TRINITY HOUSE ASHFORD KENT - Allsop · trinity house, units 110 & 120, eureka park, upper...
Transcript of TRINITY HOUSE ASHFORD KENT - Allsop · trinity house, units 110 & 120, eureka park, upper...
TRINITY HOUSE, UNITS 110 & 120, EUREKA PARK, UPPER PEMBERTON, KENNINGTON, ASHFORD, KENT, TN25 4AZ
TRINITY HOUSE ASHFORD
KENT
TRINITY HOUSE ASHFORD
KENT
OFFICE INVESTMENT OPPORTUNITY WITH 12 YEARS UNDOUBTED INCOME
INVESTMENT CONSIDERATIONS ■ Modern office building prominently situated at the front of Eureka Park,
a high quality landscaped Business Park of approximately 96 acres.
■ Ashford is an affluent south east town, well located on Junctions 9 & 10 of the M20 Motorway, as well as having excellent high speed rail links to both London and Continental Europe.
■ The town is attracting significant investment and regeneration proposals.
■ Detached self-contained building providing 20,737 sq ft (1,926.5 sq m) of modern office accommodation arranged over two storeys.
■ Let to the undoubted covenant of Kent Community Health NHS Foundation Trust, who are effectively funded by the UK Government, with an unexpired term of approximately 12 years.
■ Current rent passing of £383,635 pa recently re-based to £18.50 psf.
■ Excellent on site car parking ratio of 1:273 sq ft.
■ Offers are sought in excess of £5,550,000 (Five Million Five Hundred and Fifty Thousand Pounds). This reflects a net initial yield of 6.5% allowing for purchaser’s costs of 6.6%. This represents a low capital value of £266 psf.
TRINITY HOUSE, UNITS 110 & 120, EUREKA PARK, UPPER PEMBERTON, KENNINGTON, ASHFORD, KENT, TN25 4AZ
HIGH SPEED RAIL JOURNEY TIMES
LONDON ST PANCRAS
38 minutes
CALAIS
31 minutes
PARIS GARE DE NORD
1 hour 52 minutes
BRUSSELS-MIDE/ZUID
1 hour 39 minutes
M20
M20
M20High St
High St
Victoria Way
Victoria Way
Leacon Rd
Brookfield Rd B2229
Beaver Ln
B2229 Norman Rd
Newtown Rd
Nor
th S
t A
2042
C
anter
bury Rd
Chart Rd
A20 Maidstone Rd
Maidstone Rd
New St
West
St S
omerset Rd A292 Mace Ln
A292 Elwick Rd
A292
A2042 Romney M
arsh Rd
A20
42
Stat
ion
Rd
A292 Hythe Rd
A292 Hythe Rd
A2070 W
ellesborough Rd
Kennington Rd A2
070
A2024 Faversham
Road
A28 Simone Weil Ave
A28 A2042 C
anterbury Rd
A2
8
Tem
pler
Way
A20 Fougeres Way
A20
70
Trin
ity R
oad
Trin
ity R
oad
AshfordInternational
VictoriaPark
AshfordDesigner
Outlet
Eureka Park
Kennington
Eureka Leisure Park
Eurogate Business
Park
Henwood Industrial
Estate
Europe
London
Ram
sgat
e
TRINITY HOUSE ASHFORD
KENT
LOCATION
Ashford is a historically significant Kent market town with a population of approximately 118,000. The town is located approximately 89 km (55 miles) south east of London, 22.5 km (14 miles) west of Canterbury and 25 km (15 miles) north west of Folkestone.
Ashford benefits from excellent transport links located directly between Junctions 9 and 10 of the M20 motorway linking the town to the M25 (London’s orbital motorway) and the national motorway network.
The town also benefits from excellent rail links with international and domestic train services available from Ashford International. The arrival of the high speed domestic rail service to Ashford has firmly established it as a key commuter and business location benefiting from almost unrivalled access to UK cities as well as continental Europe via Eurostar.
London Gatwick Airport is located 93 km (58 miles) to the west.
Gatwick
Heathrow
A217
A264
A264
A272
A229
A228
A299
A256
A259
A253
A249
A259
A2070
A2042
A272
A283
A23
A22
A22
A26
A26
A26
A26 A28
A20
A28
A21
A21
A27A27
A27
A24
A24
A3
A2
A2
A2
M4
M3
M2
M1M25
M10
M40
M25
M25
M23
M26
M25 M20
M20
M20
M25
M11
A1(M)Harlow
■
WoodfordGreen
■
■
Potters Bar
LONDON
Hatfield■
Dartford■
Bromley■
Gravesend■
Gillingham■
Chatham■
Shoreham■
Sittingbourne■
Croydon■
Biggin Hill■
Romford■
Barking■
Sevenoaks■
Tonbridge■
RoyalTunbridge
Wells■
Maidstone■
Aylesford■
Sheerness■
Isle ofSheppey
Staplehurst■
Camber■ Dungeness
■
High Halden■
Hurst Green■
EastGrinstead
■
Crawley
■
Horsham
Billingshurst■
Edenbridge■
Balcombe■
■
Hassocks ■
Battle
Lewes■
■
Worthing Newhaven■
■
SeafordBeachyHead
Eastbourne■
Bexhill■
Hastings■
Folkestone■
Dover■
Deal■
Canterbury■ Sandwich
■
Ramsgate■
Margate■
Herne Bay■Whitstabe
■
Faversham■
Littlehampton■
BognorRegis
■
■
Dorking
Guildford■
Reigate■
Leatherhead■
Staines
Slough■
■
HemelHempstead
St Albans■
HighWycombe
■
Watford■
Wembley■
Uxbridge■
Ruislip■
BrentCross
■
Harrow■
Brighton■
ASHFORDASHFORD
Harefield■
Borehamwood■
Enfield■
■
Windsor
Woking■
Epsom■
Sutton■
■
Clapham
Swanley ■
Fulham■
■
Weybridge
Ashford
Richmond ■Kingston
Upon Thames■
Billericay■
Stanford-le-Hope■
Benfleet■
■CanveyIsland
Brentwood■
Chelmsford■
■
ChippingOngar
Basildon■
SITUATION
The subject property fronts the main access road to Eureka Business Park and is situated at the northern gateway. The units are within close proximity to the Eureka Place neighbourhood centre which offers retail, along with food and beverage amenities.
