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Eagle Tower Montpellier Dr 107,904 SF 100% Leased Office Building Cheltenham GL50 1TA $27,932,306 CAD ($258.86 CAD/SF) 11.22% Cap Rate
INVESTMENT HIGHLIGHTS
- Multi let town centre office building
- Historic permitted development consent for 144 residential apartments
- Accommodation arranged over 15 storeys and totalling 89,050 sq ft
- Recently refurbished office accommodation with suites ranging from 150 sq ft to 7,000 sq ft
EXECUTIVE SUMMARY
Offers sought in excess of £15,000,000 (Fifteen Million Pounds) subject to contract and exclusive of VAT.
A purchase at this level reflects a net initial yield of 11.22% and a capital value of £168 per sq ft assuming purchasers costs of 6.73%.
Currently producing a gross income of £2,495,635 per annum equating to a net income of £1,796,015 per annum with further opportunity to increase the lease and licence revenue currently being achieved.
A purchase at this level reflects a net initial yield of 11.22% and a capital value of £168 per sq ft assuming purchasers costs of 6.73%.
Currently producing a gross income of £2,495,635 per annum equating to a net income of £1,796,015 per annum with further opportunity to increase the lease and licence revenue currently being achieved.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
107,904 SF
Building Class
B
Year Built
1969
Price
$27,932,306 CAD
Price Per SF
$258.86 CAD
Cap Rate
11.22%
NOI
$3,134,005 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
16 Stories
Typical Floor Size
7,000 SF
Building FAR
0.67
Lot Size
3.71 AC
AMENITIES
- 24 Hour Access
- Controlled Access
- Concierge
- Conferencing Facility
- Property Manager on Site
- Restaurant
- Security System
- Kitchen
- Bicycle Storage
- DDA Compliant
- Demised WC facilities
- Direct Elevator Exposure
- Natural Light
- Food Service
- Partitioned Offices
- Reception
- Drop Ceiling
- Wi-Fi
- Air Conditioning
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Eagle Tower | Montpellier Dr
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