ROSEBERY COURT CENTRAL AVENUE, ST ANDREWS BUSINESS PARK - NORWICH, NR7 0HS - LoopNet
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ROSEBERY COURT
CENTRAL AVENUE, ST ANDREWS BUSINESS PARK
NORWICH, NR7 0HS
Freehold Government Let Office Investment
ROSEBERY COURT
DRONE FOOTAGE
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ROSEBERY COURT FREEHOLD GOVERNMENT LET OFFICE INVESTMENT
ST ANDREWS BUSINESS PARK, NORWICH, NR7 0HS
INVESTMENT SUMMARY
Norwich is the principal commercial and administrative Total income of £926,019 per annum, reflecting £13.73 We are instructed to seek offers in
centre of East Anglia. per sq ft. excess of £10,500,000 (Ten Million,
St Andrews Business Park is an established and Attractive WAULT of 7.2 years to expiries and 3.2 years Five Hundred Thousand Pounds),
popular out of town office location. to breaks. subject to contract and exclusive of
68,306 sq ft of high quality office accommodation. Excellent car parking ratio of 1:220 sq ft. VAT.
The Secretary of State for Housing, Communities Freehold.
and Local Government occupies 73% of the office A purchase at this level reflects a net
Significant asset management opportunities, including
accommodation and has been in occupation since the letting of Suite 6, re-gearing leases and future
initial yield of 8.27% after allowing for
1994. redevelopment/alternative uses, subject to the purchaser’s costs of 6.70% and a low
necessary consents. capital value of £154 per sq ft.
2
ROSEBERY COURT FREEHOLD GOVERNMENT LET OFFICE INVESTMENT
ST ANDREWS BUSINESS PARK, NORWICH, NR7 0HS
LOCATION COMMUNICATIONS
The city of Norwich is the regional capital of East Anglia and the Norwich is acknowledged as the leading centre in the UK finance
county’s administrative, commercial and cultural centre. and insurance services market with the largest general insurance
centre in the UK. Norwich is home to Aviva, Marsh, Virgin Money, Road
Norwich is located 100 miles north east of London, 60 miles north Royal Bank of Scotland, Central Trust Capital and Swiss Re.
east of Cambridge and 40 miles north of Ipswich. The A11 connects Norwich to Cambridge
Norwich is one of the fastest growing cities in the UK: since 2006, and beyond to London via the M11. The
A total of 132,500 people live in the city of Norwich (2011 census) the population has increased at a stronger rate than for the UK as a A140 provides a link to Ipswich and the A47
and the city has a Travel of Work Area population of 282,000. whole. Norwich has a larger-than-average working age population, connects Norwich to Great Yarmouth and
and a lower-than-average older population. Lowestoft on the east coast and the A1 and
The city is one of the largest centres of employment in greater Midlands to the west.
south-east England and contributes more than £3 billion per annum The city is home to two universities: the University of East Anglia
to the national economy. and the Norwich University of the Arts. Norwich’s exceptional
quality of life is a significant factor in the very high graduate
retention rate (consistently around 40 per cent) and in staff Rail
retention within the wider business community.
Norwich is served by a direct service to
London Liverpool Street with a fastest
journey time of 1 hour 30 minutes.
EAST
MIDLANDS London King’s Cross can be reached via
Cambridge in approximately 2 hours.
NORWICH
NORWICH
Leicester A £1.5 billion investment programme is
Peterborough underway to improve rail services across
A11
M69
M1
A1
East Anglia to include replacement of
Thetford rolling stock, new stations and an increase
M6
A14
Coventry in services across the region.
A14 A11
A14
Newmarket
A1 Bury St Edmunds
Northampton
Bedford
Cambridge Air
M1 M11
Ipswich
Milton Keynes Norwich International Airport is located
4 miles from the city centre. The airport
M40 Luton STANSTED
Colchester provides flights to UK and European
LUTON
A1(M)
destinations. Worldwide travel can be
M1 M11
Chelmsford
accessed through regular direct flights to
Oxford
Schiphol Airport in Amsterdam.
