Chartered Surveyors &
Commercial Property Advisors

Project Description

FOR SALE AIRPORT OFFICE INVESTMENT

The property comprises a long leasehold office investment located at London Luton Airport.

Luton is a major conurbation located 32 miles north of London. Luton and Dunstable form one of the largest employment centres in the region. Bedford is situated 20 miles to the north, Stevenage 15 miles to the east and Milton Keynes 14 miles to the north-west. The M1 motorway runs to the west of the town with the main junctions being 10 and 11.

London Luton Airport is the UK’s fifth busiest airport with a current capacity of 18 million passengers per annum and it is the intention to increase this capacity to 32 million passengers per annum by 2041. This will be achieved through the construction of a second terminal and associated infrastructure including a new access road (further details are available on request).

Proctor Way is located just off Percival Way which is the main commercial road serving London Luton Airport with nearby occupiers including, Tui, Signature Flight Support and Gulfstream.

Essex House and Eaton House comprise two detached two storey office buildings constructed in the early 1990’s.

Essex House is let to Sixt Car Rental, Twinjet Aircraft Sales & Oryx Jet producing £53,688 per annum. Eaton House is available to let.

There is the opportunity to re-structure existing leases and let the vacant Eaton House.

Estimated Rental Value of £95,188 per annum (£69,108 per annum after deducting ground rents).

Offers in the region of £800,000 to show a net initial yield of 8.25% when fully let.

For an initial discussion contact Paul Jessop on 01582 346110 or email: paul@jessopco.co.uk

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