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Blue Chip Office Investment, Royal Mail Admiral House, 2 Admiral Way, Sunderland, SR3 3XW
36,350 Sq Ft / Offices
Withdrawn - Last updated: 19 April 2021
- Prominently located on the established Doxford International Business Park, Sunderland's premier commercial estate.
- High quality office accommodation benefitting from significant tenant's improvements, providing 36,350 sq ft over three floors with high parking ratio of 1 space to 300 sq ft.
- Superb transport connections to the A19 and wider region, with 11 bus routes serving the estate.
- Fully let on FRI terms to the Royal Mail Group Ltd for 10 years from 16 November 2012, with a tenant's break option on 15 November 2017.
- Low rent passing of £390,000 per annum, equating to £10.73 per sq ft.
- Excellent value-add potential through re-negotiating tenant's break option and extending term certain.
- Offers sought at £4,100,000 (Four Million One Hundred Thousand Pounds) reflecting a net initial yield of 9% after standard purchaser's costs of 5.8%
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