M25
London Stansted Airport is the closest of
Southend-on-Sea
LONDON
M25
the London airports to Norwich, located
M4
Reading HEATHROW approximately 65 miles to the south west.
M3 M25
M25 Maidstone
Guildford
GATWICK
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ROSEBERY COURT FREEHOLD GOVERNMENT LET OFFICE INVESTMENT
ST ANDREWS BUSINESS PARK, NORWICH, NR7 0HS
SITUATION MI
LE
A1
CR
OS SPROWSTON
27
RD
SL SE
0
A NE OU
AD
St Andrews Business Park is located half a mile west of the
LH
SA
R RO WO
OD
C
IA
OC
Postwick intersection of the A47 Norwich southern by-pass,
K
ET BR
UPPER RD
HELLESDON
providing easy access to the region’s transport network. PLUMSTEAD
S WE
M
O
NEW CATTON US GREEN
WOOD S I
DR EH
AY
AY O
T
LS
ON
RD
LD D
E
A new dual-carriageway, the A1270 Broadland Northway, has
HA
LA DR
DE R D
B R OADL
EA
RD
M
ST
UM
RD
PL
NE
N
O
recently opened, connecting the A47 to Norwich Airport and W
ST
RO
AND
destinations to the north of the county.
SP
NOR
ROSEBERY
HE
DE R E
IG
H AM R D
H
TH W
COURT
AM
The Park, extending to 18 acres, provides an attractive landscaped
ST
S M E E LN
AY
working environment and benefits from a range of amenities
OL D P A L A C E R D
RI
FARROW ROAD
N
RD
G
H A RV E Y L N
including the Terrace Restaurant, Bannatyne’s Health Club & Spa NORWICH
RO
AD
IDE
ERS
and Busy Bees Day Nursery. A Sainsbury superstore and other R L H AM
RD
R IV
EA
YARMOUTH
local retail amenities are within close proximity of the Park. NORWICH
YA R M OU T H R D
R OAD
STATION A47
RD
BE
K
The Park comprises of 10 office buildings and is home to a MOUNT
AN
R
H
T
ST
PLEASANT U
N
number of national occupiers including Perenco UK Limited, Price
RD
WH I T
LI N GH A
M LN
H
CH
S
WI C
S
Bailey LLP, NPS Property Services and NFU Mutual Insurance PA
R
IS
BY
TC
IP S
RN
HE
H
T
U
OU
Society Limited.
R
S
C
CH
R
H
WI
D
RD
OR
D -N
LL
OA
C IT Y R
7
A4
HA
TR DA
KE N IEL
St Andrews Business Park forms part of the established cluster AR SR
D
WM OA
NE D D
of business parks to the east of the City centre comprised of RET
TR
OA
BAR A14
Broadland Business Park, Broadland Gate and Meridian Park. 6
OLD LAKENHAM
Rosebery Court occupies a prominent position within the park,
having extensive frontage to Central Avenue. ST ANDREWS BUSINESS PARK FORMS PART OF
THE ESTABLISHED CLUSTER OF BUSINESS PARKS
TO THE EAST OF THE CITY CENTRE COMPRISED
OF BROADLAND BUSINESS PARK, BROADLAND
GATE AND MERIDIAN PARK.
