2 Victory Way - Office FOR SALE


Sunderland, TWR SR3 3XL
$9,370,000 USD
2 Victory Way, Sunderland, TWR for Sale
$9,370,000 USD
Office - FOR SALE
1/20
null | 10.25% Cap Rate

2 Victory Way
Sunderland, TWR SR3 3XL


HIGHLIGHTS

  • Own a piece of an award-winning business hub at Doxford International Park, a 125-acre site with excellent road links.
  • Purchase modern office accommodation at the prominently positioned Endeavour House, currently 65% occupied by EDF Energy until 2030.
  • Home to some of the region's biggest finance, tech, and telecommunications hubs, including the EE Limited switching centre and the EDS data centre.
  • Unmissable investment opportunity reflects a net initial yield of 10.25% and a low capital value of £83/SF, assuming purchaser’s costs of 6.69%.
  • With everything in one place, tenants can visit the on-site Greggs and Subway, complementing the staff canteens within the offices.
  • Located at the Junction of the A19 and the A690 on the southwestern fringe of Sunderland City Centre, the site offers excellent road connections.

OVERVIEW

Discover a high-yielding office investment opportunity within Doxford International Park, Sunderland’s principal business park. Endeavour House offers flexible, Grade A office space in one of the North East's key business hubs. Arranged over three floors, this attractive property occupies a prominent position on the park's eastern side, close to the estate's main access point from the B1286 onto Admiral Way. Benefit from visible frontage onto the B1286 City Road, linking Doxford to the A19 to the west and Sunderland to the east. The building has been 65% tenanted by powerhouse EDF Energy since its construction in 1995. EDF renewed in 2020 for a new 10-year lease with tenant-only break options in years three and five. The vendor has recently agreed to a subsequent agreement to remove these break options, leaving an attractive unexpired term of approximately 7.4 years. The company gained over 650,000 customer accounts in 2021 and boasts a 5A1 D&B Rating with a minimum risk of business failure, offering excellent investment security. Seeking offers over £9,370,000, subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 10.25% and a low capital value of £83 per square foot, assuming purchaser's costs of 6.69%.

FOR SALE DETAILS

PRICE

$9,370,000 USD

PRICE/SF

$83 USD /SF

CAP RATE

10.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Endeavour One

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1995

SPRINKLERS

-

PARKING SPACES

502

LAND DETAILS

LAND ACRES

2 AC

LAND SF

87,120 SF

ZONING

-

APN/PARCEL ID

TY298715,TY313958,TY316868,TY316869,TY393275

ASK ABOUT THIS PROPERTY

Patrick MathesonKnight Frank LLPMore Info

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Patrick MathesonKnight Frank LLPMore Info

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