12,540 ft² Modern office investment let to BUPA at £163,000 pa

Modern three storey detached office building
Located on a prime business park between M4/M5 interchange
Occupying an elevated plot and visible from adjacent M4 motorway
9,991 sq.ft (928m2) refurbished offices over three floors
Let to Oasis Healthcare Ltd under 10-yr lease from 13th October 2018
Rent Passing – £162,921 pa (£16.30/sq.ft)
ERV – £185,000 (£18.50/sq.ft)
Reflects an initial yield of 5.1% and equivalent yield of 5.854%

Enquire

description

The property comprises a detached building constructed in 2008 of brick under a pitched tiled roof.

It occupies an elevated position opposite the entrance to Vantage Business Park and is visible from the nearby M4

The newly refurbished office accommodation is arranged over three floors served by a central stair and lift core.

location

Vantage Office Park is located off Old Gloucester Road (B4427) near its junction with Winterbourne Road (B4057) in North Bristol approximately 1.2 miles from Winterbourne and 1.3 miles from Parkway railway station.

There is a new Farmhouse Inn opposite and there are various local leisure and retail facilities within a few miles drive including Virgin Active, Bradley Stoke Leisure Centre and Willow Brook Shopping Centre anchored by a Tesco Extra.

tenancy

The property is let under a 10-year FRI lease with rent reviews at five-yearly intervals and tenant only break clause at year 5 requiring not less that nine months’ notice.

tenant

The property is let to Oasis Healthcare, a subsidiary of BUPA . For the year ending December Oasis had a net worth of £17.68m and an Experian score of 87/100 with a credit limit of £3.7m.

proposal

We are instructed to seek offers over £3m. VAT is applicable to the purchase price.