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St Georges Tower St Georges St 15,574 SF Vacant Office Building Isle Of Man IM1 1AQ $5,486,741 CAD ($352.30 CAD/SF) 8.73% Cap Rate

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INVESTMENT HIGHLIGHTS

  • Good location
  • On site parking
  • Income generating
  • Top floor has access to a private roof terrace providing panoramic views over the surrounding countryside.

EXECUTIVE SUMMARY

An opportunity has arisen to purchase this freehold prime office building occupying a prominent position in the main financial and office area in Douglas. Current rent of £48,243 per annum with an additional potential rent of £209,306 per annum following the leasing of the vacant floors and 10 car parking spaces. Total passing and potential rent £257,549 per annum.

PROPERTY FACTS

Sale Type
Investment or Owner User
Property Type
Office
Tenure
Freehold
Building Size
15,574 SF
Building Class
B
Year Built
2010
Price
$5,486,741 CAD
Price Per SF
$352.30 CAD
Cap Rate
8.73%
NOI
$478,993 CAD
Percent Leased
Vacant
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
3,894 SF

AMENITIES

  • Raised Floor
  • Central Heating
  • Demised WC facilities
  • Direct Elevator Exposure
  • Reception
  • Drop Ceiling
  • Air Conditioning

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • CONDITION
  • AVAILABLE
  • 1st Floor
  • 3,334 SF
  • Office
  • Full Build-Out
  • Now

3334 sf of office space available to let with immediate vacant possession on a fully repairing and insuring basis for a term to be agreed at £22 sf.

  • 2nd Floor
  • 3,243 SF
  • Office
  • Full Build-Out
  • Now

3243 sf of office space available to let from May 2023 on a fully repairing and insuring basis for a term to be agreed at £22 sf.

  • 3rd Floor
  • 2,346 SF
  • Office
  • Full Build-Out
  • Now

2346 sf of office space available to let from May 2023 on a fully repairing and insuring basis for a term to be agreed at £22.50sf.

Space Size Space Use Condition Available
1st Floor 3,334 SF Office Full Build-Out Now
2nd Floor 3,243 SF Office Full Build-Out Now
3rd Floor 2,346 SF Office Full Build-Out Now

1st Floor

Size
3,334 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

2nd Floor

Size
3,243 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

3rd Floor

Size
2,346 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

1st Floor

Size 3,334 SF
Space Use Office
Condition Full Build-Out
Available Now

3334 sf of office space available to let with immediate vacant possession on a fully repairing and insuring basis for a term to be agreed at £22 sf.

2nd Floor

Size 3,243 SF
Space Use Office
Condition Full Build-Out
Available Now

3243 sf of office space available to let from May 2023 on a fully repairing and insuring basis for a term to be agreed at £22 sf.

3rd Floor

Size 2,346 SF
Space Use Office
Condition Full Build-Out
Available Now

2346 sf of office space available to let from May 2023 on a fully repairing and insuring basis for a term to be agreed at £22.50sf.

  • Listing ID: 29287907

  • Date on Market: 2023-08-16

  • Last Updated:

  • Address: St Georges St, Isle Of Man IM1 1AQ

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