Cranfield University Technology Park

Commercial Income Generating Asset

The Cranfield University Technology Park is a leading research and innovation centre affiliated with Cranfield University. The site extends across 5.6acres with 3 buildings totalling 77,363 sq ft and 410 car parking spaces.

The property is let to 48 tenants when acquired, generating £1.243m income, which represents £16 per sq ft with WAULT of 3 years. Very low historic vacancy at less than 5%.

The plan is to actively managed the asset, driving rents to £20 per sq ft targeting £1.3m rent, lengthening the average lease length and value adding through planning improvements.

Currently running at 96% occupancy compared to 80% when acquired, generating £1.3m rent.

Property Type Commercial
Initial Cost £15m
Date Acquired Jul 2017
Net Rental Yield £7.3%
Subsequent Expenditure £300k
Current Value £20m
Projected MM 2x
 
 
 
 
 
 
 
 

With the ultra-high technology companies and candidates that we work with, the Tech Park’s location and its links to the world class Cranfield University are an important part of our own brand.

GEOFF COCKLE, DIRECTOR, VECTOR RECRUITMENT, TENANT OF CRANFIELD UNIVERSITY TECHNOLOGY PARK

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