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.
|Date Acquired||Jul 2017|
|Net Rental Yield||£7.3%|