4
5
ROSEBERY COURT
ST ANDREWS BUSINESS PARK, NORWICH, NR7 0HS
1 Price Bailey 5 NPS Group
2 Billi UK 6 Williams Lea
3 Perfect Placement 7 NFU Mutual
4 NPS Group 8 Oxbury / Altrad / Redbox
ROSEBERY
COURT The Terrace Cafe
Perenco
6 Archant
7
5
8
4
3
1 2
ST ANDREWS
BUSINESS PARK
Bannatyne’s Health Club & Spa
Busy Bees Nursery
BROADLAND
BUSINESS PARK
6
ROSEBERY COURT FREEHOLD GOVERNMENT LET OFFICE INVESTMENT
ST ANDREWS BUSINESS PARK, NORWICH, NR7 0HS
ACCOMMODATION
The property has been measured by Greenhatch
Group in accordance with the RICS Code of Measuring
Practice 6th Edition (September 2017) and provides the
following net internal areas:
Floor Demise NIA
Sq Ft Sq M
Ground Offices 22,113 2,054
Atrium 4,799 446
First Suite 1 766 71
Suite 2 3,002 279
Suite 3 1,996 185
Suite 4A 2,458 228
Suite 4B 1,039 96
Suite 5A 1,730 161
DESCRIPTION Suite 5B
Suite 6
2,470
4,510
229
419
Rosebery Court, constructed in 1994, is a detached The accommodation is of a high specification, with raised Suite 6A 714 66
office building providing 68,306 sq ft of Grade A office access floors, suspended ceilings with recessed lighting and
Reception 856 80
accommodation arranged over ground and two upper air-conditioning.
floors. Second 21,853 2,030
The office specification includes: Total 68,306 6,344
The building is steel framed with full height brick and block
cavity walls beneath a roof covered with curled steel sheets Full height atrium The measured survey can be made assignable to the
and north-lights illuminating a large central atrium. The 3no. Schindler 630 Kg 8-person passenger lifts purchaser.
building has metal-framed double glazed sealed window Four-pipe fan coil air conditioning
units. Suspended ceilings and recessed lighting
Access raised floors with floor boxes
The building is served by a detached energy centre Carpet tiled floors
incorporating boilers, air-conditioning plant and a stand-by Male, female and disabled WC’s on each floor
generator.
The toilet accommodation is currently the subject of a full
The main entrance to the office accommodation is at first refurbished programme at a cost of c £700,000. The work is
floor level, accessed from the car park by way of a feature scheduled to be completed in October 2020.
steel bridge.
The property benefits from 306 on-site car parking spaces
Internally the building comprises open plan office (1:220 sq ft) , together with “grass-grid” over-spill parking
accommodation on three floors arranged around the central areas providing approximately 50 extra spaces.
atrium.
7
ROSEBERY COURT FREEHOLD GOVERNMENT LET OFFICE INVESTMENT
ST ANDREWS BUSINESS PARK, NORWICH, NR7 0HS
TENANCY
Demise Tenant Area Lease Start Rent Break Lease Rent Rent Inside Car Comments
(Sq Ft) Review Option Expiry (£ P.a.) (£ Sq Ft) LTA Spaces
1954
Ground floor, The Secretary of State for 49,479 24/06/2019 24/06/2024 23/06/2024 23/06/2029 667,974.60 13.50 Y 216 Tenant break subject to 12 months notice.
Suite 6A, (1st Housing, Communities and & Tenant receives 1 month rent free 24/06/2021 -
floor) & 2nd floor Local Government 23/06/2026 23/07/2021 & 24/06/2022 - 23/07/2022.
Tenant receives 3 months rent free if break(s) are not
excercised.
Rent review increase capped at 10%.
Suite 1, Vestigium Services Limited 766 20/07/2018 19/07/2023 11,935.00 15.58 N 4
1st floor
Suite 2, Geologix Limited 3,002 24/06/2014 23/06/2022 23/06/2024 41,850.00 13.94 N 14 Tenant break subject to 6 months notice.
1st floor Service charge cap £16,439.50 year 1 (£5.50 per sq ft)
subject to annual RPI uplift.
Suite 3, Modality Systems Limited 1,996 02/11/2015 02/11/2023 02/11/2023 01/11/2025 30,676.00 15.37 N 10 Tenant break subject to 6 months notice.
1st floor Service charge cap £11,017 year 1 (£5.50 per sq ft)
subject to annual RPI uplift.
