37 Mark Road, Hemel Hempstead, HP2 7DN - Allsop · 37 Mark Road, Hemel Hempstead, HP2 7DN Location...
Transcript of 37 Mark Road, Hemel Hempstead, HP2 7DN - Allsop · 37 Mark Road, Hemel Hempstead, HP2 7DN Location...
Business Space Investment
South East Business Space Investment Opportunity
37 Mark Road, Hemel Hempstead, HP2 7DN
Investment Considerations ■ Modern south east business space investment opportunity
■ Excellent situation being in close proximity to the town centre and junction 8 of the M1
■ Let to excellent covenants of Citysprint (UK) Ltd and ADT Fire & Security Plc
■ A new letting off a low base rent of £6.82 per sq ft to Citysprint
■ Opportunity to re-gear the ADT lease
■ Offers in excess of £550,000 (Five Hundred and Fifty Thousand Pounds)
■ Attractive net initial yield of 21.78%
■ Low capital value of £43.17 per sq ft
37 Mark Road, Hemel Hempstead, HP2 7DN
LocationHemel Hempstead is located in the county of Hertfordshire, approximately 25 miles (40 km) northwest of London, 11 miles (17 km) north of Watford and 9 miles (14 km) south of Luton. The town benefits from excellent road communications being situated approximately 1 mile (1.6 km) to the west of the M1 motorway (junction 8), accessed via the A414 (Breakspear Way), and the M25 motorway (junction 20), which is located approximately 3 miles (4.8 km) to the south east, accessed via the A41.
The town is well connected to the national railway network with a fastest journey time of approximately 25 minutes to London Euston. Hemel Hempstead is well served by several major airports being approximately 25 miles (42 km) from Heathrow airport, 8.5 miles (14 km) from Luton airport and 29 miles (46 km) from Stansted airport. Heathrow
Gatwick
StanstedLuton
J27J25J23
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M4 M4M4
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Harlow
Bishop’sStortford
Epping
Chigwell
Potters Bar
Knebworth
Hertford
Luton
Aylesbury
DunstableStevenage
LONDON
Hatfield
Dartford
Bromley
Gravesend
Gillingham
Shoreham
Rochester
Sittingbourne
Croydon
Biggin Hill
Romford
Sevenoaks
Tonbridge
RoyalTunbridge
Wells
Maidstone
Snodland
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StaplehurstPaddock
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East GrinsteadCrawley Three Bridges
Horley
Horsham
NorthHorsham
HaywardsHeath
Burgess Hill
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DorkingGuildford Reigate
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HighWycombe
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RuislipHarrow Brent
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StamfordHill Walthamstow
Stratford
SouthOxney
Rickmansworth
Harefield
Borehamwood
North Finchley
EnfieldBarnet
Windsor
WokingEpsom
Chessington
Tolworth
Sutton
Clapham
Swanley
Fulham
Weybridge
Ashford
RichmondHounslow
KingstonUpon Thames
BillericayWickford
Stanford-le-HopeSouthend-on-SeaBenfleet
CanveyIsland
Brentwood
Chelmsford
ChippingOngar
Basildon
Welwyn GardenCity
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High S
treetG
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LeverstockGreen Road
Wood Lane E
nd Wood Lane End
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Cleveland Rd
Swallowdale Lane
Trees Lane
Bound
ary Way
Buncefield Lane
Green Lane
Three Cherry
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A414 Breakspear Way
A414 St.A
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MaylandsWood
MARK ROAD
AVEBURY COURT
El Sub Sta
Hemel HempsteadIndustrial Estate
5
1
17
Mark House
39
12
38
Forsyth House
0m 10m 20m 30m
Ordnance Survey © Crown Copyright 2013. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250
© Crown Copyright, ES 100004106. For identification purposes only.
DescriptionThe property comprises 2 detached buildings arranged over ground and first floors.
Unit A & B are of the same specification with the ground floor suitable for workshop / assembly /storage space or further offices and the first floor being fitted out as office accommodation. The first floor of Unit A has been recently refurbished to include air conditioning cassettes to first floor.
Unit A benefits from 20 car parking spaces giving a ratio of (1:258). Unit B benefits from 38 car parking spaces giving a ratio of (1:199).
All the accommodation benefits from the following specification:-
• Loading door (height 2.86m, width 2.86m)• Central heating• Open plan office accommodation• WC’s on both floors
VATThe property is not elected for VAT therefore VAT will not be payable on the purchase price.
TenureFreehold
Business RatesWe understand the rateable value and rates payable are as follows assuming the current poundage multiplier of 0.462.
Rateable Value Rates Payable
Unit A £67,500 £31,182
Unit B £64,000 £29,568
SituationThe property is located in the principal business district of Hemel Hempstead being 2 miles east of the town centre and 3 miles east of Hemel Hempstead rail station. The property is strategically situated on the western edge of Hemel Hempstead Industrial estate, only 1.3 miles west of Junction 8 of the M1. Mark Road, adjacent to Maylands Avenue, has a mixture of office and light industrial accommodation, and is separated from the residential accommodation to the west and north by Widmore Wood and Maylands Wood.
The Maylands Avenue Business District comprises a range of developments, with high profile occupiers including Royal Mail, BSI, and Amazon. The Campus, located within this Business District, is to the north west of the property, with occupiers including Steria Ltd and Fenton Packaging. Other developments and occupiers include DSG Retail office headquarters, The People Building, which is part let to ASOS.com, and Breakspear Park, where tenants include BP and Regus.
Dacorum Borough Council has adopted the Maylands Master Plan, which seeks to ‘unlock the potential that Maylands has to become the leading location for business in the East of England and beyond’.
Unit Tenant Floor NIA(Sq M)
NIA(Sq Ft)
Lease Start
Lease Expiry
Break Rent (£psf)
Comments
A Citysprint (UK) Limited
GroundFirst
Sub Total
231.89247.96479.85
2,496 2,669 5,165
17/01/2014 16/01/2019 16/01/2018 £35,250 (£6.82)
3 months rent free granted as 50% rent over first 6 months. Vendor to top up. Schedule of condition
B ADT Fire & Security Plc
GroundFirst
Sub Total
350.22353.59703.81
3,769 3,806 7,575
25/03/1988 24/03/2013 £91,500 (£12.07)
Holding over
Total 1,183.66 12,740 £126,750
Tenancy Schedule
Covenant InformationCitysprint (UK) Limited (04327611)
31/12/2010 31/12/2011 31/12/2012
Turnover £61,065,419 £74,307,554 £101,106,299
Pre Tax Profit £3,866,488 £3,861,861 £5,059,384
Total Net Worth £7,467,450 £3,175,406 £9,209,953
ADT Fire & Security Plc (01161045)
24/09/2010 30/09/2011 28/09/2012
Turnover £362,452,000 £363,384,000 £360,532,000
Pre Tax Profit £1,847,000 £17,972,000 £31,738,000
Total Net Worth £429,056,000 £442,023,000 £470,021,000
Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. 01.14
For further information or to make arrangements for viewing please contact:
James Lawson020 7543 [email protected]
Guy Scott Plummer020 7543 [email protected] www.allsop.co.uk
37 Mark Road, Hemel Hempstead, HP2 7DN
Proposal Our clients are seeking offers in excess of £550,000 (Five Hundred and Fifty Thousand Pounds), a purchase at this level will show a net initial yield of 21.78% assuming usual purchasers costs of 5.8% and a low capital value of £43.17 per sq ft.
EPC