Minton Place, Station Road, Swindon, Investment / Office, For Sale

Minton Place

TENURE For Sale

SIZE 29,278 sq ft

GUIDE £ Offers in excess of £3,282,085.00

Located on a prominent corner plot, opposite Swindon Railway Station and adjacent to the new bus boulevard, part of the council’s £33m investment into the redevelopment of Fleming Way.
The property extends to 29,278 sq ft, arranged over 5 floors
Let to 8 tenants with a total passing rent of £384,422 pa reflecting a low average rent of £13.06 per sq ft.
WAULT of 2 years, 7 months to expiry, 1 year, 11 months to break
Freehold.
Medium term office refurbishment or residential redevelopment opportunity; planning permission is in place to convert the adjoining office building into 58 flats.
Prime town centre office rents currently stand at £23 per sq ft.
We are instructed to seek offers in excess of £3,282,085 (Three Million Two Hundred Eighty-Two Thousand and Eighty-Five Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 11% and a capital value of £112 per sq ft, assuming purchasers’ costs of 6.48%.
For further information, or if you would like to arrange a viewing please either contact myself or my colleague Ian lambert, on the contact details provided below.