The site is easily accessible via the road network, with Trinity Road (A251) providing access to Junction 9 of the M20 and to Junction 6 of the M2.
Path (um)
URY ROAD
UPPER
PEMBERTON
21
11
25
El
StaSub
160
100
110
120
190
130
Shelter
El Sub Sta
200
210
0m 10m 20m 30m
OFFICE INVESTMENT OPPORTUNITY WITH 12 YEARS UNDOUBTED INCOME
TENURE
The property is held long leasehold from Trinity College, Cambridge for a term expiring on 23rd December 2160 on a current ground rent of £50 pa. The ground rent doubles every 25 years.
®
© Crown Copyright, ES 100004106. For identification purposes only.
TRINITY HOUSE ASHFORD
KENT
Allocated car parking with the right to park until 2160.
Eureka Park is a major 96 acre Business Park comprising in excess of 300,000 sq ft of built business space with outline consent for a further 1.1 million sq ft. Current occupiers within the park include Smiths Medical International, Invicta Foods, Brakes, Verifone and RIFT Accounting. There is also Eureka Leisure Park located within close proximity to the property with several national occupiers including Cineworld, Bannatyne’s Health, Burger King, KFC, McDonalds, Nandos, Pizza Hut, Premier Inn and Travelodge.
DESCRIPTION
The property, built in 2008, comprises a modern detached office building combining two units. The building is of steel frame construction, clad with full height glazed curtain walling under a flat PVC membrane roof.
Internally both units comprise modern office accommodation each serviced with WCs, kitchenettes and an eight person KONE passenger lift.
The office accommodation has the benefit of secure floor key card access, VRV air conditioning, 150mm raised access flooring and suspended ceilings with LG3 light fittings.
The property benefits from 76 on-site car parking spaces providing an excellent ratio of 1:273 sq ft.
FLOOR AREAS
The two units provide the following approximate net internal floor areas:
Unit Floor Sq M Sq Ft
110 & 120 Ground 951.3 10,240
First 949.2 10,217
Entrance Lobbies 26.0 280
Total 1926.5 20,737
TRINITY HOUSE, UNITS 110 & 120, EUREKA PARK, UPPER PEMBERTON, KENNINGTON, ASHFORD, KENT, TN25 4AZ
TRINITY HOUSE ASHFORD
KENT
TENANCY
The property is let to Kent Community Health NHS Foundation Trust on two separate but identical FRI leases for a term of 12 years from 25th December 2016 and expiring on 24th December 2028 (approximately 12 years unexpired) at a total current rent of £383,635 pa (£18.50 psf).
The tenant has been in occupation since construction in 2008 and the rent has been reduced from £416,103 pa as part of the re-gear. An 18 month rent-free period has been agreed which the vendor will top up.
There are 5 yearly rent reviews with the next rent review in December 2021.
SERVICE CHARGE
The estate service charge budget for the year dated 01/07/2016 - 30/06/2017 is £81,650 to which the tenant currently contributes a combined amount of £33,331 pa for both units. Further information is available on request.
COVENANT
Kent Community Health NHS Foundation Trust is one of the largest NHS community health providers in England, serving a population of about 1.4 million across Kent and 600,000 in East Sussex and London. The Trust employs more than 5,000 staff providing wide-ranging care for people in the community.
Funding for the NHS comes directly from taxation and is granted to the Department of Health by Parliament. Effectively the NHS Trusts are Government funded entities.
OFFICE INVESTMENT OPPORTUNITY WITH 12 YEARS UNDOUBTED INCOME
TRINITY HOUSE ASHFORD
KENT
Guy Scott Plummer020 7543 [email protected]
Alex Butler020 7543 [email protected]
Jonathan Butcher020 7543 [email protected]
For further information or to make arrangements for viewing please contact:
www.allsop.co.uk
TRINITY HOUSE ASHFORD
KENT
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. Design CommandD www.commandHQ.co.uk 01.17
PROPOSALOffers are sought in excess of £5,550,000 (Five Million Five Hundred and Fifty Thousand Pounds). This reflects a net initial yield of 6.5% allowing for purchaser’s costs of 6.6%. This represents a low capital value of £266 psf.
EPC
The property has been rated D on the EPC scale (92). EPC certificate is available on request.
VAT
We understand the property is elected for VAT which will be chargeable on the purchase price. We would expect the transaction to be treated as a transfer of going concern (TOGC).
CAPITAL ALLOWANCES
Capital Allowances are available. Further information available upon request.
DATAROOM
For access to the Allsop Dataroom please use the following link: www.datarooms.allsop.co.uk/register/ashford