Post on 09-Jun-2020
0112A Rodborough Rd – April 2012 IM Document
Ap
ril 2
012
Information Memorandum for the sale of
12A Rodborough RdFrenchs Forest NSW
12A Rodborough Rd – April 2012 IM Document
12A Rodborough Road, Frenchs Forest
High quality office & warehouse investment
For Sale by expressions of interest Closing Thursday 31 May 2012
7,286sqm + 179 car spaces
Major tenant Integrated Technology Services
Passing income $900,950pa net approx.
Potential to add value through further leasing
Information Memorandum
12A Rodborough Rd – April 2012 IM Document
Introduction ................................................................... 01
Executive Summary ....................................................... 02
Location ........................................................................ 03
Description .................................................................... 04
Lease Summaries .......................................................... 05
Financial Summary ........................................................ 07
Investment Summary ..................................................... 08
Sale Process ................................................................. 09
Disclaimer ...................................................................... 09
Annexure 1 – Tenancy Schedule .................................... 10
Contents
01 12A Rodborough Rd – April 2012 IM Document
We are pleased to offer for sale by expressions of interest two excellent investments in the hi-tech business area of Frenchs Forest north of Sydney. The properties are on adjoining sites with separate title and can be sold individually or in one line.
12A Rodborough Road comprises a high quality office building plus 5 warehouse units. Total area is approximately 7,286sqm with 179 car spaces. The major tenant is Linfox owned Integrated Technology Services which has recently taken an additional 1,250sqm of offices and now occupies 50% of the building on leases running to 2017.
The property has a current income of approximately $900,950pa net and an estimated income fully leased of $1,575,000pa net.
� Office & warehouse complex
� 6m clearance warehouse
� 61% occupied
� Passing Income $900,950pa
� 7,286sqm + 179cars
� High quality offices on 3 levels
� WALE of 2.8yrs (By Income)
� Potential income $1,575,000pa
Separate Information Memorandum is available for the adjoining property 12 Rodborough Road. This comprises a 3 level office building of approximately 2,774sqm plus 100 car spaces, fully leased to Channel Nine Australia, until 2020 with a further 10 year option. Channel Nine has made a substantial investment in fitting out the property as their National Playout Centre.
The net income is approximately $658,000pa rising by 1 October to approximately $684,000pa
� 3 Level office of 2,774sqm
� Leased to 2020 + 10 yr option
� WALE of 8.25yrs (By Income)
� 100% Leased Channel Nine
� Income $658,325pa net approx.
� Major expenditure by tenant
If purchased together 12 & 12A Rodborough Road offers the following investment profile:
� 2 buildings totalling 10,060sqm
� ITS occupy 3,657sqm – on leases to 2017 + 5 year option
� 72% leased overall
� Passing income $1,559,275pa net
� 65% office / 35% warehouse
� Channel Nine occupy 2,774sqm on leases to 2020 + 10 year option
� Overall WALE 4.5yrs by income
� Estimated income fully leased $2,200,000pa net
Expressions of interest to purchase the above properties, either together or individually close 4.00pm Thursday 24 May 2012.
We look forward to your further interest.
Hartigan Bolt 02 9955 9211
David Bolt 0439 032 008 david.bolt@hartiganbolt.com.au
Chris Hartigan 0410 304 496 chris.hartigan@hartiganbolt.com.au
Jones Lang LaSalle 02 9938 2100
Martin O’Brien 0402 424 767 Martin.Obrien@ap.jll.com
Introduction
0212A Rodborough Road – April 2012 IM Document
Property 12A Rodborough Road, Frenchs Forest
Description ▪ Mixed office (52%) and warehouse (48%) complex
▪ 5 Warehouse units on ground level with 6m clearance and access via steel roller shutter doors
▪ 3 floors of modern air-conditioned offices on levels 1 to 3 served by 2 passenger lifts
Areas (Approximate)
L3 Office 1,250.0sqm ITS
L2 Office 1,250.0sqm Vacant
L1 Office 1,306.0sqm ITS
Sub Total 3,806.0sqm
W1&2 Warehouse 1,101.0sqm ITS
W3 Warehouse 774.4sqm Vacant
W4 Warehouse 802.4sqm Telectran
W5 Warehouse 802.5sqm Vacant
Sub Total 3,480.3sqm
Total 7,286.3sqm
Parking 179 spaces – 118 secure spaces at basement and 61 on grade
Site Site area 8,725sqm
Zoned G4 Rodborough Road – Warringah LEP 2000
Leases Linfox owned Integrated Technology Services (ITS) occupy 50% of the building. ITS lease 2 levels of offices plus warehouse 1 & 2 for a term expiring 3 April 2017.
Telectran International occupy warehouse 4 on a lease expiring 30 April 2013.
Income Approximately $900,950pa net passing.
Estimated income fully leased $1,575,000pa net.
