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Building 4 Forge Ln 17,560 SF Office Building Stoke On Trent ST1 5RQ $3,272,961 CAD ($186.39 CAD/SF) 12.13% Cap Rate
Investment Highlights
- Detached modern office building
- Prominent business park position
- Large 1.16 acre site
Executive Summary
The entire property is let to DPDGroup UK Ltd on a 15 year lease expiring 31.01.2032. The current passing rent is £225,500 reflecting a low £12.56 psf. There is a tenant’s break option in January 2028 on 6 months notice. If the tenant doesn’t operate the break they benefit from one year at half rent. The tenant has been in occupation at Festival Park for over 20 years and took full occupation of the building in 2017. They have a logistics hub directly opposite.
The property is held Long Leasehold for a term expiring November 2157 (131 years unexpired) from November 2007 at a ground rent of a peppercorn. The Landlord is Stokeon-Trent Regeneration Limited.
The property is held Long Leasehold for a term expiring November 2157 (131 years unexpired) from November 2007 at a ground rent of a peppercorn. The Landlord is Stokeon-Trent Regeneration Limited.
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
17,560 SF
Building Class
B
Year Built
2007
Price
$3,272,961 CAD
Price Per SF
$186.39 CAD
Cap Rate
12.13%
NOI
$397,010 CAD
Tenancy
Single
Building Height
2 Stories
Typical Floor Size
8,780 SF
Building FAR
0.40
Lot Size
1.00 AC
Parking
37 Spaces (2.11 Spaces per 1,000 SF Leased)
Amenities
- Air Conditioning
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Building 4 | Forge Ln
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