Norwest Court & Guildhall House, Guildhall Street, Preston, PR1 3NU

Preston, PR1 3NU

Sold
Norwest Court & Guildhall House, Guildhall Street, Preston, PR1 3NU
Price £2,345,000
Rent (pa) £271,608
Yield -

Investment Summary

  • NORWEST COURT
  • 8 storey office building providing a total floor area of 24,339 sq ft
  • 4 parking spaces accessed to the rear
  • Majority of accommodation provided with vacant possession with full VP strategy in place
  • Short term development potential to residential uses (subject to prior approval)
  • Two floors let to Pearson Professional Assessments Ltd and Profile Financial Solutions Ltd respectively
  • Each tenancy includes landlord break option subject to 9 months written notice at any time during the term (vacant possession available from August 2025)
  • Current rental income of £66,119 per annum (£10.69 psf)
  • 3 parking spaces provide a further £2,110 per annum
  • Total rental income of £68,229 per annum
  • Long leasehold for a term of 999 years at a peppercorn rent expiring in 2728
  • Offers in excess of £975,000
  • Low Capital Value of £40 psf
  • GUILDHALL HOUSE
  • 5 storey office building providing a total floor area of 20,423 sq ft
  • 16 parking spaces accessed to the rear
  • Current rental income of £192,349 per annum (£9.41 psf)
  • Additional income of £11,030 per annum from licenses for parking spaces
  • Total rental income of £203,379 per annum
  • AWULT of 4.63 years to expiry (2.36 years to breaks)
  • Freehold
  • Offers in excess of £1,370,000
  • Net initial yield of 14.00%
  • Low capital value of £67 psf
Town Preston
Postcode PR1 3NU
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