehne & Nagel, Honeywell, Enterprise rent  car, Ford. The property is approximately 1.5 miles from the town centre.


Tenure


Freehold

VAT


The property is elected for VAT and therefore VAT will be payable on the purchase price. We would anticipate the sale to be dealt with by way of a Transfer of a Going Concern (TOGC).

Initial Yield


7.23%


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