100 BUNHILL ROW EC1 Prime London Freehold Investment Opportunity - Lewis & Partners
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100 BUNHILL ROW
EC1
Prime London Freehold Investment Opportunity
THE OPPORTUNITY INVESTMENT SUMMARY Prominently located in the heart of Tech City, less than 250 metres from Silicon Roundabout and Old Street Station Attractive corner modern office building situated on Bunhill Row between the iconic new developments of the Spectrum & Hylo. Providing 13,328 sq ft (1,238.2 sq m) of accommodation over lower ground, ground and three upper floors. The property benefits from a recent media style refurbishment within the common areas and over lower ground and ground floor offices. Multi-let to three tenants; Palladium International Limited , ADT Fire and Security PLC and Think Jam Limited with a WAULT of 4.31 years to expiries and 2.72 years to breaks. The total current rent is £631,350 per annum which equates to a low average passing rent of £47.37 per sq ft. Approximately 60% of the overall income is securely let to the strong covenants of ADT Fire and Security PLC & Palladium International Limited with for an average term of 3.76 years respectively. Opportunity to further enhance rental growth through upgrading the unrefurbished accommodation. Freehold. The vendor is seeking offers in excess of £11,850,000 (Eleven Million, Eight Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT, which reflects a net initial yield of 5.00% after unadjusted purchaser’s costs of 6.8%. This reflects a low capital value of £889 per sq ft. 02 100 BUNHILL ROW, EC1
LONDON
LONDON -
A GLOBAL CITY
London retained its No.1 position ahead of The London Stock Exchange is the world’s third
New York in the most recent Z/Yen Global largest with a market capitalisation
Financial Centres Index. London consistently of £6.2 trillion.
dominates global capital flows attracting
more cross-border capital into real estate
than any other city. Over 300 languages are spoken in London –
more than any other city in the world.
More than 1/3 of Europe’s Tech Unicorns
(businesses valued at >$1 billion) are based London is one of the world’s leading global
in London. tourist destinations. Each year 15 million tourists
are attracted by the rich culture London offers
through its four UNESCO world heritage sites,
London is the Fintech Capital of the World, theatres, museums and art galleries.
Home to 17 of the top 50 Global Fintech
companies, the highest density anywhere in
the World. More than 70% of the FTSE 100 and 100
of Europe’s 500 largest companies are
London accounts for 22% of the UK’s headquartered in London.
Europe’s largest City with the population £ $
Gross Domestic Product (GDP) and is firmly
forecast to reach 10 million by 2030. established as the world’s primary market
€ ¥ for foreign exchange derivatives and energy
futures.
London provides access to nearly 400 global
destinations from 6 airports.
£13.8 Billion invested in London Tech
Companies. Over the past five years London
has benefited from more tech investment than
Amsterdam, Berlin, Dublin and Paris combined.
London boasts the fifth largest urban
economy in the world with a GDP of
over £731bn.
03 100 BUNHILL ROW, EC1
LONDON
100 WHITECROSS
SHOREDITCH OLD CANARY BUNHILL LIVERPOOL THE STREET BARBICAN SOUTH
HIGH STREET STREET WHARF ROW STREET CITY MOORGATE MARKET CENTRE BANK
04 100 BUNHILL ROW, EC1
LOCATION
TECH CITY
London’s Silicon Valley Silicon Roundabout Local Occupiers
Old Street Roundabout and the surrounding area has become The Silicon roundabout area is an integral part of the wider
synonymous with technology companies and web businesses East London Tech City ‘technology hub’, which stretches from
leading to it becoming known as Silicon Roundabout, in a Old Street to the Queen Elizabeth Olympic Park in Stratford.
reference to America’s Silicon Valley. Cisco, Facebook, Google and Intel are amongst the companies
that have committed to invest in the ‘hub’ with Imperial College
In recent years, many technology companies have moved to the
London, Loughborough University and University College London
area and local occupiers now include Turner Broadcasting, Stripe,
also agreeing to be academic partners. This initiative has
CBS Interactive Ltd, Farfetch, Google, Dopplr, Last.fm, Glue Isobar,
meant there has been rapid growth in the number of high-tech
Banksthomas, TweetDeck, livemusic.fm and McDonalds.
companies locating to the area in the last five years.
