robinsonlayer.co.uk

Transcription

1 robinsonlayer.co.uk CHARTERED COMMERCIAL PROPERTY SURVEYORS FREEHOLD OFFICE INVESTMENT 2 units totalling approx 342 m² (3,680 ft²) with 12 car spaces FOR SALE TOGETHER, OR AVAILABLE INDIVIDUALLY 3c and 3d Prospect Point, St Thomas Place Cambridgeshire Business Park, Ely, Cambs CB7 4EX 2 modern office units in popular business park location Ely Rail Station and City centre within half a mile 75% let to Alan Boswell Insurance Brokers Ltd and ST1 Consulting Ltd Limited rental guarantee available on remaining 25% Current income of 37,880 per annum, rising to circa 50,500 per annum when fully let Offers in the region of 600,000 are invited for the freehold interest Producing a net yield of 7.96% when fully let and after purchaser s costs of 5.8% Robinson Layer LLP 11 Signet Court, Cambridge CB5 8LA T F E agency@robinsonlayer.co.uk Commercial Estate Agency Development & Investment Landlord & Tenant Property Management Rating & Valuation These particulars do not constitute, nor constitute any part of, an offer or contract and are issued on the strict understanding that all negotiations are conducted through Robinson Layer. All measurements are approximate and unless stated otherwise, all prices and rents quoted are exclusive of VAT

2 LOCATION Ely is an historic cathedral city with a resident population of around 18,750. It is located at the intersection of the A142 and A10, about 12 miles north of the A14 at Cambridge and Newmarket. Cambridgeshire Business Park is situated on Ely s southern bypass, in close proximity to a new 205-space long stay public car park, the recently extended Tesco store and the rail station, which has excellent rail services to the Midlands via Peterborough, King s Lynn, Norwich, Bury St Edmunds, Cambridge, Stansted Airport and London King s Cross in just over an hour. The Prospect Point development is at the western end of the business park, adjacent to the Kidsunlimited day nursery, and occupies a site area of about 0.2 hectares (0.49 acres). There are six designated car spaces for each unit. DESCRIPTION Prospect Point was constructed in 2009 and comprises 3 pairs of semi-detached high quality two-storey selfcontained office buildings. Four of the six units have been sold or leased and Units 3C & 3D have been leased. The buildings are of brick construction under slated roofs with powder coated metal windows and external door canopies. Internally, the units are fitted with dado trunking, carpeting, comfort cooling and heating, suspended ceilings with recessed CAT II lighting. Each floor of each unit has its own kitchenette and WC, with the ground floor WC being to disabled standard. Each unit also has a punch out panel that will allow a platform lift to be retro-fitted should this be required in the future. To view a tour of the building and its interior, please go to and click on the play button on the photograph. FLOOR AREAS (approximate) m² ft² Unit 3C Ground Floor First Floor Net Internal Area of Unit 3C ,840 Unit 3D Ground Floor First Floor Net Internal Area of Unit 3D ,840 TENANCIES Unit 3C, First Floor, is let to Alan Boswell Insurance Brokers Limited for a term of five years from the 6 June 2011, expiring in June The current passing rent is 12,880 per annum. There is a mutual break at the end of the third year on six months prior notice. The lease is excluded from the security of tenure provisions of the Landlord & Tenant Act Unit 3D, Ground and First Floors, is let to ST1 Consulting Limited for a term of five years from 7 January 2011, expiring in January The current passing rent is 25,000 per annum. The lease is within the security of tenure provisions of the Landlord & Tenant Act TENANT COVENANTS The most recently published (full) accounts for Alan Boswell Insurance Brokers Ltd, for the year to 31 March 2011, show an approximate turnover of 7.267M, a pretax profit of 1.565M and balance sheet value of approximately 2.5M. A copy of these accounts are available upon request. The most recently published (abbreviated) accounts for ST1 Consulting Ltd, for the year to 31 March 2011, show an approximate balance sheet value of 91,682. A copy of these accounts are available upon request. TENURE Freehold. A Land Registry compliant Title Plan is attached showing the demises areas, which include a 1 metre strip around the outside of each building and the car spaces. The freehold interest of the common areas are owned by Prospect Point Management Ltd with each of the 6 unit owners having 1 share in this company. PLANNING Planning consent was granted for an open B1 use in 2008 for the development, under reference 07/01244/ FUM. A copy of the planning consent is available upon request. BUSINESS RATES From enquiries made to the Valuation Office Website, the ground floor of each unit has a 2010 Rateable Value of 12,750 and the first floor of each unit has a 2010 Rateable Value of 13,000. For the year commencing 1 April 2012 rates are normally charged at 45.8p in the pound on the Rateable Value. SERVICE CHARGE A service charge is levied in respect of a contribution towards the upkeep of the common areas and insurance. Further details are available from the agents. PRICE Offers in the region of 600,000 are invited for the freehold interest, which represents a net yield of 7.96% when fully let and after purchaser s costs of 5.8%. We understand that VAT will be charged on the price. LEGAL COSTS Each party to bear their own legal costs. VIEWING & FURTHER INFORMATION Strictly by appointment with the joint agents:- Robinson Layer Contact: Mark Robinson MRICS DD: (Mobile: ) mbr@robinsonlayer.co.uk or Barker Storey Matthews Contact: Mike Sumpster FRICS DD: mas@bsm.uk.com Our ref: MBR/2291/2292/120405

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4 ANGEL DROVE The Cambridgeshire Business Park 1 BARTHOLEMEW'S WA SIR JAMES BLACK ROAD 2 El Sub Sta ST THOMAS' PLACE 5 3f 3f 3c 3d 3e PROSPECT POINT ESS Day Nursery 3b 3a 3a ST THOMAS' PLACE Noble H 0m 10m 20m 30m Ordnance Survey Crown Copyright All rights reserved. Licence number Plotted Scale - 1:1250

5 A10 to King's Lynn Ely Cathedral A142 to St Ives & Huntingdon City of Ely Ely southern by-pass Tesco Rail Station A142 to Newmarket & the A14 A10 to Cambridge & the A14 Ordnance Survey Crown Copyright All rights reserved. Licence number Plotted Scale - 1:12500 Prospect Point, 3 St Thomas' Place Cambridgeshire Business Park Ely, Cambs, CB7 4EX