Terms agreed for a 5 year reversionary lease from
02/11/2020 at £30,676 per annum year 1, £31,388 year
2 and £32,000 year 3. Year 3 RPI rent review.
Suite 4A, Cocksedge Building 2,458 28/06/2017 27/06/2022 34,838.00 14.17 N 12 Service charge cap £13,557.50 year 1 (£5.50 per sq ft)
1st floor Contractors Limited subject to annual RPI uplift.
Suite 4B, ATHE Limited 1,039 20/07/2020 20/07/2023 20/07/2023 19/07/2026 15,325.00 14.75 N 4 Tenant break subject to 6 months notice.
1st floor Service charge cap £5,714.50 year 1 (£5.50 per sq ft)
subject to annual RPI uplift.
Suite 5A, Potter’s Leisure Limited 1,730 18/07/2019 18/07/2022 17/07/2022 17/07/2024 25,085.00 14.50 N 10 Tenant break subject to 6 months notice.
1st floor Service charge cap £9,515 year 1 (£5.50 per sq ft)
subject to annual RPI uplift.
RPI indexed rent review.
Suite 5B, East Coast Community 2,470 18/10/2018 18/10/2021 18/10/2021 17/10/2023 32,940.00 13.34 N 14 Tenant break subject to 6 months notice.
1st floor Healthcare CIC Break penalty £8,235.
Suite 6, Vacant 4,510 65,395.00 14.50 20 Vendor to provide 12 month rental guarantee.
1st floor (12 month guarantee)
Reception 856
Total 68,306 926,018.60 304
THE SECRETARY OF STATE FOR HOUSING, COMMUNITIES AND LOCAL
GOVERNMENT OCCUPIES 73% OF THE OFFICE ACCOMMODATION AND
HAS BEEN IN OCCUPATION SINCE 1994
8
ROSEBERY COURT FREEHOLD GOVERNMENT LET OFFICE INVESTMENT
ST ANDREWS BUSINESS PARK, NORWICH, NR7 0HS
TENANT COVENANTS
The Secretary of State for Housing, Geologix Limited
Communities and Local Government www.geologix.com
The tenant provides the undoubted covenant of the United Geologix Limited, founded in 1992, provides leading Oil
Kingdom Government. and Gas Industry software and services, currently in use
2.91% 1.78% in over sixty countries. The company provides innovative
The Government has been in occupation of Rosebery Court solutions for digital transformation for integrated operations
3.56% 1.39% since its construction in 1994 and the property acts as a in drilling, subsurface, production and pipeline.
regional hub office for government bodies.
Geologix Limited (02763820) is assigned a Dun & Bradstreet
3.83%
Departments within the building include; Government rating of A2. Recent financial results are shown below:
4.05% Property Agency, Crown Commercial Service, Cabinet
Office, HM Treasury, Health & Safety Executive, Cafcass and Year to Year to Year to
the Valuation Office. 31/03/2019 31/03/2018 31/03/2017
4.86%
Net assets £425,491 £328,465 £657,509
Rental Income The tenant is responsible for the provision of all services (liabilities)
by Tenant 77.62% within the building and provides security and access to all
occupiers 24/7.
Modality Systems Limited
www.modalitysystems.com
Vestigium Services Limited
www.vestigium-services.com Modality Systems Limited is a dedicated Microsoft Systems
Integrator and Independent Software Vendor. The company
Vestigium Services Limited (formerly Monomine Limited) supports and advises clients on the appropriate use of
works with financial services organisations to locate the Microsoft technology to meet their business goals.
current whereabouts of customers who have become ‘Gone
The Secretary of State for Housing Away’ through change of circumstances (change of address, GCI Managed Services Group Limited acquired Modality
Communities and Local Government death, expatriation etc.) Systems Limited on 31st December 2019 and all
Geologix Limited intercompany balances were written off as part of the sale.
