Protected: 18% Freehold Office Investment Opportunity

Accommodation

The property provides the following net and gross internal floor areas:

A set of floor plans is available to download and the measured survey report will be re-addressed to a purchaser at a cost of £1,445 + VAT.

We have provided a car parking plan showing spaces allocated to Building 2 of 152 and for Building 3 car parking totalling 110.

Site

We have supplied a historic Phase I Environmental Report from 2014 which was commissioned following the development of the site. The report is favourable in terms of environmental risk.

In addition, a Stage 1 Environmental Report was carried out by Access Environment in February 2024 which concluded that “the overall environmental risk at the site is low moderate” and “Subject to continued current use…the level of environmental risk associated with the site is assessed to be acceptably low for the current use.” A copy of this report is available to download.

Tenure

Freehold.

Tenancies

Please refer to the tenancy schedule available to download under “Downloads”.

In summary, the tenancy position is as follows:

Service Charge

Please refer to the tenancy schedule and service charge information provided in the data room. There are no shortfalls to the landlord.

Rates

The multiplier is 0.4990/0.5120

Covenant

For Building 2:
G4S Facilities Management (UK) Limited has reported the following figures:

G4S Facilities Management (UK) Limited is a subsidiary of G4S Regional Management (UK&I) Limited, with the ultimate owner being Atlas Ontario LP.

G4S Regional Management (UK&I) Limited has reported the following figures:

Atlas Ontario LP Consolidated Financial Statements:

G4S specializes in delivering employment support services across the UK. The company collaborates with local organizations to provide frontline assistance to targeted groups, aiding them in securing sustainable employment opportunities. Their Contact Centre serves as a central hub, offering guidance on various government regulations, including childcare benefits and pensions. For further information, please see here. 

G4S is a British multinational private security company headquartered in London offering a range of services including the supply of security personnel, monitoring equipment, response units and secure prisoner transportation. The company has operations in more than 85 countries employing over 800,000 people, making it one of the world’s largest private employers. In April 2021, G4S was acquired by Allied Universal, a global leader in integrated security solutions. For further information visit www.g4s.com.

For Building 3:
Propensio Finance Limited has reported the following figures:

Established in 2010, Propensio is a specialist lender who focus on lifestyle products for borrowers of credit types. The company provides a range of flexible solutions with loans across a variety of sectors. For further information visit www.propensio.co.uk.

Equans Regeneration Limited has reported the following figures:

[Note: Dec 2022 Accounts Overdue]

The principal activity of the company is to provide services which include the refurbishment of social housing such as planned maintenance and capital works, new build social housing for rent, new build elderly accommodation, new build public buildings and the refurbishment and extension of educational facilities. The Company also acts as a holding company of a group of companies “the Regeneration Group”, which are also principally engaged in the refurbishment, maintenance and construction of residential dwellings.

In the UK & Ireland, Equans is a provider of technical services, FM, regeneration and energy services with over 15,000 employees. Globally, Equans is a world leader in energy services with nearly 100,000 employees working in more than 50 countries with an annual turnover of over 17 billion euros. See www.equans.co.uk.

The ultimate parent company is Bouygues, a French engineering group listed on the Euronext Paris exchange and is a blue chip in the CAC 40 stock market index. The group specialises in construction, real estate development, media, and telecommunications. In 2021, Bouygues acquired Equans from Engie in a transaction worth €7.1 billion. Visit www.engie.com.

VAT

The property has been registered for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

Proposal

We are instructed to seek offers in the region of £2,275,000 (Two Million, Two Hundred and Seventy Five Thousand Pounds), subject to contract, to reflect a net initial yield of 18% and capital value of £39 per sq ft / £423 per sq metre.

Having regard to the landlord’s shortfall, the net initial yield would be 14.9% which will rise to 20% on letting of the vacant suite.

Please note that the purchase will be re-charged the costs of the measured survey (£1,445 + VAT), searches (£3,035.26) and Environmental Report (£929.19) which are provided in the data room.

Please note that a purchaser will be charged a Transaction Fee of £10,000 plus VAT.

Clicktopurchase® Data Rooms

Please see below links for the clicktopurchase® data room for each property. These were created to facilitate the online clicktopurchase® of each property individually. Our client is now seeking to sell as a whole. Whilst the data rooms currently provide for individual transfers, a new transfer for the whole and the Special Conditions of Sale for the whole will be available shortly.

Building 2 – Data Room


Building 3 – Data Room

Investment Consideration

1. The opportunity to acquire a high yielding freehold office investment

2. The investment provides secure income

3. The property is situated within an existing business park

4. Attractive lot size

5. Attractive yield profile of 18% net initial

6. Low capital value

7. Potential income yield of 20%