In addition, several game and app developers, including
Old Street roundabout is in the final stages of a £50 million
Sports Interactive have also based themselves in the vicinity.
upgrade to create an attractive new pedestrianised pubic space,
An additional boost to the area’s ‘tech’ credentials came in
including seating and landscape gardens. New cycle lanes and
September 2011 when Google opened their ‘Campus’ on Bonhill
two way traffic will be introduced to provide easy access to Tech
Street, which is now firmly established as a co-working and
City, the hub to thousands of creative occupiers and residents.
entrepreneur centre providing workspace for start-up tech firms.
Highly visible advertising space, similar to New York’s Time Square
will brighten up the roundabout.
05 100 BUNHILL ROW, EC1
LOCATION
HOXTON
KING’S CROSS ANGEL
KING’S CROSS
PENTONVIL
LE ROAD HOXTON HACKNEY
KINGSLAND ROAD
ST PANCRAS
KING’S CROSS
ST PANCRAS
CIT
YR
OA
D
GO
SW
ELL
RO
AD
GR
ET
STRE
SHOREDITCH HIGH STREET
AYS
OLD
CLERKENWELL
IN
NR
OA
GR
E
D
AT D
OA
T
EA NR
REE ST R EE
OL D ST ER LG
N
ST NA
TH
OLD STREET R BE
100
EE
RUSSELL T
WHITECROSS STREET
BUNHILL ROW
SQUARE
CITY ROAD
SHOREDITCH
GOSWELL ROAD
HIGH STREET
SHOREDITCH
D
L ROA
NWEL
CLERKE
FARR
IN
GDO FARRINGDON BEEC
H ST
REET
BARBICAN
CO
N RO
ATE
FARRINGDON
MM
AD
SG
ERC
CHANCERY
P
LIVERPOOL
HO
IAL
LANE MOORGATE STREET
BIS
STR
OR N
HIGH HOLB HOLB
ORN
EET
LONDON WALL
HOLBORN LON
D ON W
ALL
FARRINGDON STREET
ATE
CITY
THAMESLINK
RG
ALDGATE
COVENT
MOO
EAST
ST PAUL’S
GARDEN
CHE
A PSID ALDGATE
E
LEM
BANK
AN
STR
THE CITY
T
KIN
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BLACKFRIARS HOUSE FE FENCHURCH
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THAM
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STREET ILL
MONUMENT ER H
TOW
RIVER THAMES RIVER THAMES
06 100 BUNHILL ROW, EC1
CONNECTIVITY
UNRIVALLED
CONNECTIONS
Communications The Elizabeth Line (Crossrail)
Stratford
The Property benefits from its proximity to Old Street 8 mins
Heathrow Bond Street Farringdon Whitechapel
Underground Station providing access to the Northern line
33 mins 7 mins 2 mins 2 mins
which is less than a 4 minute walk away. Barbican, Moorgate
and Liverpool Street are all situated within a 5-12 minute
walk providing access to the Circle, Metropolitan, Central,
Hammersmith & City lines and Elizabeth Line, which is
scheduled to be running in 2022.
Reading Paddington Tottenham Moorgate/
61 mins 10 mins Court Road Liverpool Street Canary Wharf
4 mins 6 mins
CGI of Moorgate Elizabeth Line Entrance
Walk & Cycle Times
Old Street
4 mins
2 mins
Angel Shoreditch High St
19 mins 11 mins
6 mins 5 mins
Farringdon Liverpool Street
14 mins 12 mins
5 mins 5 mins
Barbican Bank
8 mins 16 mins
3 mins Moorgate 6 mins
8 mins
3 mins
07 100 BUNHILL ROW, EC1LOCATION
LIFESTYLE &
SITUATION
Situation
100 Bunhill Row is prominently situated in the heart of “Tech City”
on the west side of Bunhill Row to the south side of Old Street
immediately to the west of Old Street Roundabout.
The property lies adjacent to Hylo which is to benefit from major
redevelopment of the site by CIT, and to the rear of GPE’s recently
completed Spectrum mixed use development at 160 Old Street.
Furthermore, it is situated within close proximity to the iconic “Tech
City” developments to include The Bower and The White Collar
Factory, immediately to the north of the HQ buildings of Slaughter
& May and Trowers & Hamlins as well as The University of Law and
Cass University.
The property benefits from the amenities of Old Street, Farrington,
Shoreditch and the famous Whitecross Street Food Market which
are all located within close proximity. Furthermore, the Virgin Active
Gym and Gymbox are located nearby .
The newly developed Featherstone residential development is
situated opposite 100 Bunhill Row providing high quality residential
units.