The company provides customers with a free service GCI is one of the largest IT and business consultancy firms
Cocksedge Building Contractors Limited to contact and notify financial services organisations of in the world.
changes in their circumstances. This assists consumers in
East Coast Community Healthcare CIC their tracking of ‘lost assets’ both current and historic. Modality Systems Limited (06143649) is assigned a Dun &
Bradstreet rating of N3. Recent financial results are shown
Modality Systems Limited
Vestigium Services Limited (08748611) is assigned a Dun & below:
Potter’s Leisure Limited Bradstreet rating of N3. Recent financial results are shown
below: Year to Year to Year to
ATHE Limited 31/12/2018 31/12/2017 31/12/2016
Year to Year to Year to
Vestigium Limited Turnover £13,624,000 £12,538,365 £8,773,939
31/03/2020 31/03/2019 31/03/2018
Profit (loss) (£3,903,875) (£2,187,900) (£3,729,346)
Net assets (£204,107) (£305,255) (£371,577)
(liabilities) Net assets (£8,273,169) (£4,369,294) (£2,181,394)
(liabilities)
9
ROSEBERY COURT FREEHOLD GOVERNMENT LET OFFICE INVESTMENT
ST ANDREWS BUSINESS PARK, NORWICH, NR7 0HS
Potter’s Leisure Limited
Cocksedge Building Contractors Limited www.pottersholidays.com
www.cocksedge.com
Potter’s Leisure Limited is focused on the leisure, travel and tourism sector, providing short
Cocksedege Building Contractors Limited is a Suffolk based company, established in 1938. breaks at the Potter’s Resort, set in 65 acres at Hopton-on-Sea on the Norfolk coast.
Cocksedge has undertaken a number of projects for colleges within the University of
Cambridge (Jesus, Clare and Gonville & Caius), is on a number of local authority schools The family was responsible for the first ‘permanent’ holiday camp with central facilities and
framework agreements and works in the housing and commercial sector. wooden huts.
The company has a number of specialist divisions; ABS Electrical, ABS Joinery, ABS The resort is now a 5 star facility and has been the home of indoor bowls since 1999,
Mechanical and Bowie Construction. hosting the Just 2020 World Indoor Bowls Championship in January 2020.
Cocksedege Building Contractors Limited (04007482) is assigned a Dun & Bradstreet rating Potter’s Leisure Limited (00453567) is assigned a Dun & Bradstreet rating of 4A3. Recent
of 3A2. Recent financial results are shown below: financial results are shown below:
Year to 31/12/2019 Year to 31/12/2018 Year to 31/12/2017 Year to 31/12/2018 Year to 31/12/2017 Year to 31/12/2016
Turnover £36,895,931 £36,134,386 £36,319,894 Turnover £25,292,701 £24,127,551 £23,437,470
Post Tax Profit (loss) £242,336 £790,577 £927,470 Post Tax Profit (loss) £876,715 £786,481 £371,134
Net assets (liabilities) £7,305,184 £7,242,848 £6,638,271 Net assets (liabilities) £17,944,111 £17,067,396 £16,280,915
ATHE Limited
www.athe.co.uk East Coast Community Healthcare CIC
www.ecch.org
ATHE Limited is a global awarding organisation regulated by Ofqual and other UK and
international regulators. The company offers a wide portfolio of vocationally orientated East Coast Community Healthcare CIC (ECCH) is a staff owned Social Enterprise, providing
qualifications. community based NHS and social care in Norfolk & Suffolk. The company has contracts
with the NHS and two County Councils. At least 70,000 people are registered as service
ATHE has also developed a diverse range of regulated bespoke qualifications for clients users with ECCH.
through their qualifications development service.
ECCH bid and has been re-awarded the contract with Great Yarmouth and Waveney CCG
ATHE Limited (07279412) is assigned a Dun & Bradstreet rating of C1. Recent financial on a new 5+2 year basis from April 2019. The new contract incorporates an expansion of
results are shown below: services and future revenues.
