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Rapier House

Office for sale

£1,800,000 8,253 sq ft

SBH Page & Read
View the performance or update the listing in CoStar
Contact name

Cliff Bonnett - SBH Page & Read

Full address
4-6 Crane Mead Rd, Ware SG12 9PW – Ware
Highlights
  • Building is situated just to the south of the Town Centre within an attractive estate
  • Excellent natural light
  • Vaulted ceiling with feature lighting
Property type

Office for sale Search all

Asking price
£1,800,000
Available space range
There is 1 space available. This measures 8,253 sq ft.
Features
Kitchen, Natural Light, Open-Plan
Brochure
Download the brochure

Sale details

Sale unit 4014092 Available

8,253 sq ft, £218.10 per sq ft

Unit Sale unit 4014092
Address 4-6 Crane Mead Rd, Ware, Hertfordshire, SG12 9PW, GB
Size 8,253 sq ft
Price £1,800,000
Price per unit £218.10 per sq ft
Unit Sale unit 4014092
Address 4-6 Crane Mead Rd, Ware, Hertfordshire, SG12 9PW, GB
Size 8,253 sq ft
Price £1,800,000
Price per unit £218.10 per sq ft
Sale type Investment
Tenure Freehold
Net income yield 5.44%
Financial type Actual
Financial year 2018
Net operating income £97,850

Sale notes

  • The offices have been fitted out to a high standard and provide excellent natural light with the first floor having a vaulted ceiling with feature lighting.
  • The building has gas fired central heating throughout and new air conditioning units to the first floor which provide cooling and heating.
  • There are 21 car parking spaces arranged around 3 sides of the building.
  • The entire building is let to rapier design ltd for a term expiring 31 december 2026 on a full repairing and insuring basis at a current rent of £100,000 per annum exclusive, subject to upward only review on 1 july 2023. there is a tenant only break option on 1 july 2023 subject to 6 months prior notice.
  • The lease is inside the landlord and tenant act 1954. part of the ground floor has been sub-let to dellar davies ltd for term expiring 31 december 2019 outside the landlord and tenant act 1954 at a rent of £30,000 pa inclusive.
  • The building is to be sold with the benefit of the lease referred to above or with full vacant possession for owner occupation.
  • The sale will be by way of shares in the company whose only asset is the freehold interest in the building.
  • As such, no vat will be payable on the sale price.
  • We are quoting a price of £1.9 million, which as an investment would show an investor a net initial yield of 5.15% after purchasers costs of 2%.
  • At this figure an owner occupier would benefit from a low capital value of £230 per sq ft.

Property description

Rapier House is a detached 2-storey office building with attractive brick elevations and double glazed windows under a pitched roof. The building provides largely open plan office space with several meeting rooms, staff rooms/kitchen and WC’s. Ware is an attractive Town in east Hertfordshire accessed from the A10 which runs from London to Cambridge and the A414 which provides access east to Harlow (M11) and Hatfield (A1M) in the west via Hertford. Ware station provides services to Hertford East to the north and Liverpool Street London via Tottenham Hale (Victoria Line). The building is situated just to the south of the Town Centre within an attractive estate. Ware station and all local amenities including the Premier Inn Hotel and numerous pubs and cafes are within walking distance.

Number of storeys
2
Parking ratio
2.54
Rentable building area
8,253 sq ft
Year built
2002

Attachments

PDF #1 Marketing brochure/flyer Download

This office for sale is located in Ware.

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Disclaimer. Property descriptions, images and related information displayed on this page are based on marketing materials found on the website registered to SBH Page & Read. Realla does not warrant or accept any responsibility for the accuracy or completeness of the property descriptions or related information provided here and they do not constitute property particulars. Please contact SBH Page & Read for full details and further information.