£81.400.000
Confirmation
Mission-Critical European HQ Campus (single let)
Property Details
Broker
For sale
271,153 sq.ft.
25,191 m²TFA
300 £/sq.ft.
3,231 £/m²12.00 %
1
Freehold
Fees
Investment Overview
Mission Critical European HQ Campus single let to Cisco International Limited. Strategically positioned 1.6 miles south of Heathrow Airport and 14 miles west of Central London. Property comprises three buildings totalling 271,153 sq ft: – Building 9 (128,488 sq ft) – Building 10 (81,801 sq ft) – Building 11 (60,864 sq ft). Situated on a substantial site area of 11.90 acres (4.81 hectares) providing a low site coverage of 52%. Total passing rent of £10,449,520 per annum, reflecting £38.54 per sq ft. Two separate straight 10 year FRI leases on Buildings 10 and 11 have recently been agreed, producing a passing rent of £5,405,900 per annum, reflecting £37.89 per sq ft. At Building 9, Cisco have agreed a lease until 23rd June 2026, with a renewal option for up to 4 further years, producing a passing rent of £5,043,620 per annum, reflecting £39.25 per sq ft. £20 million of Landlord capital expenditure committed to the campus, with a further significant investment by Cisco, to create a world-class facility. 1,067 car parking spaces.
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