- Recently regeared Government let office building with 5 years term certain at a rent of £800,000 per annum.
- Prominently positioned on The Waterfront Business Park in the heart of the Black Country within close proximity to the Merry Hill Shopping Centre. Nearby occupiers include Waldrons Solicitors, Dudley College, Adecco, Talbots Solicitors and Higgs & Sons LLP.
- Built in 1992 Castle House and Pedmore House are 3 story “L” shaped office buildings with a bridge link at 1st and 2nd floors providing large open plan floor plates extending to 86,649 sq. ft. with a total of 350 car parking spaces (1:247 sq. ft.)
- EPC rating C.
- Tenant has been in occupation of the property since it was first built and has around 900 employees based on site, they are currently upgrading the internal doors for improved DDA access and also refurbishing the former canteen for break out areas.
- External repairs are fully reclaimable from the tenant via service charge which is paid on account.
Reduced quoting price of £6,750,000 (Six Million Seven Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT reflecting a net initial yield of 11.11% assuming purchasers’ costs of 6.64% and a capital value of £77.90 per sq ft.
