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Vanquis Bank - Chatham

The property known as Compass South is a modern office building located in Chatham Maritime, a prominent Thames Gateway office location south-east of London. The property comprises 32 890 sqft of office accommodation over three floors and was recently completely refurbished to high quality tenant specifications. The property is let to Portal Chatham LLP but occupied by the quarantor, Vanquis Bank, on a lease expiring on 3rd September 2031, with a tenant break in September 2026, providing a minimum 10 year unexpired lease term. Vanquis Bank, is a strong D&B 5A1 covenant and a subsidiary of Provident Financial.

Location Chatham, Thames Gateway, Kent
Use Office
Size Building comprises 32 890 sqft office accommodation together with a link block of 688 sqft
Site area 2.4 acres (0.972 hectares)
Tenant Vanquis Bank Ltd.
Guarantor rating 5A1 - Dun and Bradstreet
Lease expiry 3rd September 2031, with tenant break in September 2026
Acquisition yield 7.15%
Type of lease Fully repairing and insuring (ie tenant responsible for all operating costs). Rent subject to fixed uplift at review based on 2.5% per annum compounded.