trinity house ashford kent - allsop · trinity house. ashford kent. office investment opportunity...

12 YEARS UNDOUBTED INCOME

TRINITY HOUSE ASHFORD

KENT

OFFICE INVESTMENT OPPORTUNITY

TRINITY HOUSE, UNITS 110 & 120, EUREKA PARK, UPPER PEMBERTON, KENNINGTON, ASHFORD, KENT, TN25 4AZ


KENT


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.


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


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


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.


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



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.



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


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

trinity house ashford kent - allsop · trinity house. ashford kent. office investment opportunity...

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