2 Venture Ct
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2 Venture Ct
14,900 SF 100% Leased 4-Star Office Building Wolverhampton WV10 6TB $5,137,023 CAD ($345 CAD/SF) 8.09% Cap Rate
Investment Highlights
- Freehold two storey office building constructed in 2002.
- Fully let to three strong covenants producing £245,500 pax.
- 69 marked car spaces providing a ratio of 1:216 sq ft.
- ERV of £267,158 pax.
Executive Summary
Proposal
£2,850,000 (Two million eight hundred and fifty thousand pounds) is sought for the Freehold interest. An acquisition at this level would reflect a net initial yield of 8.09% after allowing for purchaser’s costs of 6.43%.
Ground Floor - King & Moffatt UK Ltd – Lease start 09/05/2022 – Lease Expiry 08/05/2027 – Rent PA £120,200 – ERV £133,579
King & Moffatt Building Services are award winning Mechanical & Electrical Contractors who have been in business for over 45 years, operating throughout Ireland, the United Kingdom and Mainland Europe, with an annual turnover in the region of €150 million (see kingmoffatt.com).
Part First Floor - SGS United Kingdom Ltd – Lease start 23/03/2023 – Lease Expiry 22/03/2033 – Break Date 23/03/2028- Rent Review 23/03/2028 - Rent PA £90,500– ERV £98,579
SGS are the world's leading testing, inspection and certification company. They are recognized as the global benchmark for sustainability, quality and integrity, with 97,000 employees operate a network of 2,650 offices and laboratories (source: www.sgs.com).
Part First Floor - Newstead Clark Financial Services – Lease start 07/09/2024 – Lease Expiry 06/09/2030 – Break Date 06/09/2027- Rent PA £35,000– ERV £35,000 – Recently renewed lease equating to £17.93 psf
Newstead Clark are an independent financial advisory firm with over 15 years of experience and expertise, having offices in Wolverhampton & Birmingham city centre (see newsteadclark.co.uk). Newstead Clarke have recently committed to a new lease of £35,000 PER ANNUM at the property
£2,850,000 (Two million eight hundred and fifty thousand pounds) is sought for the Freehold interest. An acquisition at this level would reflect a net initial yield of 8.09% after allowing for purchaser’s costs of 6.43%.
Ground Floor - King & Moffatt UK Ltd – Lease start 09/05/2022 – Lease Expiry 08/05/2027 – Rent PA £120,200 – ERV £133,579
King & Moffatt Building Services are award winning Mechanical & Electrical Contractors who have been in business for over 45 years, operating throughout Ireland, the United Kingdom and Mainland Europe, with an annual turnover in the region of €150 million (see kingmoffatt.com).
Part First Floor - SGS United Kingdom Ltd – Lease start 23/03/2023 – Lease Expiry 22/03/2033 – Break Date 23/03/2028- Rent Review 23/03/2028 - Rent PA £90,500– ERV £98,579
SGS are the world's leading testing, inspection and certification company. They are recognized as the global benchmark for sustainability, quality and integrity, with 97,000 employees operate a network of 2,650 offices and laboratories (source: www.sgs.com).
Part First Floor - Newstead Clark Financial Services – Lease start 07/09/2024 – Lease Expiry 06/09/2030 – Break Date 06/09/2027- Rent PA £35,000– ERV £35,000 – Recently renewed lease equating to £17.93 psf
Newstead Clark are an independent financial advisory firm with over 15 years of experience and expertise, having offices in Wolverhampton & Birmingham city centre (see newsteadclark.co.uk). Newstead Clarke have recently committed to a new lease of £35,000 PER ANNUM at the property
Property Facts
Sale Type
Investment
Property Type
Office
Tenure
Freehold
Building Size
14,900 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2002
Price
$5,137,023 CAD
Price Per SF
$345 CAD
Cap Rate
8.09%
NOI
$415,585 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
7,450 SF
Parking
69 Spaces (4.63 Spaces per 1,000 SF Leased)
Amenities
- Raised Floor
- Accent Lighting
- Air Conditioning
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