Modern Multi-Let Business Park Investment Opportunity

Turnstone Business Park Mulberry Avenue, Widnes , WA8 0WN

Ref 14639

Category Invest

Type Office

Status Under Offer

Price/Rent £ 2,715,000

Size 1 - 51,778 sq ft
(0 - 4,810 sq m)

  • Modern well specified office business park investment opportunity offering 51,778 sq ft situated within ½ mile of Widnes town centre.
  • Strategically located between Manchester and Liverpool benefitting from excellent motorway connections to both the M62 (junction 7) and M56 (junction 12).
  • Turnstone is recognised as the prime office park for the town and has attracted tenants including Edmundson Electrical, Boulting Group, GMB Trade Union, Evolve Facilities Services and PD Law.
  • Let off low base rents offering potential for future growth.
  • Current passing rental of £252,842 pa reflecting £10 psf with and an ERV currently in the order of £277,362 pa at only £11 psf.
  • £3,000p.a of ground rent income from units sold long leasehold to owner occupiers with potential to complete additional sales.
  • We are instructed to seek offers in excess of £2,715,000 (Two Million Seven Hundred and Fifteen Thousand Pounds) which reflects a net initial yield of 8.75%, assuming standard purchase costs of 6.4%. This represents a low capital value of approximately £108 per square foot and a reversionary yield of 9.6%.