Hitchcock Wright & Partners has been instructed to market Curtins House, a waterfront office building on Columbus Quay, Liverpool.
Curtins House is a stunning fully self-contained standalone property designed in an attractive Pavilion style with balconies overlooking the river. Set over four floors, the lettable space totals 7,147 sq ft.
With a tenant already in-situ for a term expiring on 3 December 2017, the property presents a strong investment opportunity for buyers. The current passing rent equates to £82,000 pa exclusive and the lease provides for rent reviews every five years.
The building has been fully refurbished and has suspended ceilings incorporating Category II lighting, double glazed windows, a single 8 person lift and 24 hour on site security. The property also benefits from a fully landscaped car park with 44 spaces.
Columbus Quay occupies a commanding position fronting directly on to the banks of the River Mersey with expansive views of the Wirral Peninsula and Mersey Estuary beyond.
Situated two miles south of Liverpool City Centre, the area has seen a dramatic change over recent years as new leisure, residential and office developments take shape. Nearby local occupiers include GMB, Telewest ADT, Subway and Carphone Warehouse.
Brian Ricketts of Hitchcock Wright & Partners, says:
“Curtins House is a fantastic opportunity for buyers to add to their property portfolio and invest in this expanding business community on Columbus Quay.
“With Brunswick Merseyrail Station in close proximity, and established local businesses nearby including Telewest ADT and Carphone Warehouse, this fully refurbished office building is situated perfectly for potential investors.
“Additionally, with a long term tenant already in-situ and the prospect of an 8.61% net initial yield, we expect interest from both private purchasers and multiple operators looking to add to their existing property portfolio.”
The asking price is £900,000, which shows a highly attractive gross initial yield of 9.11% and a net initial yield of 8.61% (assuming usual purchaser’s costs of 5.75%).
For more information about this property, please contact Brian Ricketts on 0151 227 3400