Hotel and restaurant occupiers in the area include Ceviche, Enoteca
Da Luca, Bone Daddies, Honest Burger, Shoreditch Grind, The Nobu
Hotel, Ace Hotel, The Hoxton Hotel, Dishoom and Hoi Polloi.
08 100 BUNHILL ROW, EC1HOXTON
LOCATION
CIT
YR
OA
D
Restaurants Hotel M by Montcalm Red Dog
Saloon
Honest The Alchemist
Burgers
Bars Retail
The Z Hotel
Breakfast
Coffee Galleries Bone
Daddies CycleLab
Club
ET
STRE
Cerviche Sneakersnstuff
Gyms Occupiers Farfetch/CBS/ Nightjar OLD The Clove
Club
John Brown Bounce Goodhood
Enoteca Da
SHOREDITCH HIGH STREET
Luca Shoreditch Grind
Hoi Polloi
Finsbury Leisure
Centre
Tramshed
GO
Zaha Hadid Goswell Road Tokyo
Bike Iniva
Gallery Coffee Gymbox
SW
OLD STREET
CLERKENWELL
LLE The Hoxton Ace
Hotel
Inmarsat House of Dishoom
EET
RO
Modern
STR
Art Merchants Hackney
OLD
AD
Brainlabs/Adobe/ Tavern
Spark44/Box/
Look Mum Capital One/ Nobu
No Hands McQueen
GR Smoking RE
Runpath Ozone 71a E AT Goat LG
Airbnb Gallery
EA
Mother
NA
TH
Granger ST Forge
BE
Taylor St ER & Co
& Co The Slaughtered Passo Baristas The Curtain N
Lamb
The
Morning ST
The Gibson Artillery REE
SHOREDITCH
Star Boxpark
BUNHILL ROW
Arms T
Clerkenwell Whitecross
The Modern
CITY ROAD
St Market
AD Grind
Pantry LL RO Dinerama
ENWE SHOREDITCH
he Green CLERK London College NTT
GOSWELL ROAD
HIGH STREET
WHITECROSS STREET
of Fashion Virgin Data
100
Active
Google Queen of
Luca Hoxton
Polú Poké
Sourced Fix
Market The Allegory Loaf
Flight Eight
The Jerusalem Club Members
Kurt Tavern
Geiger University Club Hawksmoor
The Jugged of Law Finch’s
Hair The Season
Slaughter Grant Pinsent Hats Tank &
FARR
& May Thornton Masons Paddle
CO
St John
ET
MM
RE
IN
H ST
Iberica
BEEC
GDO
Virgin
ERC
Linklaters Beer & Galvin La
BARBICAN Active
Monzo Bun
WeWork
Chapelle The Wright Offspring
IAL
N RO
Vinotecca Addleshaw Grocer Brothers
Goddard All Bar
STR
One
AD
The We Are
FARRINGDON
EE
Ask for Botanist Bar
T
Janice Nuffield
Bleeding Yauatcha Jose Pizarro Anthropologie The Real
ATE
Heart Barbican Greek
PSG
Smiths of
MOB45 Smithfield Notes WeWork
HO
1 Rebel
FARRINGDON
Ottolenghi
MOORGATE Links of
BIS
Taylor St
Boss
Menswear
London
LIVERPOOL Baristas Honest
Burger
Gunpowde
Natural
Kitchen
Schroders STREET
Molton
Brown
LONDON WALL Dirty
Amazon Dicks
LON Som
D ON W Tempus
PureGym A LL Arts Andaz
PureGym
Deloitte
09
CITY
THAMESLINK THE CITY Duck & Waffle
100 BUNHILL ROW, EC1
Petticoat Lan
Market
ALDGAT
Blacksheep Soho Coffee
EASDEVELOPMENTS
LOCAL DEVELOPMENTS
1 SPECTRUM 2 THE BOWER 5 THE ATLAS BUILDING 6 WENLOCK WORKS
160 OLD STREET, EC1 207-211 OLD STREET, EC1 145 CITY ROAD, EC1 SHEPHERDESS WALK, N1
GPE Helical Rocket Investments Schroders
166,300 sq ft offices 320,000 sq ft 302 apartment residential 130,880 sq ft
tower & 80,000 sq ft of offices
Completed Q3 2018 Completed Q3 2018 Completed 2019
Completed 2018
100% let 100% let 80% let or under offer
100% let
3 WHITE COLLAR FACTORY 4 PANAGRAM 7 M BY MONTCALM 8 TWENTY BONHILL STREET,
1 OLD STREET YARD, EC1 GOSWELL ROAD, EC1 151-157 CITY ROAD, EC1 EC2
Derwent London Dorrington Endora Holdings Ltd The Max Barney Estate
237,000 sq ft 52,788 sq ft 247 bedroom hotel 70,245 sq ft