NAberS Zero Star NABERS Energy Rating
Sale Details Expressions of interest close 4.00pm Thursday 31 May 2012
Executive Summary
03 12A Rodborough Rd – April 2012 IM Document
Location
The property is located on Sydney’s North Shore approximately 18kms north of the Sydney CBD and close to Sydney’s Northern Beaches.
Frenchs Forest has a large hi-tech business district with major occupiers including Del Computers, Miele, Ricoh, Dow Chemicals and Pharmaxis.
The property is on the north side of Rodborough Road accessed from Warringah Freeway via Allambie Road.
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Indicative location
0412A Rodborough Rd – April 2012 IM Document
12A Rodborough Road comprises a mixed office and warehouse complex totalling 7,286sqm set back from Rodborough Road on a large landscaped site of 8,725sqm with 118 secure car spaces and 61 on grade.
The building provides 5 ground floor warehouse units with 6m internal clearance accessed via steel roller shutter doors. The warehouse units each have loading access from the driveway. Internally they provide good clear storage and distribution space.
The office building which is positioned to the front of the site is accessed via automatic glass doors which open to the office foyer and the 2 passenger lifts which serve all floors plus the basement car par.
The offices are high quality with large 1,250sqm / 1,300sqm floor plate and have windows on all sides providing excellent natural light.
Areas
Level Area Occupier
Level 3 1,250.0sqm ITS
Level 2 1,250.0sqm Vacant
Level 1 1,306.0sqm ITS
Total 3,806.0sqm
Warehouse
Level Area Occupier
W1 & 2 1,101.0sqm ITS
W3 774.4sqm Vacant
W4 802.4sqm Telectran Int
W5 802.5sqm Vacant
Total 3,480.3sqm
Nabers
The property has a Zero Star Nabers Energy rating. ALL
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Description
05 12A Rodborough Rd – April 2012 IM Document
Major occupier Integrated Technology Services Pty Ltd (ITS) is owned by Linfox. ITS specialise in the maintenance of ATM’s and other technology for banks, retailers and computer companies – source www.i-t-s.net.au
ITS has recently expanded by taking the whole of level 3 and now occupy 50% of the building.
A summary of some of the lease terms is set out below but purchasers will be provided with copies of all leases and must rely on their own enquiries.
ITS Lease 1
Area Level 1 offices & Warehouse 1 & 2
Lessee Integrated Technology Services Pty Ltd
Commencement 4 April 2006
Expiry 3 April 2017
Option 5 Years
Outgoings Paid by the lessee
Rent See tenancy schedule – Annexure 2
Reviews Greater of CPI or 3%
Bank Guarantee 3 months rent
Lease Summaries
0612A Rodborough Rd – April 2012 IM Document
ITS Lease 2
Area Level 3 offices
Lessee Integrated Technology Services Pty Ltd
Commencement 1 March 2012
Expiry 3 April 2017
Option 5 Years
Outgoings Paid by the lessee
Rent See tenancy schedule – Annexure 2
Reviews CPI
Bank Guarantee 3 months gross rent
Telectran International – www.telctran.com occupy warehouse unit 4 on the following outline lease terms:
Area Warehouse 4
Lessee Telectran International Pty Ltd
Commencement 1 May 2008
Expiry 30 April 2013
Outgoings Paid by the lessee
Rent See tenancy schedule – Annexure 2
Reviews 3%
Bank Guarantee 3 months gross rent
There are various leases in place with telco’s for roof top aerials and equipment. Summary details are contained in the tenancy schedule in Annexure 2 and copies of the leases will be supplied for due diligence.
Income Outgoings Budget 2011/12
Office Rents $613,593
Outgoings Recovered Offices
$180,505
Warehouse Rents $272,128
Outgoings Recovered Warehouse
$66,619
Car Park Income $87,500
Roof Top Income $71,207
Total Income $1,291,552
Less Budgeted Outgoings Offices
$268,791 $70.62psm
Less Budgeted Outgoings Warehouse
$121,811 $35.00psm
estimated Current Net Income
$900,950
Potential Income Fully Leased – Assuming
L2 Offices @ $236psm net
$295,000
Outgoings $88,275
Warehouse 3 @ $150psm net
$116,160
Outgoings $27,104
Warehosue 5 @ $150psm
$120,375
Outgoings $28,088
Sub Total $675,002
Estimated Net Income Fully Leased
$1,575,952
Council Rates $21,855.82
Water Rates $3,535.28
Water Usage $7,444.32
Land Tax $82,528.71
Sub Total Statutory
Insurance $13,135.50
A/C Contract $9,743.58
A/C R&M $18,849.40
Cleaning $15,540.00
Window Cleaning $7,590.00
Electricity $67,000.00
Fire Protection $16,090.00
Lifts $22,900.00
Electrical Repairs $5,000.00
Repairs & Maintenance $12,000.00
Lights & Emergency Lighting
$13,000.00
Plumbing $5,000.00
Pest Control $1,800.00
Garden $18,000.00
Security $7,750.44
Auto Door $5,885.00
Building Supervisor $12,000.00
Management Fees $20,901.39
Misc $3,052.00
Total $390,601.44
Apportioned As Follows
Warehouse – 3,480.3sqm $35.00psm Fixed
$121,810.50
Offices – 3,806.0sqm $70.62psm
$269,790.94
07 12A Rodborough Rd – April 2012 IM Document
Financial Summary
12A Rodborough Rd – April 2012 IM Document 08
12A Rodborough Road offers some of the best office and warehouse space available in Frenchs Forest. The combination of easily accessible warehouse with high quality offices is ideally suited to the market and has been instrumental in securing the growing occupation of ITS.
