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Investment News
FHP Property Consultants are pleased to offer to market an excellent office investment situated on Pride Park, Derby. Following the recent letting of the ground floor, 1 Pride Point Drive is now fully let and comprises two tenants producing an annual income of £75,750.
The property comprises a two storey self-contained detached office building set within a well maintained shared site with 21 parking spaces. The accommodation totals 557m² (5,995ft²). Part of the ground floor has recently been let to ICP Nurseries on a 5 year lease. The remainder of the building is occupied by Exponent International who have a lease expiring in 2026.
The investment is on the market at a quoting price of £900,000 reflecting a net initial yield of 8.0% after the usual purchasers’ costs.
Darran Severn of FHP Property Consultants, comments:
“I am pleased to offer this opportunity to market. We have successfully renewed the lease with Exponent International and have also secured a letting to ICP Nurseries, creating this opportunity. Pride Park is Derby’s premier office location and at 8% this is also underpinned by vacant possession values of circa £150 – £160 per sq ft.
I look forward to speaking with interested parties.”
For further information or to arrange a viewing, please contact Darran Severn on 07914 460 031 / darran@fhp.co.uk.
ENDS
Darran Severn
November 2021