Agent Details

Richard Dunn

Sanderson Weatherall

2 And 3 Dronfield Court, Wards Yard, Dronfield, Derbyshire

4405 SqFt

Freehold


Freehold £460,000

Description

* Freehold
* Fully Let Investment Opportunity
* 4,405 sq ft
* On-site car parking
* Closely located to the High Street
* Excellent Transport Links


LOCATION
The properties are located within a courtyard development known as Dronfield Court, adjacent to the Civic Centre Shopping Precinct within the town centre of Dronfield. The immediate surrounding area is commercial in nature with nearby occupiers including Poundstretcher, Yorkshire Building Society, Betfred and Clinton Cards. Dronfield Medical Practice and Dronfield Sports Centre a located a short distance west of the property.

The property is situated 0.5 miles away from Dronfield Railway Station, with a number of different bus routes running past the property. Dronfield Nature Park is within very close walking distance and offers a beautiful open space.


DESCRIPTION
The property comprises two inner terrace office buildings constructed in the late 1980's as part of a courtyard scheme. The buildings are arranged on ground and first floors in a landscaped setting with additional car parking, with 10 spaces allocated for units 2 and 3. The offices are attractively clad in Derbyshire stone beneath pitched slate tiled roofs.

Internally, the properties benefits from the following specification:
- Combination of Cat II and LED Lighting
- Carpeted throughout
- Suspended ceilings
- Gas fired central heating system
- Open plan with integrated partitioned meetings room
- Kitchenette
- WC facility on both floors


TENURE
The property is available on a Freehold basis subject to the existing tenancies. Further information can be found in the marketing brochure.


INVESTMENT SUMMARY
- Recently let on new leases
- Two inner terrace office buildings totalling approx. 4,405 sq ft Net Internal Area.
- Weighted Average Unexpired Lease Term - 6 years 8 months (to expiry).


PROPOSAL
We are seeking offers in the region of £460,000 for the freehold interest, subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 8.16% allowing for purchaser's costs of 4.52%.
- The quoting price reflects a capital value of just £104.43 psf.


VAT
All figures quoted are deemed to be exclusive of VAT.


MONEY LAUNDERING
In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.

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