For Sale

9 Millennium Way, Springvale Business Park, Belfast, BT12 7AL

Offers in the region of

£3,450,000

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Photo 1 of 5

Office

C 58

EPC Rating

Location of 9 Millennium Way

The property is situated in Springvale Business Park on Millennium Way. The surrounding area is mainly manufacturing and residential in use. Neighbouring occupiers include Caterpillar, Andor Technology & Belfast Metropolitan College. The tenant is a major employer in the local area.

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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%.

description

The property comprises an office building unit of steel portal frame construction with part brick and part profile metal clad elevations and a pitched roof with translucent roof panels.

Internally, the property provides four large rooms of open plan office accommodation, which are used as call centres, as well as a number of smaller ancillary offices and training rooms. There is a modern reception area and a canteen with a commercial kitchen. The open plan offices benefit from raised carpeted floors together with suspended ceilings with recessed fluorescent box lighting. The smaller offices have perimeter trunking in part. There is an 8-person (630kg) lift.

Externally there is car parking for approximately 200 cars.