South West Water Ltd

The property comprises a circa 1990 purpose-built detached office building. It provides two floors of office accommodation, arranged in two wings at right angles to one another with a central entrance/reception area with atrium and ancillary toilet accommodation on both floors. There is car parking at front and rear with 94 marked spaces, providing an excellent parking ratio of 1:196 sq ft.

The building is of steel frame construction with facing brick walls with powder coated aluminium windows and doors. The roof is finished with fibre cement slates. The space is of good quality including suspended ceilings with air conditioning, strip fluorescent lighting, raised carpeted floors, wall mounted radiators, gas fired central heating (two boilers), double glazed windows and an 8-person passenger lift.

• Situated within an established mixed commercial location in St Austell
• Detached building totalling 18,434 sq ft (1,712.6 sq m) NIA
• 94 car parking spaces (1:196 sq ft)
• Freehold
• Let on a 15 year unbroken lease from completion
• FRI terms subject to a schedule of condition
• Undoubted covenant of South West Water Ltd (D&B rating 5A1)
• Rent of £150,000 per annum reflecting a low base rent of £8.14 per sq ft overall
• 5 yearly CPI rent reviews (2-4% cap and collar)
• Seeking offers in excess of £2,236,000 (Two Million Two Hundred and Thirty Six Thousand Pounds) reflecting a net initial yield of 6.25% assuming purchasers’ costs of 7.33%
• Low capital value of only £121 per sq ft