Year to 31/12/2019 Year to 31/12/2018 Year to 31/12/2017 ECCH (07573080) is assigned a Dun & Bradstreet rating of 2A2. Recent financial results are
Net assets (liabilities) £118,183 £88,882 £34,769 shown below:
Year to 30/09/2018 Year to 30/09/2017 Year to 30/09/2016
Turnover £35,658,850 £37,307,297 £36,976,265
Post Tax Profit (loss) £812,446 £492,409 £370,453
Net assets (liabilities) £4,098,568 £3,286,159 £2,793,733
10ROSEBERY COURT FREEHOLD GOVERNMENT LET OFFICE INVESTMENT
ST ANDREWS BUSINESS PARK, NORWICH, NR7 0HS
SITE Second Floor
The Secretary of State for
Housing, Communities
and Local Government FLOOR PLANS
Rosebery Court is centrally positioned
on a rectangular landscaped site of
approximately 1.95 hectares (4.81 acres). Suite Suite Suite Suite Suite Tenant
3 4A 6A 6
1 Vestigium Services Ltd
Suite
4B 2 Geologix Ltd
First Floor
TENURE Suite Suite Suite Suite
3
4A
Modality Systems Ltd
Cocksedge Building
2 1 5A 5B Contractors Ltd
Freehold.
4B ATHE Ltd
5A Potter’s Leisure Ltd
EPC
5B East Coast Community
Healthcare CIC
6 Vacant
The Secretary of State for
The property has been assessed for Housing, Communities 6A The Secretary of State for
and Local Government
energy performance in Band D (D 80). Ground Floor Housing, Communities and
Local Government
SERVICE CHARGE(S) PLANNING
• Estate Service Charge The vendor has commissioned a planning study
The tenant’s contribute towards the St to evaluate development options for the site,
Andrews Park Management Company Limited which concluded:
estate charge. The budget for the current year a) The site has development potential for
(30/09/2020 – 29/09/2021) totals £15,718 - the provision of additional unit(s) of
£0.23 per sq ft. accommodation on site, provided existing car
parking can be re-provided;
• Building Service Charge
b) There is unlikely to be any resistance
The building services are administered by
encountered from the local planning authority
the Government Property Agency (Interserve
to the principle of additional office uses in this
Group Limited). Non-Government tenants
location;
within the building pay a capped service
charge of £5.50 per sq ft (subject to annual c) A hotel use could be argued on the basis of
increase in line with RPI) and the landlord pays local policy, which seeks to promote tourism
£1.20 per sq ft (subject to annual increase uses on account of the economic and
in line with RPI) in respect of unoccupied employment benefits.
accommodation.
Further information can be made available to
interested parties.
Ordnance Survey © Crown Copyright 2020. All Rights Reserved.
Licence number 100022432
Plotted Scale - 1:1250. Paper Size - A4
1112
ROSEBERY COURT FREEHOLD GOVERNMENT LET OFFICE INVESTMENT
ST ANDREWS BUSINESS PARK, NORWICH, NR7 0HS
NORWICH – Take-up Rosebery Court
OCCUPATIONAL MARKET Take-up in 2019 was recorded at 147,000 sq ft,
representing a small increase over the figure for 2018 and
The lettings to East Coast Community Healthcare CIC
(2018 - £13.34 per sq ft), Potter’s Leisure Limited (2019 -
slightly below the 10 year average of 180,000 sq ft per £14.50 per sq ft), ATHE Limited (2020 - £14.75 per sq ft)
The city of Norwich has an estimated office market of
annum. and Modality Systems Limited (reversionary lease 2020
4.7m sq ft. Norwich is home to 117,000 jobs and more
- £15.37 per sq ft), highlight the growth in rental values for
than 8,000 businesses - almost half of these jobs are
The lack of supply of good quality stock and the effects smaller suites of offices and the reversionary opportunity
based in large companies, and the city is one of the
of Covid-19 have put many occupational requirements offered by the property.
principal centres of employment in greater south-east
on hold, with take-up in the first half of 2020 reported at
England.
