the australia - tudor toone · salamander quay park lane | harefield ... honda, yakult, altus uk...

THE

PORTFOLIOAUSTRALIA

ODYSSEY BUSINESS PARK

WEST END ROAD | RUISLIP

SAlAmANDER QUAY

PARk LANE | HAREfIELD

SQUARE ONE

SOUTHALL LANE | HESTON

PARAllAx

AxIS PARk | SLOUgH

THE

PORTFOLIOAUSTRALIA

PORtfOlIO SUmmARY

• 4 South East office buildings close to either the M25/M4 or M25/M40.

• Total net internal area in excess of 285,900 sq ft (26,500 sq m) all with excellent car parking ratio’s of better than 1:293 sq ft.

• All of the properties are multi let. Existing tenants include M W kellogg, Honda, Yakult, Altus Uk LLP and Muirhead

Aerospace.

• Extensive capital expenditure totalling £6.7m has already been incurred on the void elements.

• Opportunity to increase the passing rent by over 100% by letting voids.

• Rents established at the bottom of the cycle offering further growth beyond ERV.

• Total rent passing - £2,392,554 per annum equating to £8.37 psf on the overall.

• Total ERV - £4,926,053 per annum equating to £17.23 psf on the overall.

• Majority freehold, with two having small leasehold elements.

• A rare opportunity to acquire a portfolio of well located South East assets with significant value enhancement opportunities,

based off low capital values and ERV’s.

INvEStmENt PROPOSAl

Offers are sought in the region of £31,500,000 (Thirty One Million, five Hundred Thousand Pounds), subject to contract and exclusive of VAT for our clients interests. A purchase at this level will provide the following profiles assuming costs at 5.7625%:

Net Initial Yield 7.18% Reversionary Yield 14.79% Extremely Low Capital Value per square foot of £110.18

ODYSSEY BUSINESS PARK

O D Y S S E YB U S I N E S S P A R K

lOcAtION

The property is located to the west of London approximately 1 kilometre (0.6 miles) to the north of the A40 at South Ruislip. The park fronts West End Road (A4180) and is accessed from the A40 at the Polish War Memorial Roundabout.

The A40 provides direct access to Central London, which is approximately 22 kms (14 miles) to the east. The A40 also links to the North Circular Road (A406) at Hangar Lane approximately 9 kms (5.5 miles) to the east, and the M25 at Junction 16, which is approximately 10 kms (6 miles) to the west.

Heathrow Airport is accessed by the A312 Hayes by-pass dual carriageway, and is approximately 8 kms (5 miles) to the south.

SItUAtION

The property is situated immediately to the east of Northolt Aerodrome off the A406 West End Road. A separate pedestrian security gate to the rear of the site allows access to South Ruislip station, which is approximately a 3 minute walk. This provides Underground links (Central Line) to Central London and mainline services direct to London Marylebone (25 minutes).

Local shopping facilities are situated around South Ruislip underground station and Ruislip High Street. Main shopping facilities are available at Uxbridge, 9 kms (5.5 miles) to the west and Ealing, approximately 12 kms (7.5 miles) to the east.

ODYSSEY BUSINESS PARK | WESt END ROAD | RUISlIP | HA4 6QD

AccOmmODAtION

We are advised the property provides approximately 142,303 sq ft (13,220 sq m) of net internal area.

There are a total of 574 marked car parking spaces which equates to an impressive ratio of 1:248 sq ft.

The site extends to approximately 3.55 hectares (8.78 acres).

DEScRIPtION

The property comprises four pavilion style office buildings constructed in 1990, with mainly brick clad elevations. The properties were originally designed and built for British Airways who were in occupation up until 2004. Athene, Artemis and Ares were refurbished post BA’s occupation. Apollo has recently undergone a comprehensive refurbishment at a cost of circa £1.5million. Please refer to the marketing website for more details: www.apollo-odyssey.co.uk

Each building has a main core containing the principle entrance, reception area, lift and stairs to the first floor. The office areas are directly accessed from the central core/reception allowing the buildings to be readily divisible into four sections.

Internally, the buildings have mineral fibre suspended ceilings, recessed lighting (Lg7 in the case of Apollo), fan cooled air conditioning (3 pipe VRV air conditioning in the case of Apollo), accessible metal tile raised floor, a 13 person passenger lift, male and female WC’s on each floor, and a shower facility. In the reception areas there are steel staircases with hardwood treads and a mixture of carpeted and tiled floors. Heating is provided via gas fired central heated boilers.

