features
- The property is situated in Springvale Business Park on Millennium Way in Belfast.
- Comprises a self-contained call centre / office building totalling 32,778 sq ft with approximately 200 car parking spaces.
- The property is entirely let to Concentrix CVG Intelligent Contact Limited at a current rent of £330,000 per annum, increasing to £364,346 in June 2022.
- Let off a low rent of c.£10.00 per sq ft.
- Concentrix CVG Intelligent Contact Limited provides an Experian rating of 100/100 which reflects ‘Very Low Risk’.
- Leased until 31st May 2027 (c.6.35 years unexpired).
- Concentrix’s commitment to the location is demonstrated by taking a reversionary lease until May 2027.
- The site extends to 2.20 acres (0.89 hectares).
- The property is held long leasehold for a term of 999 years from 1999 at a nominal ground rent of £1 per annum.
- We are instructed to seek offers in the region of £3,450,000 (Three Million Four Hundred and Fifty Thousand Pounds) for our clients long leasehold interest, excluding VAT.
- A purchase at this level would reflect an attractive net initial yield of 9.00% and a reversionary yield in June 2022 of 9.91%, assuming purchasers costs of 6.50%.