Completed Q3 2017 Under Construction HOXTON Completed 2015 Completion due Q3 2020
ANGEL
100% let Completion due Q4 2020 100% let c. 70% let to Kingsley Napley
ROAD
54% let or under offer
6 9 SCRIPT 10 CHAPTER HOUSE
44 FEATHERSTONE STREET, BRUNSWICK PLACE, EC1
CIT
YR
OA
D
7 EC1 LBS Properties
5
LBS Properties
10 33,982 sq ft
GO
ET
STRE 50,938 sq ft
SHOREDITCH HIGH STREET
OLD
SW
Completed Q2 2019
2
ELL
Under construction
RO
GR 100% let
AD
E AT
ET
EA
ST Completion due Q4 2020
TRE
O LD S 1 3
ER
N
OLD STREET ST
R EE
9
100
T
WHITECROSS STREET
11
BUNHILL ROW
CITY ROAD
8 11 THE FEATHERSTONE 12 HYLO
GOSWELL ROAD
L ROA
D SHOREDITCH
ENWEL
4 HIGH STREET BUILDING 103-105 BUNHILL ROW, EC1
CLERK
12 FEATHERSTONE STREET, EC1 CIT
FARR
REET Derwent London
CO
H ST 261,143 sq ft
IN
BEEC
M
GDO
ME
126,500 sq ft
Under construction
RCIA
N RO
BARBICAN
ATE
FARRINGDON
L ST
Under construction
AD
SG
CHANCERY Completion due Q3 2021
P
REE
LIVERPOOL
HO
LANE MOORGATE STREET
T
Completion due Q4 2021
BIS
HOLB
ORN
LONDON WALL
FARRINGDON STREET
ATE
CITY
THAMESLINK
RG
ALDGATE
10 100 BUNHILL ROW, EC1
MOO
EAST
ST PAUL’S
LE M
CHE
A PSID ALDGATE
AN
E
STR
BANK
EETHE BUILDING
DESCRIPTION
Prominent attractive corner office building
refurbished to a high media style specification,
providing 13,328 sq ft (1,238.2 sq m) of office
accommodation arranged over lower ground,
ground and three upper floors.
Well configured floors provide good floor to ceiling heights,
excellent natural light and views overlooking Bunhill fields.
The recently refurbished ground and lower ground floors
benefit from their own self-contained entrance and an
outdoor garden terrace. The entrance lobby has recently
been refurbished to a high standard. Furthermore the first
floor accommodation is being refurbished by the tenant.
The property currently provides the following specification:
VAV air conditioning system
Metal tile suspended ceilings
Fully accessible raised floors
New 5-person passenger lift servicing all floors
Male and female WCs on each floor
Excellent floor to ceiling heights
Shower and disable facilities
Outdoor terrace on lower ground floor level
11 100 BUNHILL ROW, EC1THE SPACE
ACCOMMODATION
The property has been professionally measured by Lower Ground Floor Ground Floor
Plowman & Craven and provides the following approximate
2,807 Sq Ft / 260.8 Sq M 2,163 Sq Ft / 200.9 Sq M
net internal floor areas:
Stairs
Accommodation Sq Ft Sq M Stairs
Third 2,677 248.7
Second 2,846 264.4
First 2,835 263.4
Ground 2,163 200.9
Lower Ground 2,807 260.8
Total 13,328 1,238.2
First Floor Second Floor Third Floor
2,835 Sq Ft / 263.4 Sq M 2,846 Sq Ft / 264.4 Sq M 2,677 Sq Ft / 248.7 Sq M
For indicative purposes only. Not to scale.
12 100 BUNHILL ROW, EC113 100 BUNHILL ROW, EC1
THE TENANTS
TENANCY TENURE
The property is multi-let to three tenants in The property is held Freehold.
accordance with the tenancy schedule below and
produces a current rent of £631,350 per annum,
which equates to a low average passing rent of
BUN
£47.37 per sq ft.
HILL
ROW
All of the leases are excluded from the security of tenure and
compensations provisions of sections 24-28 of The Landlord &
Tenant Act 1954 (as amended).
