Multi-Let & Reversionary Scheme in Bracknell

Property totals 66,396 sq ft and has undergone refurbishment works totalling approximately £1.4 million over the last 24 months, including; reception modernisation works; a re-designed garden and terrace; various on-floor and air conditioning refurbishment works; WC and shower refurbishments; fibre backbone installation; new LED lighting, and solar panel installation at roof level. Total rental income of £1,181,731 per annum and is let off a highly reversionary average rent of £26.07 per sq ft– the rents range from £20.99 to £30.30 per sq ft. The majority of the current vacancy (32% / 21,242 sq ft) is ‘new and unrefurbished’ vacancy with the previous tenants having vacated in the last 3 months. There are leasing proposals from occupiers on all the vacant space offering a short-term route to 100% occupancy. Strong leasing momentum with 41% / 27,519 sq ft let or place under offer in the last 12 months across five deals and proposals from occupiers on all the vacant space offering a short-term route to 100% occupancy. Highly flexible floorplates averaging 13,150 sq ft with a central core and readily divisible into multiple smaller suites to meet the most active occupier demand. A proven Cat A + rental premium and a mix of Plug & Play and Cat A accommodation. Overall WAULT of 5.7 years to expiry and 3.9 years to break. 298 car parking spaces providing an attractive car parking ratio of 1:223 sq ft.