There is a single storey glazed café facility located in the centre of the park. A steel framed glazed walkway links the Café to the various approach ways. The landscaping around the park is well established.

tENURE

The majority of the property is held freehold. There is one area of land which is principally the access road which is held on a 999 year lease from the Secretary of State for Defence from 28 March 1985, at a peppercorn rent without review. This area is hatched blue on the site plan.



BUIlDING/flOOR

AREAStENANt

lEASE tERmS

RENt P.A. (£ PSf)

RENt REvIEWS

ERv P.A. (£ PSf)

lEASE ExPIRY (BREAK)

cOmmENtS1954 Act

ExclUDED SQ ft SQ m

Athene – ground floor 23,190 2,154.40 MW kellogg

Limited5 years from 7

May 2006£371,040(£16.00)

£382,635(£16.50) 06/05/2011

102 car parking spaces S/C capped at £126,428 p.a. but increased with RPI each S/C year

Athene – first floor 23,109 2,146.88 MW kellogg


Aug 2006£369,712(£16.00)

£381,299(£16.50) 06/05/2011 102 car parking spaces

S/C capped at £125,988 p.a. but increased with RPI each S/C year

Ares – Part ground floor 13,165 1,223.06 VACANT £0 £217,223

(£16.50)

Ares – Part ground floor 4,980 462.65 Milpharm Ltd 10 years from 25

March 2006£80,400 (£16.14) 25/03/2011 £82,170

(£16.50)24/03/2016 22 car parking spaces

9/6/2010 – 8/6/2011 rent freeNegotiations are ongoing for tenant to take a further 2,000 sq ft

Ares – Part first (S) 7,226 671.31 Ladbrokes Betting

& gaming Limited10 years from 20

January 2006£116,750 (£16.16)

£119,229(£16.50)

19/01/20116 months Break Notice Secured

Ares – Part first (N) 11,119 1,032.98 Hornbill Systems


Oct 2005 £178,000(£16.01)

06/02/200906/10/2010

£183,464(£16.50)

05/10/2015(05/10/2011)

9 months prior written notice, 6 months rent & VAT20 car park places within demise & further right to use 27 spaces in common

S/C cap of £57,620 p.a but increased with RPI each year

Artemis – Part ground floor (N) 6,750 627.09 Yakult Uk Limited 10 years from 18

Aug 2005£112,160(£16.62)

£111,375(£16.50) 17/08/2015

30 car parking spaces S/C cap of £35,576 subject to increase with RPI

NB from 19/08/2010 – 18/05/2011 T has rent free period as did not exercise break option.

Artemis – Part ground floor (S) 7,176 666.67 SRg Interesource

Limited5 years 6 months

from 21 June 2005£118,404 (£16.50)


£31,144 S/C cap but increased with RPI each year

Artemis – Part first floor 5,455 506.78 Ladbrokes Betting

& gaming Limited

10 years 1 month from 9 feb 2006 to

2 April 2016

£88,640(£16.25) 03/04/2011 £90,008

(£16.50)

02/04/2016(02/04/2011)(02/10/2013)

24 car parking spaces S/C cap at £31,004 with RPI increase.

6 months prior written notice required, 3 months rent free if break not exercised.

Artemis – Part first floor 3,600 334.45 VACANT £0 £55,800

(£15.50)

Artemis – Part first floor 4,580 425.49

On Demand Communications

Limited

5 years from 29 Sept 2009

£91,400 (£19.96)

£75,570(£16.50) 28/09/2014

35 car parking spaces S/C cap at £27,486 from 29/09/2001 – 28/09/2010

Current rent free 07/02/2011 - £91,400

Apollo 29,773 2,765.98 VACANT £0 £565,687(£19.00)

Café in the Park 2,180 202.53 (The Café) OCS group Uk Limited

3 years from 11 Aug 2008 £0 £10,900 10/08/2011

(11/08/2010)2 car parking spaces

Calculation used to work out “monthly net profit rent”

tOtAl 142,303 13 ,220 £1 ,526 ,506 £2 ,393 ,762

tENANcY ScHEDUlE

S

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m

A

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A

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S A L A M A N D E RQ U A Y

lOcAtION

Harefield is located 28.8 km (18 miles) north west of Central London and just east of the A412 Uxbridge/Rickmansworth Road. It benefits from close proximity to the A40/M40 and to Junction 17 of the M25. West Ruislip, Rickmansworth (mainline and underground) and Denham (mainline) stations are nearby providing direct access to London Marylebone Station and other underground stations. Heathrow Airport is within close proximity to the south.

