2 -4 Pitfield, Kiln Farm, Milton Keynes, South East, MK11 3LW

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2 -4 Pitfield, Kiln Farm, Milton Keynes, South East, MK11 3LW

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Agent's Details

Mathew Rogers

T: 07940 706011

Mark Frampton

T: 07769 931761

For Sale £7,500,000 Offers in excess of

THREE MEES COMPLIANT HQ OFFICES LOCATED WITHIN THE OXFORD-CAMBRIDGE ARC
4.80 ACRES WITH STRONG UNDERLYING INDUSTRIAL LAND VALUE

Located at the centre of the Oxford, Milton Keynes & Cambridge Arc

Situated within the established industrial district of Kiln Farm and less than 3 miles to the centre of Milton Keynes

The Milton Keynes Office Market has a c.3.5% Grade A Vacancy Rate

Currently MEES compliant with EPC ratings of B and C

Three prominent campus style HQ offices totalling, 52,903 sq ft (4,914.80 sq m), set within a 4.80 acre site

Let to two established tenants, who are both headquartered here

Rockwell Automation have been in occupation for over 15 years

Large car park providing an excellent parking ratio of approximately 1:289 sq ft

WAULT of 3.59 years to expiry

Passing rent of £843,500 per annum, equating to only £15.93 per sq ft a 40%+ discount to prime office rents

Freehold

The 4.80 acre regular shaped site, could allow for future industrial re-development with industrial land values in excess of £1.3m per acre

We are instructed to seek offers in excess of £7,500,000 (Seven Million, Five Hundred Thousand Pounds), subject to contract and exclusive of VAT.

A purchase at this level reflects an attractive Net Initial Yield of 10.52%, a very low capital value of £141 per sq ft and £1.562m per acre after purchaser's costs of 6.80%