48,000 sq ft. The Secretary of State for Housing, Communities and Local
Government entered into a new 10 years lease in June 2019
Norwich’s growth sectors are in financial services; life
at a rent of £13.50 per sq ft. The previous passing rent was
science; advanced manufacturing; food & drink; digital and 250,000
agreed in 2014 and reflected £9.98 per sq ft.
creative industries.
200,000 The rent is due for review effective 24th June 2024.
International Development Secretary Liz Truss has given
her backing to a new road map for the future of the
Rosebery Court offers high quality office accommodation,
Cambridge Norwich Tech Corridor which sets out the path
Sq Ft
150,000
ample car parking and an attractive environment, which
to creating a globally significant tech cluster in the East
provides the opportunity to benefit from the reversionary
of England. The Tech Corridor initiative is a public-private
nature of the building.
partnership set up to deliver high value economic and 100,000
social growth by creating the environment for increased
development and employment opportunities. 50,000
The corridor has reported a 9.70% year-on-year
employment growth by Life Science firms over the last 0
2015 2016 2017 2018 2019 H1 2020
5 years, almost double the national average at 4.90%.
Availability Rents
Office rental growth in Norwich outperformed the national
At the start of 2020 the Norwich office market registered
average in 2019, increasing by 5.00%, while the national
its lowest supply level since 2007. Availability in the city
average remained flat.
remains constrained, with only 262,200 sq ft of office
space on the market – of which 13% is Grade A. This
This rise in rental values has been driven by a lack of new
represents an availability rate of 4.70%.
development and the loss of office accommodation to
residential and student conversion, leading to a shortage
City centre availability accounts for 133,000 sq ft, with the
of good quality offices.
remaining 129,200 being located out of town.
Headline rents for Grade A accommodation, with car
This limited supply is dominated by smaller office suites,
parking, now stand at £16.50 per sq ft.
with only four buildings currently available offering in
excess of 10,000 sq ft.
13ROSEBERY COURT FREEHOLD GOVERNMENT LET OFFICE INVESTMENT
ST ANDREWS BUSINESS PARK, NORWICH, NR7 0HS
PROPOSAL
We are instructed to seek offers in excess of £10,500,000
(Ten Million, Five Hundred Thousand Pounds), subject to
contract and exclusive of VAT.
A purchase at this level reflects a net initial yield of 8.27%
after allowing for purchaser’s costs of 6.70% and a low
capital value of £154 per sq ft.
DATA ROOM VAT AML/KYC
Additional information is available in the data room The property has been elected for VAT and it is Prospective purchasers will be asked to produce identification
to include: proposed that the sale of the asset will be treated of the intended Purchaser and other documentation to
as a Transfer of a Going Concern (TOGC). support any offer submitted to the vendor.
Title(s)
Lease documentation
Measured survey
Service charge(s)
CAPITAL ALLOWANCES CONTACT
EPC The purchaser may have the benefit of any unclaimed For further information, or to arrange an inspection, please
Planning report. capital allowances. contact:
Andrew McGahey
01223 755110
07834 566739
Important notice MP Real Estate, their clients and any joint agents give notice that:
amcgahey@mprealestate.co.uk
They are not authorised to make or give any representations or warranties in relation to the property either here or elsewhere, either on their own behalf or on
behalf of their client or otherwise. They assume no responsibility for any statement that may be made in these particulars. These particulars do not form any
part of any offer or contract and must not be relied upon as statements or representations of fact.
Neil Perrin
Any areas, measurements or distances are approximate. The text, photographs and plans are for guidance use and are not necessarily comprehensive.
01223 755110
It should not be assumed that the property has all necessary planning, building regulation or other consents and MP Real Estate has not tested any services, 07539 582582
equipment or facilities. Purchasers must satisfy themselves by inspection or otherwise. 10/2020. Designed and produced by Creativeworld T: 01282 858200. nperrin@mprealestate.co.ukYou can also read
