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Dean Clarke House 1 Southernhay Gdns 4,250 SF 100% Leased Office Building Exeter EX1 1SG $1,213,675 CAD ($285.57 CAD/SF)
Investment Highlights
- Manned reception lobby with concierge services
- Shared shower facility
- Meeting / boardroom facility
- Connection to a network of members and users
- 24/7 access available via electronic door fob system
- Communal courtyard garden and secure terrace
Executive Summary
We are instructed to seek offers with a guide of £650,000 ( + VAT ) which reflects an initial yield of 13.61% on the existing gross income ( before deducting management costs for the serviced office space ) after allowance for purchaser`s costs of 5.18%. This equates to a capital of £153 psf. The rental income potential will increase depending upon the letting strategy adopted, either for traditional leases or flex space. Assuming the remaining suites are let on a serviced basis the potential gross rents receivable will increase from £93,020 per annum to £132,620 per annum assuming a per desk rate of £275 pcm. Management costs are currently circa £35,000 per annum.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Long Leasehold
Building Size
4,250 SF
Building Class
B
Year Built/Renovated
1742/2013
Price
$1,213,675 CAD
Price Per SF
$285.57 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
5 Stories
Typical Floor Size
850 SF
Building FAR
0.16
Lot Size
0.61 AC
Parking
4 Spaces (0.94 Spaces per 1,000 SF Leased)
Amenities
- Security System
- Storage Space
- Common Parts WC Facilities
- Natural Light
- Reception
- Wi-Fi
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Dean Clarke House | 1 Southernhay Gdns
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