XCHANGING HOUSE FESTIVAL BUSINESS PARK ENDEAVOUR DRIVE BASILDON SS14 3WF
Neville Pritchard
Director, National Investment (Capital Markets) at Jones Lang LaSalle
We are instructed to market this well located asset offering opportunities for occupancy or redevelopment for industrial/trade/logistics uses, subject to the necessary consents, and look forward to hearing if it is of interest!
INVESTMENT SUMMARY
? Located 1 mile north of Basildon Town Centre, close to the Mayflower Retail Park, Festival Leisure Park, and the new St Modwen developed Endeavour Point distribution warehouse.
? Immediate access to the A127 and A1235, with the M25 only a 15 minute drive.
? Self-contained 34,272 sq ft office building, built in 2000 and designed with flexibility for multiple independent occupancy, with three seperate entrances and service cores.
? Situated on a prominent site of approximately 1.635 ha (4.04 acres) providing a very low site coverage of 19.5%.
? Formerly let to Xchanging UK Limited, at ￡480,100 pa but with a break option operated which provided vacant possession on 3 October 2024.
? Letting agents instructed and quoting a rent of ￡25 per sq ft for refurbished space or ￡17 per sq ft as existing.
? The former tenant has used the eastern Ground Floor as a data centre, with 1,100 kVA power supply available from a substation on site.
? Freehold.
? Offering considerable asset management opportunities, for single or multiple occupancy, or comprehensive redevelopment and change of use.
? Offers in the region of ￡3,800,000 subject to contract and exclusive of VAT are invited for the freehold interest, reflecting a low capital cost of only ￡110.88 per sq ft and ￡940,594 per acre.
? Based on the quoting terms and a rent of ￡17 per sq ft, once fully let the property will yield 14.4%.
Tel: 07889 896872
Email: [email protected]