Harefield is a relatively small commercial centre, providing shopping and other local services. It is, however, a strategic location relative to the M40 and the M25 motorways and has attracted a number of significant office occupiers into the area such as the Clancy group Plc.

Other significant schemes in the area are the Denham Media Park and Broadwater Park where tenants include Bosch and Varta Batteries. The office buildings at Maple Cross, on the A412 to the north, are occupied by Renault-Nissan, Skanska and Cadbury Schweppes. To the south on Moorhall Road there is the Widewater Office Park where tenants include BIC Uk Ltd, Norgine and Musgrave.

SItUAtION

The property occupies a self contained site fronting Park Lane with the grand Union Canal to the rear. The property is accessed from the A412 via Coppermill Lane.

The property is set within a designated conservation area on the banks of the grand Union Canal and close to the River Colne. To the north of the site is residential, and to the west there are offices.

SAlAmANDER QUAY | PARK lANE | HAREfIElD | UB9 6NZ

DEScRIPtION

The property consists of two buildings, Quay West & Bankside, constructed in 1988.

Each of the buildings has an in-situ concrete frame. Elevation walls are generally of cavity wall construction, with an inner block leaf and external fair faced yellow stock brickwork. full height powder –coated aluminium double glazed windows are provided to the ground fl oor between brickwork sections.

The internal specifi cation includes carpeted fl oors incorporating three compartment truncking, suspended ceilings with recessed fl uorescent lights and each suite is served by its own gas fi red central heating system.

Bankside has recently been refurbished at a cost of £500,000.

AccOmmODAtION


There are a total of 168 marked car parking spaces which equates to an impressive 1:236 sq ft.

The site extends to 1.02 hectares (2.54 acres).

tENURE

The estate comprises two freehold titles.

The fi rst freehold, hatched green and comprising Bankside, is held by the vendor.

The second freehold, hatched blue and comprising Quay West, is held by the management company Quay West Estate Company Limited. The vendor holds 15 of the 19 long leases (999 years) and consequently 15 of the 19 shares in the management company; as the controlling shareholder it is able to appoint directors and manage the estate through the management company as freeholder and head landlord.



BUIlDING SUItEAREAS

tENANt lEASE tERmSRENt P.A.

(£ PSf)ERv P.A. (£ PSf)


cOmmENtS1954 Act

ExclUDED SQ ft SQ m

Quay West A 1,329 123.47 CSL Dualcom Limited 7 years 4 months & 21 days from 24 June 2005

£30,800(£23.18)


Quay West B 1,373 127.55 CSL Dualcom Limited 6 years from 14 Nov 2006 £30,800(£22.43)


Quay West C 1,330 123.56 VACANT £22,610(£17.00)

Quay West D 1,295 120.31 Ciber Novasoft Limited 2 years from 24 June 2010 £28,785(£22.23)

£22,015(£17.00)

23/06/2012(24/06/2011) 4 car parking spaces

Quay West E 902 83.80 Ciber Novasoft Limited 2 years from 24 June 2010 £20,746(£23.00)

£15,334(£17.00)

23/06/2012(24/06/2011) 3 car parking spaces

Quay West f1 856 79.52 VACANT £14,552(£17.00)

Quay West f2 360 33.44 VACANT £6,120(£17.00)

Quay West g 1,266 117.61 Ashok Maganlal Sodha 999 years from 1 Jan 2002 N/A 31/12/3001 5 car parking spaces N/A

Quay West H&I 2,744 254.92 VACANT £46,648(£17.00)

Quay West J 1,102 102.38 VACANT £18,734(£17.00)

Quay West k 1,640 152.36 The Hardware federation Trustee Company Limited 999 years from 1 Jan 2002 N/A 31/12/3001 6 car parking spaces

Quay West L 1,330 123.56 Safeguard Biosystems Holdings Limited 4 years from 9 March 2007 £29,925

(£22.50)£22,610(£17.00) 08/03/2011 4 car parking spaces

Quay West M 1,330 123.56 JAI (Uk) Limited 2 years from 24 June 2009 £30,000(£22.56)


Quay West N 857 79.62 VACANT £14,569(£17.00)

Quay West O 1,300 120.77 forester grant Associates Limited 999 years from 1 Jan 2002 N/A 31/12/3001 5 car parking spaces Voluntary Liquidation

