Yield generating asset
Countryside House, Brentwood, Essex
The site
Office facility in a London commuter town on the M25, 24 miles from central London. Built to house the headquarters of Countryside Plc, a large FT250 housebuilding and developer located in London and the southeast of England.
The current occupant is Countryside Properties (UK) Ltd and has entered into a 15.2 year lease guaranteed by Countryside Plc having shareholder funds of £897m. Countryside Properties (UK) Ltd enjoys a credit safe risk of 94/100 or ‘Very Low Risk’.
Finance
Property sale price is
Finance costings are included by way of example but will not be relevant
Property sale price is £20,500,000
Annual rent £1,205,000
Net yield (assuming purchaser costs of 6.75%) 5.5%
Annual rent is reviewable every 5 years to current market value (adjustments upwards only). Current landlord is completing a ‘grade A refurbishment’ at a cost of £4.88m.
Case studies
The following are summary sheets of three currently available.
Redevelopment
Asset development
