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The property comprises a high yielding office investment opportunity set within an established business park.
Arranged as a single office unit across ground and first floors, the property is fully let to Four 26 Limited on a lease expiring 21/10/2026 and paying a rent of £10,000 per annum. The lease includes a rent review in October 2023 which we understand is outstanding.
The property forms part of Riverside Estate, an office/business park set within the incredibly popular Medway City Estate. Recent evidence shows the current market rent for office accommodation within the estate may be in the region of £9.00-£10.00 per sq ft which would reflect £11,300-£12,500 per annum.
Tenure
Long Leasehold - 999 years from 1988 at a peppercorn rent
Tenancy
The property is fully let to Four 26 Limited on a lease expiring 21/10/2026 and paying a rent of £10,000 per annum. The lease is on full repairing and insuring terms and includes a rent review in October 2023 which we understand is outstanding.
Rent