Quay West P&Q 2,592 240.80 Merlin Claims Limited 6 years from 6 May 2009 £56,408 (£21.76)

£44,064 (£17.00)

05/05/2015 (05/05/2012)

8 car parking spaces Tenant moved from Bankside

£56,408 until 05/05/2012 06/05/2012 –05/08/2012 = peppercorn

06/08/2012 –05/05/2015 = £56,408

Quay West R1 480 44.59 The Lawson Partnership 3 years from 29 September 2004

£9,600(£20.00)

£8,160(£17.00)

2 car parking spaces Holding Over

Quay West R2 716 66.52 VACANT £12,172(£17.00)

Quay West S 1,315 122.17 Jane Deborah Page & Richard Charles Anthony Page 999 years from 1 Jan 2002 N/A 31/12/3001 5 car parking spaces

Bankside ground floor 7,193 668.25 VACANT £136,667(£19.00)

Bankside first floor 6,747 626.81 VACANT £128,193(£19.00)

Bankside Second floor 1,620 150.50 VACANT £32,400(£20.00)

tOtAl 34,156 3 ,173 (areas exclude sold off suites) £237 ,064 £613 ,392

tENANcY ScHEDUlE

SQUARE ONE

lOcAtION

Square One is located 4 miles north east of London Heathrow Airport and is within 1 mile of Junction 3 of the M4 and 4.5 miles of the M4/M25 intersection. The area has good communication links to Central London 15 miles to the east. Hayes & Harlington train station provides direct access to London Paddington (16 minutes) and Heathrow (6 minutes).

The property lies 0.5 miles from the A312 Hayes by-pass, a north-south link between the M4 and A40 (providing access to the M40).

SItUAtION

The property is prominently situated at the roundabout intersection of the Hayes Road and Southall Lane. Hayes Road provides direct access to the A312 Parkway, just 0.4 miles from Junction 3 of the M4. Access to the park is via Southall Lane. Local amenities include the David Lloyd Health Club, Airlinks golf Club and a Tesco Superstore.

Local shopping facilities are in Southall and Hayes which are both accessed via a short bus journey or on foot.

SQUARE ONE | SOUtHAll lANE | HEStON | UB2 5NH

The refurbishment has included more extensive works to the landscaping which has been re-designed and re-planted together with a cycle storage facility. The roadways around the estate are tarmac with block paving to car parking areas and concrete paving to the entrance areas.

AccOmmODAtION

We are advised that the property provides approximately 68,200 sq ft (6,335 sq m) of net internal space excluding the café.

There are a total of 233 car parking spaces on the park which equates to a generous car parking ratio of 1:293 sq ft.

The site extends to approximately 1.52 hectares (3.80 acres).

tENURE

The property is held freehold.

DEScRIPtION

The property comprises four office buildings with a café on the park. The property has recently undergone a major refurbishment totalling £4.7m.

Buildings 1 & 2 provide:

• New VRf comfort cooling and heating

• New fresh air supply and extract

• 100mm raised access floors

• New mineral fibre suspended ceilings

• Lg7 compatible lighting

• New double height fully glazed reception areas

• New WC’s (male, female and disabled)

• New cladding to external elevations

• Video door entry systems

The refurbishment has allowed the buildings to be sub-divided into suites from 2,716 sq ft through to self-contained buildings of up to 18,000 sq ft with varying combinations in between.

Building 3 is let on its original specification.

Building 4 has new cladding and double height fully glazed reception areas. Internally it has been refurbished following the recent departure of the previous tenant.

A single storey café with external seating areas has recently been constructed and completely fitted out. It can be commissioned immediately as occupation on the park increases.



BUIlDING flOORAREAS


(£ PSf)RENt

REvIEWSERv P.A. (£ PSf)


cOmmENtS1954 Act

ExclUDED SQ ft SQ m

Building 1 ground floor – Suite 1 3,520 372.02 Harmoni HS Ltd 10 years from 26 May

2009£66,880(£19.00) 26/05/2014 £65,120

(£18.50) 01/01/2015 11 car parking spaces

Building 1 ground floor – Suite 2 4,470 415.27 VACANT £82,695

(£18.50) fitted out suite

Building 1 first floor – Suite 3 3,513 326.37 VACANT £64,991

(£18.50)

Building 1 first floor – Suite 4 4,340 403.20 2E2 Uk Ltd 5 years from 13 Sept 2010 £86,000

