Bocam Park_Bridgend.indd
Transcription
Bocam Park_Bridgend.indd
Modern Office Investment and Land Opportunity Modern Office Investment and Land Opportunity BRIDGEND BRIDGEND 1 Modern Office Investment and Land Opportunity Unit 31 Unit 14 INVESTMENT SUMMARY § Located on an established business park, in a Tier 1 grant assisted area, adjacent to J35 of the M4. § A mixed investment and development opportunity including: § Unit 31, Bocam Park - A multi-let, detached office building extending to 27,419 sq ft (2,547.29 sq m) with an income of £269,610 per annum. § Unit 14, Bocam Park - A semi-detached office building extending to 4,050sq ft (376.25 sq m) which is vacant but with existing occupier interest. § Development land extending to a gross area of circa 10.18 acres. Development Land Freehold Interest C § The freehold interest (excluding Unit 1) and estate management of Bocam Park. The total site extends to approximately 28 acres. § Available as either a single or individual lots. A § Offers in the region of £3,250,000 for the entire freehold interest. B BRIDGEND 2 Modern Office Investment and Land Opportunity LOCATION Bocam Park is an established, mixed use business park located approximately 3 miles east of Bridgend town centre, adjacent to Junction 35 of the M4 Motorway. Bridgend is located 20 miles west of Cardiff and 22 miles south east of Swansea and is the commercial and administrative centre of Bridgend County Borough Council. Bridgend has a mainline railway station with services to London Paddington and the local network. Cardiff International Airport is located approximately 30 minutes’ drive from the town centre. Bocam Park provides modern office accommodation totalling approximately 135,000 sq ft and a car dealership, constructed in phases by a single developer over the last 10 years. The park is strategically situated immediately to the south west of junction 35 of the M4 in a Teir 1 grant assisted area and within a 30 minute drive of both Cardiff and Swansea. Key occupiers in the immediate area include CGI, Welsh Blood Service, Macmillan Cancer Support, Welsh Government, Sinclair Garages (Mercedes), Sony, Invacare, BBI Healthcare and Velindre NHS Trust. BRIDGEND DESCRIPTION An investment and development opportunity comprising the following elements: § Unit 31 – Multi-let office investment, extending to 27,419 sq ft. § Unit 14 – Semi-detached vacant office unit, extending to 4,050 sq ft. § Development Land – Identified for office and hotel use. § Freehold Interest (excluding Unit 1) and estate management of the entire business park. BRIDGEND 3 Modern Office Investment and Land Opportunity Unit 31 Bocam Park UNIT 31 BOCAM PARK DESCRIPTION & SPECIFICATION A three storey, detached office building comprising the following specification: § Comfort cooling and heating § Raised access floor with floor boxes § Suspended ceilings with recessed lighting § Passenger Lifts § Male, female and disabled WCs § Fully carpeted § Hardwood finishes § Disabled access § Multiple entrance points to allow letting flexibility CAR PARKING 107 car parking spaces are allocated to the property (1:256 sq ft). EPC ACCOMMODATION The property benefits from an EPC rating of C55. NIA Sq M Sq Ft Ground Floor 864.27 9,303 First Floor 839.46 9,036 Second Floor 843.55 9,080 2,547.28 27,419 Total BRIDGEND TENURE The property is available by way of a 999 year long leasehold interest if sold individually. 4 Modern Office Investment and Land Opportunity UNIT 31 BOCAM PARK TENANCIES Unit Tenant Sq ft NIA Lease Start Lease term Breaks Rent psf Rent pa Comments Ground Floor Welsh Ministers (Cafcass) 3,510 15/12/2008 10 years - £13.50 £47,385 - Ground Floor ISA Training Ltd 5,793 01/01/2013 5 years 01/01/2016 £ 7.00 £40,551 - First Floor Skanska Construction UK Ltd 6,225 08/10/2007 10 years - £13.50 £84,038 - First Floor Vacant 2,811 - - - - - Existing occupier interest. Second Floor Staedtler (UK) Ltd 6,974 01/09/2008 10 years - £14.00 £97,636 - Second Floor Vacant 2,106 - - - - - Existing occupier interest. Unit 31 Bocam Park SERVICE CHARGE We understand that the building service charge is running at approximately £2.70 per sq ft and that the estate charge is currently running at approximately £0.50 per sq ft. Further service charge information is available on request. BRIDGEND 5 Modern Office Investment and Land Opportunity UNIT 31 BOCAM PARK COVENANT INFORMATION WELSH MINISTERS (CAFCASS) SKANSKA CONSTRUCTION UK LTD Cafcass stands for Children and Family Court Advisory and Support Service and was set up in April 2001 under the provisions of the Criminal Justice and Court Services Act. Cafcass helps over 140,000 children and young people per year who are going through care or adoption proceedings, or whose parents have separated and are unable to agree about future arrangements for their children. Cafcass is the voice of children in the family courts and helps to ensure that children’s welfare is put first during proceedings. The lease is signed in the name of The Welsh Ministers of The Welsh Assembly Government. Skanska, established in 1887, is one of the world’s leading project development and construction groups. The UK operation employs approximately 5,000 and is one of the country’s top contractors. 