As an investment 12A Rodborough Road offers the following features:
� Impressive office and warehouse building of 7,286sqm + 179 car spaces
� 52% office and 48% warehouse
� High quality large floor plate offices with excellent natural light
� 5 modern warehouse units with 6m internal clearance
� Major tenant Linfox owned Integrated Technology Services occupy 50%
� Passing income approximately $900,950 net
� Estimated income fully leased $1,575,000pa net
If 12A Rodborough Road is purchased together with 12 Rodborough Road the combined property will offer the following investment features:
� 2 buildings totalling 10,060sqm + 279 car spaces
� 65% office and 35% warehouse
� High quality offices
� Modern high clearance warehouse
� Major tenants ITS 36% and Channel Nine 28%
� 4.5 year WALE (By Income)
� 72% leased
� Passing income approximately $1,559,275pa net
� Potential income approximately $2,200,000pa net
Investment Summary
09 12A Rodborough Rd – April 2012 IM Document
12 & 12A Rodborough Road are being offered for sale by expressions of interest (EOI) closing at 4.00pm, Thursday 31 May 2012. EOI’s may be submitted for the properties individually or in one line.
Expressions of interest must be submitted in writing to the vendor’s agents and should include:
� Full details of the purchaser / company
� Purchase price
� Timing for exchange and settlement
� Any conditions / due diligence requirements
� Confirmation that funding is in place
� Solicitors details
Due diligence material will be available to interested parties upon request and will include copies of leases, sale contract, plans, Nabers rating. Separate Information Memorandum and due diligence information is available for 12 Rodborough Road.
All inspections must be made by prior appointment with the vendor’s agents.
Hartigan Bolt 02 9955 9211 L11, 75 Miller Street North Sydney 2060
David Bolt david.bolt@hartiganbolt.com.au
Chris Hartigan chris.hartigan@hartiganbolt.com.au
Jones Lang LaSalle 02 9938 2100 1 Dale Street Brookvale 2100
Martin O’Brien Martin.Obrien@ap.jll.com
Disclaimer
This report has been prepared by Hartigan Bolt Pty Ltd and Jones Lang LaSalle for general information purposes only and does not make any warranties or representation in relation to the property. This document does not constitute a contract or offer to sell.
No warranty is given as to accuracy, completeness or currency and no responsibility is accepted for any errors or omissions. This report has been prepared using information provided by sources other than Hartigan Bolt and Jones Lang LaSalle and may be based on assumptions. The report may include material and information that has been passed on by the registered owner to Hartigan Bolt or Jones Lang LaSalle. Hartigan Bolt and or Jones Lang LaSalle are merely passing on such information and cannot guarantee its accuracy.
The report may include certain statements or representations including descriptions, dimensions and financial details. Any such statements or representations must not be relied upon as statements or representations of fact and purchasers must rely on their own enquiries, investigations and inspections.
Statements containing estimates or projections of past or future performance are given as opinions only and may be based on assumptions which are not expressly stated.
This report is provided for the recipient only and must not be passed on or copied without the prior approval of Hartigan Bolt and Jones Lang LaSalle.
Sale Process
12A Rodborough Rd – April 2012 IM Document
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Annexure 1
Tenancy Schedule
Annexure 1 – Tenancy Schedule
12A Rodborough Rd – April 2012 IM Document11
NotesN
OTE
S
12A Rodborough Rd – April 2012 IM Document 12
© Copyright 2012 Hartigan Bolt Pty Ltd
The information contained in this publication is for guidance purposes only and must not be relied upon by purchasers or lessees. Whilst the information has been obtained from sources that are deemed to be reliable no warranty is given as to accuracy and no liability will be accepted. All descriptions, terms and areas are approximate. No guarantee is given as to the continued availability of the properties described.
Designed by Equation Corporate Design Pty Ltd. 02 9929 9800 www.equation.com.au
Hartigan bolt Level 11, 75 Miller Street North Sydney NSW 2060 Australia
02 9955 9211 www.hartiganbolt.com.au
Jones Lang LaSalle1 Dale StreetBrookvale NSW 2100 Australia
02 9938 3122 www.joneslanglasalle.com.au