EET
STR
The property has an average weighted unexpired lease term of EQ
UER
CH
4.31 years to expiry and 2.72 years to breaks.
ET
TRE
VEN
UE
ER IN S
IN A UFF
CA
R D
FFE
H
DU
ILL
BUNHILL ROW
STR
ETE
Tenant Floor Area Area Lease Terms Rent Review Break Rent Rent Comments
(sq m) (sq ft) (£ pa) (£ psf)
3rd Floor 248.7 2,677 From: 17/03/2014
Palladium
2nd Floor 264.4 2,846 10 years £240,000 £43.45 - Bank guarantee held.
International Limited Expiry: 16/03/2024
Sub Total: 513.1 5,523
ADT Fire and 1st Floor 263.4 2,835 From: 29/09/2020 - 12 months rent free period which expires on
5 years £141,350 £49.86
Security PLC Sub Total: 263.4 2,835 Expiry: 28/09/2025 29th June 2021, the vendor will provide a top up.
From: 05/07/2016 - Tenant break option requires 6 months notice.
If not exercised then tenant is entitled to 5
Ground Floor 200.9 2,163 Expiry: 04/07/2026 months rent free.
Think Jam Limited Lower Ground Floor 260.8 2,807 10 years 05/07/2022 05/07/2022 £250,000 £50.30 - Rent deposit held.
Sub Total: 461.7 4,970 - Service charge cap of £79,043 per annum
(£15.90 per sq ft), reviewed annually linked to RPI.
- Underlet to Doddle Parcel Services Limited.
TOTALS 1,238.2 13,328 £631,350 £47.37
14 100 BUNHILL ROW, EC1THE TENANTS
TENANT COVENANTS
PALLADIUM ADT FIRE & SECURITY THINK JAM
Palladium International Limited is an established organisation ADT Fire and Security PLC is one of the UK’s largest and most Established in 2004. Think Jam Limited are a successful creative
working as consultants on behalf of governments, business and established alarm and security companies. They provide services and brand marketing company providing expertise within the
investors to help solve both their social & commercial challenges. to both commercial and residential properties and currently film, gaming and TV sectors. They recently announced a multi
protect over 237,000 homes in the UK. million pound strategic partnership with Dorman Media Holdings,
For the year ending June 2019 the company reported a turnover owned by Sir Lloyd Dorfman. Clients of Think Jam include
of £97,389,140, a pre tax profit of £21,041,908 and net assets For the year ending September 2019 the company reported a Twentieth Century Fox, The Stanley Kubrick Estate, Lionsgate
of £18,156,988. turnover of £348,083,000, pre tax profit of £24,261,000 and net and Entertainment One.
assets of £628,390,000.
thepalladiumgroup.com thinkjam.com
adt.co.uk
15 100 BUNHILL ROW, EC1MARKETS
MARKET COMMENTARY
Estimated Rental Value EC1 Office Market
We are of the opinion that the property is highly reversionary Old Street is now considered the centre for all emerging technical, The local office market is expected to improve further as a number
highlighted by the comparable evidence shown below. media and creative agencies. of larger high quality developments are being undertaken.
These businesses vary in size and range from start-ups through Traditionally regarded as a low cost property option for media and
to larger global companies. Prime EC1 rents are currently in the the creative industries that have been priced out of areas such as
excess of £75 per sq ft. 2018 saw vacancy rate down to only Soho and Covent Garden, Old Street is rapidly becoming a mature
3.8% overall. market. Demand from technology, media and creative businesses
has, over the last few years, powered the rise in office rents.