31/12/2013 31/12/2012 31/12/2011 Turnover 971,584,000 937,258,000 1,053,446,000 Pre Tax Profit 33,327,000 31,039,000 33,768,000 Shareholders Funds 179,456,000 157,605,000 123,838,000 Skanska Construction Uk Ltd has an ICC risk score of 71, which demonstrates confidence and a low risk potential. ISA TRAINING LTD ISA Training was established in 1998 and is an independent hairdressing training provider in Wales and England. 31/07/2013 31/07/2012 31/07/2011 Turnover - - - Pre Tax Profit - - - 391,000 334,000 342,000 Shareholders Funds ISA Training has an ICC rating of 76 out of a 100, with 100 being the lowest risk. This demonstrates confidence and a low risk potential. STAEDTLER (UK) LTD A UK business, with a large German parent company, involved in the manufacture and sale of writing and drafting materials and instruments. Turnover Pre Tax Profit Shareholders Funds 31/12/2013 31/12/2012 31/12/2011 17,826,000 16,649,000 15,124,000 566,000 217,000 136,000 5,572,000 5,171,000 4,900,000 Staedtler Uk Ltd has an ICC risk score of 78, which demonstrates confidence and a low risk potential. BRIDGEND 6 Modern Office Investment and Land Opportunity UNIT 14 BOCAM PARK DESCRIPTION & SPECIFICATION A two storey semi-detached building with the following specification: § Comfort cooling and heating § Raised access floor with floor boxes § Suspended ceilings with recessed lighting § Passenger Lift § Male, female and disabled WCs § Fully carpeted § Hardwood finishes § Capped services § Disabled access CAR PARKING 18 car parking spaces are allocated to the property (1:225 sq ft). EPC ACCOMMODATION The property benefits from an EPC rating of C52. NIA Sq M Sq Ft First Floor 188.13 2,025 Ground Floor 188.13 2,025 Total 376.25 4,050 BRIDGEND TENURE The property is available by way of a 999 year long leasehold interest if sold individually. 7 Modern Office Investment and Land Opportunity DEVELOPMENT LAND There is land extending to a total of 10.18 acres potentially available for development subject to planning. The land comprises the following elements: Land Area Acres Comments/Planning Status A 2.12 An existing detailed planning consent for an extension to the existing office park of 44,000 sq ft of B1 offices. B 6.01 Potential for hotel development, subject to planning. Please note that the net developable area is restricted to accommodate flood prevention measures. C 2.05 Land earmarked for flood defence measures. C A Total 10.18 Further details on the development land and planning history are available on request. B TENURE The development land is available by way of a 999 year long leasehold interest if sold individually. BRIDGEND 8 Modern Office Investment and Land Opportunity FREEHOLD INTEREST The vendor is prepared to include the entire freehold interest (excludes unit 1) of Bocam Park in the sale, which extends to approximately 28 acres and is shown for identification purposes on the plan opposite. The freeholder is responsible for maintaining the estate and common areas, the costs of which together with management fees are recoverable via an estate service charge. The estate charge is currently running at approximately £0.50 per sq ft. Further service charge information is available on request. KEY Freehold boundary Freehold excludes Unit 1 and associated car parking, however the freeholder still recovers a service charge contribution. BRIDGEND 9 VAT The property is elected for VAT. However, it is anticipated that sale of the property will be treated as a Transfer of a Going Concern (TOGC). BRIDGEND CAPITAL ALLOWANCES To be confirmed. CONTACTS INVESTMENT/ASSET MANAGEMENT CONSIDERATIONS For further information, please contact: § Excellent location adjacent to Junction 35 of the M4 Motorway. § Tier 1 location, entitling qualifying occupiers to the maximum financial/ training assistance. § Existing occupier interest in the vacant space. JUSTIN MILLETT RHYDIAN MORRIS JLL T 029 2072 6006 M 07816 813 434 E [email protected] JLL T 029 2072 6002 M 07792 273 120 E [email protected] ROB EMANUEL RHYS WILLIAMS Emanuel Jones T 029 2081 1581 M 07801 924361 E [email protected] Emanuel Jones T 029 2081 1581 M 07879 339280 E [email protected] § Detailed planning consent for a further 44,000 sq ft of B1 office development. § Additional development opportunities, subject to planning. PROPOSAL We are instructed to seek offers in excess of £3,250,000 (Three million two hundred and fifty thousand pounds), subject to contract and exclusive of VAT, for our client’s entire freehold interest. Whilst their preference is for a single sale the vendor will also consider offers for part or parts of their holding. © Crown Copyright 2014. All rights reserved. Promap licence number 100020449. Jones Lang LaSalle licence number 100017659. This plan is published for the convenience of identification only and although believed to be correct is not guaranteed and it does not form any part of any contract. Misrepresentations Act 1967 & Declaration. Jones Lang LaSalle for themselves and for the vendors of this property whose agents they are give notice that: a) the particulars are set out as general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract; b) all descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchaser should not rely on them as statements or representations of fact but should satisfy themselves by inspection or otherwise as to the correctness of each of them; c) no person in the employment of Jones Lang LaSalle has any authority to make or give any representation or warranty whatever in relation to this property. Subject to Contract • Exclusive of VAT • January 2015.
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