Summary - Jobcentre Plus,Crown Buildings, Laneham Street,SCUNTHORPE,DN15 6JT DN15 6JT
1 bed 1 bath Office
Income-producing government-let asset with conversion potential subject to planning.
- Let to Government department; passing rent £200,306 pa (rent review June 2024)
- Net initial yield 8.4% allowing for purchaser's costs
- Large building: 24,038 sq ft across main block and two-storey annexe
- Secure on-site parking for approximately 60 vehicles
- Built/refurbished 1993; air conditioning and lift present
- Only 5 years remaining on lease; likely mortgage-lending restrictions
- Very deprived area with very high crime levels; affects demand
- No planning consent for conversion; alternative uses subject to planning
A substantial detached office investment in Scunthorpe, let to a Government department with a current passing rent of £200,306 per annum (rent review June 2024). The 24,038 sq ft site includes secure barrier-controlled car parking for approximately 60 vehicles and benefits from good natural light, air conditioning and lift access. The net initial yield is shown at 8.4% after purchaser’s costs.
The building was substantially refurbished in 1993 and offers flexible open-plan and cellular accommodation across three storeys plus a two-storey annex. Partitioning is non-structural and readily altered; services include suspended ceilings with fitted lighting, gas central heating, fire and security alarms. The edge-of-town location gives straightforward access to the railway station and local transport links.
Buyers should note material constraints: only five years remain on the current lease, which is likely to restrict mortgage lending and will be a key consideration for many purchasers. The property sits in a very deprived area with very high recorded crime levels, which may affect occupational demand and alternative uses.
There is potential for alternative use — residential conversion, hotel or business centre — but no planning consent exists and any change would be subject to a planning application. For an investor seeking immediate income from a public-sector tenant and a clear reversion point, or for a developer comfortable with planning risk, this site offers scale and flexibility.
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