(£19.82)£80,290(£18.50) 12/09/2015 11 car parking spaces

Building 2 ground floor 8,776 815.31 VACANT £162,356(£18.50)

Building 2 first floor 9,074 843 VACANT £167,869(£18.50)

Building 3 Building 3 10,041 932.83 Muirhead Aerospace Limited 10 years from 12 Sept 2003

£160,676(£16.00)


Building 4 ground floor 12,157 1,129.41 VACANT £164,120(£13.50)

Building 4 first floor 12,306 1,143.26 VACANT £166,131(£13.50)

Electricity Sub-Station

Southall Lane0 0 SSE Services PLC 99 years from 12 Nov

1986 11/11/2085

tOtAl 68,197 6 ,336 £313 ,556 £1 ,114 ,247

tENANcY ScHEDUlE

PARAllAx

lOcAtION

Langley is located 3 miles to the east of Slough in Berkshire. Slough is a major commercial centre within the Thames Valley, with excellent transport links to both central London, the western corridor and Heathrow Airport via the M4 (Junctions 5-7). It lies 21 miles west of Central London, 21 miles east of Reading and 6 miles north of Windsor. The M25 is approximately 2 miles to the east of the property via Junction 5 of the M4.

Rail links to both Langley and Slough Central are excellent. There is a frequent direct service from London Paddington to Langley (31 minutes) and into Slough (36 minutes). In addition, there are regular trains to Reading (20 minutes) and Maidenhead (12 minutes).

SItUAtION

Axis Park is one of the most prominent business parks in the Western Corridor fronting the M4 motorway. The property has exceptional transport links, lying 0.5 miles from the M4 (Junction 5), 2 miles from the M4/M25 intersection and 9 miles from the M40 (Junction 1A). Heathrow lies 6 miles to the east, via the M4. Langley Station is 1.3 miles from the property and Slough Central Station is 3 miles away.

PARAllAx | AxIS PARK | SlOUGH | Sl3 8US

AccOmmODAtION


There are a total of 337 car parking spaces which equates to a parking ratio of 1:130. In addition to the on site marked and consented car parking spaces, there is a gravelled area fronting the M4. This gravel area is within the freehold demise being offered and is defined as part of the M4 widening plans, which is not due for consideration until 2016 at the earliest. This gravel area is not consented for car parking but is currently used as such providing approximately 120 car parking spaces.

tENURE

The property is held freehold.

DEScRIPtION

The property was constructed in 2002 by MEPC Plc to a modern grade A standard, comprising a steel portal frame construction, which is primarily clad in glass. Internally the property is accessed via an imposing full height glass winter garden leading through to a large reception area with two, ten person passenger lifts. The internal specification comprises four pipe fan coil air conditioning, fully accessible raised floors with 150mm clear void, suspended ceilings with category II lighting, and a 2.75m clear finished floor to ceiling height.

Externally the park has been landscaped to a high quality providing extensive planting and an impressive water feature at the front of the property. Roadways are tarmac throughout with block paving surrounds. The park benefits from 24 hour onsite security and CCTV.

Parallax enjoys high visibility from the M4 offering the opportunity for occupiers to have a high level of branding on the building.



flOOR/USEAREAS


(£ PSf)RENt

REvIEWSERv P.A. (£ PSf)


cOmmENtS1954 Act

ExclUDED SQ ft SQ m

Part ground floor 2,797 259.85 Altus Uk LLP 5 years from 24 June 2010

£39,158(£14.00)

£51,745(£18.50) 23/06/2015

Note 17 car parking spacesS/C cap at £7.50 p.s.f

Increased annually with RPI

Part ground floor 10,715 995.45 Honda finance Europe Plc 10 years from 14 feb 2008 £262,518(£24.50) 14/02/2013 £198,228

(£18.50)13/02/2018

(01/03/2015)27 car parking spaces

6 months prior notice pay termination sum

first floor 13,603 1,263.75 VACANT £265,259(£19.50)

Second floor 14,137 1,313.36 VACANT £275,672(£19.50)

7 car parking spaces Altus Uk LLP 5 years from 24 June

2010 £4,375 £4,375 23/06/2015Note 2

Co-terminus with above office lease dated 24 June 2010

15 car parking spaces Honda finance Europe Plc 1 year 10 months

from Sept 2010 £9,375 £9,375 13/2/2018Note 2

Rolling monthly landlord and tenant breaks In solicitors hands

Not yet completed

31 car parking spaces Honda finance Europe Plc 10 years from 14 feb 2008 £1 p.a £0 13/02/2018

Note 2 Co-terminus with above office lease

dated 14 february 2008

8 car parking spaces Altus Uk LLP 5 years from 24 June

2010 £1 p.a £0 23/06/2015Note 2

Co-terminus with above office lease dated 24 June 2010

tOtAl 41,252 3 ,832 £315 ,428 £804 ,652

Note 1: Rent set in June was net effective on the basis of no rent free or incentives.

