Langage One, Plymouth PL7 5BGPosted on February 20, 2018
- Situated on the established Langage Business Park on the eastern edge of the Plymouth/Plympton conurbation.
- Total gross internal area of 121,964 sqft with a low built site cover of 37%, providing good yard depth and ample parking and site circulation.
- Fully let to 5 tenants across 6 units: Smiths News, DX Logistics, Encon Insulation, Amey and Dreams with a WAULT of 7.1 years to expiries and 5.0 years to breaks.
- Total passing rent of £601,280 per annum, reflecting a low average rent £4.93 per sqft, providing an excellent platform for rental growth.
- 89% of income secured to 5A1 tenants.
- Numerous asset management opportunities.
We are inviting offers in excess of £8,050,000 subject to contract and exclusive of VAT. A purchase at this level would reflect a Net Initial Yield of 7.00%, after allowing for purchaser’s costs of 6.67%. This reflects a low capital value figure of £66.00 per sqft.
We are inviting interested parties to submit offers no later than 5pm Tuesday 13th March 2018.