Investment Comparables Leasing Comparables
BACTA HOUSE, 24 COWPER STREET, CHAPTER HOUSE, 100 ST JOHN STREET STYLUS, VERSE BUILDING,
PEMBROKE WHARF, N1 EC1 BRUNSWICK PLACE, EC1 EC1 116 OLD STREET, EC1 BRUNSWICK PLACE, EC1
Q4 2020 Q4 2020 Q3 2020 Q3 2020 Q2 2020 May 2020
4,342 sq ft 7,742 sq ft 33,982 sq ft 2nd & 3rd floors 1st Floor 3rd floor (fitted)
£4.9m £9m £46m 9,966 sq ft 5,437 sq ft 2,121 sq ft
£1,128 per sq ft £1,162 per sq ft £1,353 psf £71.25 per sq ft £71.50 per sq ft £75.00 psf
4.56% 4.4% £4.48% Nuffield Foundation Greensill Capital UK Limited Kaizen
Acquired by a private investor Acquired by a private investor Acquired by a Private Investor 15 year term / 10 year break 5 year term / 3rd year break 3 year term
17-18 HAYWARDS PLACE, 90 BARTHOLOMEW CLOSE, 34-38 PROVOST STREET, THE BOWER, 76-78 CLERKENWELL ROAD, CHAPTER HOUSE,
EC1 EC1 N1 207-211 OLD STREET, EC1 EC1 BRUNSWICK PLACE, EC1
Q3 2020 Q2 2020 Q4 2019 Jan 2020 Sept 2019 June 2019
11,000 sq ft 30,929 sq ft 11,223 sq ft 15th floor 1st - 4th floors 3rd & 4th floors
£15.6m £48.51m £13.5m 11,331 sq ft 8,829 sq ft 10,572 sq ft
£1,418 psf £1,568 psf £1,202 psf £85.00 psf £67.80 psf £71.00 psf
4.21% 3.92% 4.71% Infosys WeWork Ebiquity
Acquired by La Francaise Group Acquired by Le Francaise Group Acquired by Private Investor 5 year term 15 year term / 10th year break 10 year term / 5th year break
16 100 BUNHILL ROW, EC1FURTHER INFORMATION
Value Added Tax Surveys Contact
The property has been elected for VAT purposes and it is The vendor will provide:
For further information or to arrange
anticipated that the sale will be treated as a Transfer of a - A full measured survey carried out by Plowman & Craven.
a viewing please contact one of:
Going Concern (TOGC). - A building survey carried out by Hollis.
All surveys are assignable and will be uploaded into
EPC Alexis Nicolas
the data room.
Energy Performance Certificates are available within the T 020 3667 5050
data room. M 07932 708 881
Investment Rationale
E alexis@springernicolas.co.uk
- Core City fringe location in the heart of Tech City
Service Charge
- Prominent corner refurbished media style building Ryan Springer
The budget year ending 2022 is estimated at £12.63 per sq ft.
- Low average passing rent of £47.37 psf T 020 3667 5050
Further details are available within the data room. - Highly reversionary in comparison to prime EC1 rents M 07932 792 531
E ryan@springernicolas.co.uk
- Opportunity to further enhance rental growth through
Planning upgrading the unrefurbished accommodation.
The property is located within the London Borough of Islington. - Average weighted unexpired lease terms of 4.31 years
to expiries and 2.72 years to breaks.
The property is not listed but is located within the Bunhill Fields
and Finsbury Square conservation area. - Approximately 60% of overall income is securely let to
undoubted covenants for an average term of 3.76 years.
Data Room - Low capital value of £889 per sq ft
- Freehold Stephen Gevertz
An electric data room is available for the property.
T 020 7580 4333
For access to the data room please contact M 07879 628 646
Proposal
Springer Nicolas or Lewis and Partners. E stephengevertz@lewisandpartners.com
The vendor is seeking offers in excess of £11,850,000 (Eleven
Million, Eight Hundred and Fifty Thousand Pounds) subject to
Joseph Rantor
contract and exclusive of VAT, which reflects a net initial yield of
T 020 7580 4333
5.00% after unadjusted purchaser’s costs of 6.8%. This reflects a
M 07976 599 374
low capital value of £889 per sq ft.
E josephrantor@lewisandpartners.com
Messrs Springer Nicolas and Lewis & Partners for themselves and for the vendors or lessors of this property for whom they act, give notice that: (i) these particulars are a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or
any part of an offer or contract; (ii) Messrs Springer Nicolas and Lewis & Partners cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation, and other details contained herein, and prospective purchasers or
tenants must not rely on them as statements of fact or representations, and must satisfy themselves as to their accuracy; (iii) no employee of Messrs Springer Nicolas and Lewis & Partners has any authority to make or give any representation or warranty or enter into any contract
whatever in relation to the property; (iv) rents, prices, premiums and service charge quoted in these particulars may be subject to VAT in addition; and (v) Messrs Springer Nicolas and Lewis & Partners will not be liable, in negligence or otherwise, for any loss arising from the use of
these particulars. (vi) the reference to any plant, machinery, equipment, services, fixtures or fittings at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it is capable of fulfilling its intended function. Prospective purchasers/
tenants should satisfy themselves as to the fitness of such items for their requirements. May 2021.
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