November 18, 2021

FULLY LET OFFICE INVESTMENT ON DERBY’S PREMIER OFFICE PARK PRODUCING AN 8% RETURN

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

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