1 Progress Centre, Whittle Parkway

Slough, SL1 6DQ

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Under Offer
Property Type Office / Investment
Availability For Sale
Size 4,296 sq ft
Price Offers in excess of £1,000,000 subject to contract
Business Rates £19,870.00 per sq ft
Energy Performance Rating This property has been graded as 80 (D)

Thames Valley Investment Opportunity Modern Two Storey Pavilion Offices near to the M4 (J7). Sale and lease back. Sensibly priced

Location

Progress Business Centre is situated within half a mile of the M4 (Junction 7) to the western side of Slough sitting along the A4 in a mixed commercial and residential area more closely associated with Slough Trading Estate and in nearby proximity to facilities at Taplow and also close by to Burnham Station.

The location provides good motorway and public transport facilities. It is also situated close to good out of town retail facilities with Sainsbury’s half a mile away and The Bishop Centre (Tesco, TK Maxx, Costa, Next, Frankie & Bennies, Nike) within a short drive.

No 1 Progress Business Centre is a gateway property at the front of the business centre.

Key Points

  • Sale and lease back
  • 7% gross yield
  • Good covenant
  • Excellent parking

Description

A modern detached two storey pavillion style office of traditional construction with a steel framework supporting cavity brick / block walls beneath a pitched and interlocking concrete tile covered roof with good natural light.

A generous car park surrounds the office and the front pedestrian approach is neatly landscaped.

Accommodation

First Floor 2,135 sq.ft. Ground Floor 2,161 sq.ft. Total 4,296 sq.ft. approximately with 22 parking spaces, a ratio of 1 space : 195 sq.ft.

The Market / Guide Price and Outline Terms

Recent evidence includes the letting of No 15 Progress Business Centre 1,844 sq.ft. at £16.00 per sq.ft. and close by 7 Lake End Court Taplow has just been brought to the market at £21.50 per sq.ft.

No 1 Progress Business Centre is offered with a new 10 year lease term, a 5th year tenant break clause / open market rent review at a rent of £70,000 p.a.x. (£16.30 per sq.ft.) to Orchard and Shipman Group Ltd. The property is elected for VAT.

Offers are invited in excess of £1 million plus VAT (the interest is a 999 year lease from 1987 at a peppercorn rent of one red rose a year).

Orchard and Shipman Group Ltd

Established in 1988, Orchard and Shipman Group Ltd. are UK wide residential property managers with private, Local and Central Government contracts. The premises provide the head office with central services functions. Further details will be provided to interested parties on request.