Note 2: All parking leases listed above are determinable by Landlord if required by Slough Borough Council

tENANcY ScHEDUlE

41-43 Maddox Street London W1S 2PD

www.tudortoone.com

t 0207 495 5550 f 0207 495 5551

mISREPRESENtAtION Act 1967

TUDOR TOONE LLP, fOR ITSELf AND fOR THE VENDORS Of THIS PROPERTY, HEREBY gIVE NOTICE THAT:

THESE PARTICULARS DO NOT CONSTITUTE, NOR CONSTITUTE ANY PART Of, AN OffER OR CONTRACT.

TUDOR TOONE LLP AND ITS MEMBERS ACCEPT NO LEgAL RESPONSIBILITY fOR ANY STATEMENT OR REPRESENTATION WHETHER WRITTEN, ORAL OR IMPLIED OR WHETHER CONTAINED IN ANY ADVERTISEMENT PARTICULARS OR OTHER MATTERS ISSUED OR ANY CORRESPONDENCE ENTERED INTO BY THEM AND WHETHER MADE IN ANY ANTECEDENT PRESENT OR SUBSEQUENT ENQUIRIES OR NEgOTIATIONS.

NEITHER TUDOR TOONE LLP NOR THEIR PRINCIPALS, MEMBERS, AgENTS, SERVANTS OR REPRESENTATIVES HAVE ANY AUTHORITY WHATSOEVER TO MAkE OR gIVE ANY REPRESENTATION OR WARRANTY WHATSOEVER WHETHER WRITTEN OR IMPLIED IN RELATION TO THIS PROPERTY.

ANY INTENDINg PURCHASER MUST SATISfY HIMSELf BY INSPECTION OR OTHERWISE AS TO THE CORRECTNESS Of ANY ANTECEDENT PRESENT OR SUBSEQUENT STATEMENTS OR REPRESENTATIONS, AND SHOULD NOT RELY UPON THE SAME UNLESS HE HAS SATISfIED HIMSELf ACCORDINgLY.

UNLESS OTHERWISE STATED ALL PRICES AND RENTS ARE QUOTED ExCLUSIVE Of VALUE ADDED TAx (VAT). ANY INTENDINg PURCHASERS OR LESSEES MUST SATISfY THEMSELVES INDEPENDENTLY AS TO THE INCIDENCE Of VAT IN RESPECT Of ANY TRANSACTION.

SUBJECT TO CONTRACT & ExCLUSIVE Of VAT TUDOR TOONE LLP IS A LIMITED LIABILITY PARTNERSHIP REgISTERED IN ENgLAND AND WALES WITH REgISTERED NUMBER OC 305 411. REgISTERED OffICE: 41/43 MADDOx STREET LONDON W1S 2PD. DETAILS PREPARED SEPTEMBER 2010

cAPItAl AllOWANcES

We are advised that there are unclaimed capital allowances and further details are available upon request.

SHORtfAllS

A full schedule of shortfalls which are made up of empty rates and service charge is available upon request.

vAt

The properties are elected for VAT.

INvEStmENt PROPOSAl

Offers are sought in the region of £31,500,000 (Thirty One Million, five Hundred Thousand Pounds), subject to contract and exclusive of VAT for our clients interest, a purchase at this level will provide the following profiles assuming costs at 5.7625%;

Net Initial Yield 7.18% Reversionary Yield 14.79% Extremely Low Capital Value per square foot of £110.18

fURtHER INfORmAtION

for further information, or to arrange a viewing, please contact;

Ben Goodberry Tel: 0207 495 5550 Mob: 07799 038 391 Email: [email protected]

Alastair tyrrell Tel: 0207 495 5550 Mob: 07831 825 458 Email: [email protected]

THE

PORTFOLIOAUSTRALIA

SUBjEct tO cONtRAct AND ExclUSIvE Of vAt

the australia - tudor toone · salamander quay park lane | harefield ... honda, yakult, altus uk...

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