properties

Investment Summary
- Multi-let office building operating as a successful business centre
- Located close to Eastbourne, a thriving tourist destination located on the south coast in East Sussex
- Situated fronting Sovereign Harbour, northern Europe’s largest composite marina complex
- Developed in 2015, the scheme provides flexible, efficient floor plates with excellent natural light
- EPC rating of A
- Excellent car parking ratio of 1:204 sq ft
- The building is divided into separate suites providing self contained office space ranging from 604 sq ft to 4,423 sq ft
- Let to 20 tenants on 23 flexible occupational leases
- Current occupancy rate of 95%
- 85% of the rental income is secured against tenants with undoubted, low or low/moderate risk ratings
- Rent of £425,106 per annum, equating to an average rent of only £16.82 per sq ft

Proposal
Offers are sought in excess of £5,000,000 (Five Million Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a Net Initial Yield of 7.98% after allowing for standard purchaser’s costs of 6.60%. This equates to a capital value of only £189 per sq ft.