Eagle Tower, Montpellier Drive, Cheltenham
89,050 sq ft
Description
• Prominent town centre office building within Cheltenham Town Centre with exceptional views.
• Opportunity to acquire the freehold interest of multi let town centre office accommodation arranged over 15 storeys and totalling 89,050 sq ft.
• Recently refurbished office accommodation with suites ranging from 150 sq ft to 7,000 sq ft.
• Currently producing a gross income of £2,495,635 per annum equating to a net income of £1,796,015 per annum with further opportunity to increase the lease and licence revenue currently being achieved.
• Opportunity for investor to secure income by converting existing licenses to long term leases.
• Exceptional occupancy rate of 97.5%.
• Historic permitted development consent for 144 residential apartments.
• EPC of C 64 - Meets the potential Interim Minimum Energy Efficiency Standards that are due to be implemented in 2028.
We are instructed to seek offers in excess of £15,000,000 (Fifteen Million Pounds). A purchase price at this level reflects a Net Initial Yield
of 11.22% and a capital value of £168 per sq ft, assuming purchasers costs at 6.73%.
• Opportunity to acquire the freehold interest of multi let town centre office accommodation arranged over 15 storeys and totalling 89,050 sq ft.
• Recently refurbished office accommodation with suites ranging from 150 sq ft to 7,000 sq ft.
• Currently producing a gross income of £2,495,635 per annum equating to a net income of £1,796,015 per annum with further opportunity to increase the lease and licence revenue currently being achieved.
• Opportunity for investor to secure income by converting existing licenses to long term leases.
• Exceptional occupancy rate of 97.5%.
• Historic permitted development consent for 144 residential apartments.
• EPC of C 64 - Meets the potential Interim Minimum Energy Efficiency Standards that are due to be implemented in 2028.
We are instructed to seek offers in excess of £15,000,000 (Fifteen Million Pounds). A purchase price at this level reflects a Net Initial Yield
of 11.22% and a capital value of £168 per sq ft, assuming purchasers costs at 6.73%.
BUILDING HIGHLIGHTS
Prominent town centre office building
Exceptional occupancy rate of 97.5%
Arranged over 15 storeys
Totalling 89,050 sq ft
