Overview
Description
Location
An opportunity to buy a virtual freehold investment with a new lease to a longstanding tenant, in the popular business district of Chandlers Ford. The property comprises a three-storey self-contained office building with modern, predominantly open plan accommodation and WCs on each floor. There are kitchenette facilities.
The premises benefit from LED lighting, air conditioning, gas central heating, perimeter trunking, raised access flooring and 9 car parking spaces, with tenants able to lease more from the business park if required.
The premises is let to Unilink Software Limited on a new 10-year lease from 2nd July 2025, expiring 1st July 2035, at a rent of £33,600 per annum. There is a tenant-only break option on 2nd July 2030 subject to a break penalty of £8,400. The lease is on full repairing and insuring terms. The rent is subject to an upwards-only review on 2nd July 2030. The lease is available to review upon request.
The tenant offers a very good covenant, with a Credit Safe Risk Score of 95 (placing it in the upper quartile of 7,971 comparable companies) and an International Score of 'A' (very low risk).
Summary
Key points
- 7.72% Gross Initial Yield
- Longstanding Tenant
- 10 Year Lease with 5 Year Break Clause (Subject to Break Penalty)
- Modern Office
- Popular Office Location
Contact
Keygrove Chartered Surveyors
Tel: 023 8083 5962
James Allen
ja@keygrove.com
EPC
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