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News

Investment Sale Completed – Beacon House, Northumberland Road, Portsmouth

Thursday 9 July 2020

We are pleased to have advised the owner on the sale of Beacon House, Northumberland Road, Portsmouth. The property comprises a purpose built, semi-detached three storey office building with a NIA of 4,776. Internally, the accommodation is configured as nine interlinked suites which are capable of being occupied together or separately. Each suite has its own entrance and WC facilities. In total the property benefits from 24 designated car parking spaces (1:199 sq ft).

 

There are nine tenants paying a total rent of £49,250 per annum and we managed to agree a price of £520,000 for the long leasehold interest, which reflected a net initial yield of 9.04% after purchaser’s costs of 4.8%.

 

For further information, please contact:

Sebastian Martin

E: s.martin@flude.com

T: 023 9262 9007