General Electric, Boughton Road, Rugby CV21 1BU

Rugby, CV21 1BU

Sold

Price £4,000,000

Rent (pa) £462,000

Yield 10.84%

Investment Summary

Opportunity to acquire a single let HQ office building with reversionary development potential
3 storey office totalling 86,983 sq ft sitting on a large site of 6.17 acres
Low site coverage of 19%
Excellent location 2 miles north of Rugby town centre in Warwickshire, off junction 1 of the M6
Let for a term of 5 years commencing 1st January 2018, expiring 31st December 2022 (1.93 years unexpired), and contracted out of the L&T Act 1954
Let to GE Energy Power Conversion UK Limited, a subsidiary of General Electric
Potential redevelopment for residential on expiry of the lease (STP)
Current rent of £462,000 per annum (just £5.31 psf)
Offers in excess of £4,000,000 (STC)
Net Initial Yield of 10.84%
Low capital value of just £46 psf
£648,000 per acre