Frank-Steier Price Ltd. Leading niche commercial property investment practice Logo for Midlands Property Awards 09

September 2019

249 Silbury Boulevard, Milton Keynes, MK9 1NA

Screenshot 2019-09-17 at 10.35.45


249 Silbury Boulevard is a prime multi-let office building positioned in the heart of the central business district of Milton Keynes.  It front Silbury Boulevard and is within a few minutes’ walk of the main retail pitch and Milton Keynes railway station.  The property comprises 20,894 sq.ft of offices over ground, first and second floors and has recently benefitted from a significant refurbishment programme.  Fully let to four tenants including the excellent covenants of Bank of Scotland plc and Hillier Hopkins LLP with a WAULT to break of 2.70 years and 6.16 to expiry.  Passing rent of £373,845 per annum (£17.89 per sq.ft).  Excellent reversionary potential with recent lettings reflecting £19.50 per sq.ft.  Offers sought in excess of £4,500,000 which reflects a net initial yield of 7.80%, a reversionary yield of 8.49% and a low capital value of £215 per sq.ft.