LITTLEMORE HOUSE INVESTMENT AND DEVELOPMENT OPPORTUNITY

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Melvyn McCormick
5 years ago
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1 LITTLEMORE HOUSE A r m s t r o n g R o a d O x f o r d OX 4 4 F Y a R A R E F R E E H O L D O F F I C E / E D U C AT I O N A L INVESTMENT AND DEVELOPMENT OPPORTUNITY I N O X F O R D R I N G R O A D L O C AT I O N

Littlemore House is a former hospital site converted in 2006 to high grade office and educational space. The site extends to approximately 5.5 acres (2.24 hectares).

SAE Institute has the option to extend the lease for a further 5 year period. The property produces a passing rent of 466,830 per annum subject to RPI annual uplifts.

A4074 LITTLEMORE HOUSE The vacant space provides the opportunity to drive rents in line with the wider Oxford market.

2 Littlemore House is a former hospital site converted in 2006 to high grade office and educational space. The site extends to approximately 5.5 acres (2.24 hectares). Littlemore House provides approximately 38,685 sq ft (NIA). Majority let to SAE Education Ltd and guaranteed by Navitas Ltd until 30th June SAE Institute has the option to extend the lease for a further 5 year period. The property produces a passing rent of 466,830 per annum subject to RPI annual uplifts. A rent guarantee will be provided for a defined period on the vacant space providing an additional 170,000 per annum. A4074 LITTLEMORE HOUSE The vacant space provides the opportunity to drive rents in line with the wider Oxford market. The excellent floor to ceiling heights and period style features provide a contrast to traditional business park office space. Potential for longer term alternative uses including residential, subject to gaining necessary consents. A rising office market where much of the latest prime ring road rents are now over per sq ft. Littlemore House is close to the Oxford Science Park where the new Schrodinger building has achieved rents of over 30 per sq ft. Two development plots with lapsed consent for approximately 40,000 sq ft of B1 (b) space. INVESTMENT SUMMARY OXFORD SCIENCE PARK Offers sought in excess of 10,000,000 (ten million pounds). A purchase at this price would reflect an initial yield of 6% on the income or approximately 7.5% if the development land is included, allowing for usual purchaser costs. Subject to Contract and Exclusive of VAT.

the dynamic Oxford market which is currently

3 OXFORD A4142 OXFORD RING ROAD PROPOSED OXFORD RAIL LINK An exciting and rare opportunity to invest in the dynamic Oxford market which is currently experiencing strong rental growth driven by the technology sector.

4 SAE Institute is one of the world s leading creative media institutions, SAE builds on a proud tradition of exceptional post-secondary education spanning 54 campuses in 27 countries.

Lift First floor net internal area 1555 sq. m (16,743 sq. ft.). Used exclusively by SAE/Navitas FIRST FLOOR PLAN Littlemore House Ground floor net internal area of space used by SAE - 1,084 sq. m. (11,670 sq.

6 Lift First floor net internal area 1555 sq. m (16,743 sq. ft.). Used exclusively by SAE/Navitas FIRST FLOOR PLAN Littlemore House Ground floor net internal area of space used by SAE - 1,084 sq. m. (11,670 sq. ft.) Ground floor net internal area of vacant space sq. m. (10,272 sq. ft.) Development Plot 1 Development Plot 2 GROUND FLOOR PLAN Total building net internal area - 3,593 sq. m. (38,685 sq. ft.) Potential for longer term alternative uses including residential, subject to gaining necessary consents

OXFORD OFFICE/LABORATORY MARKET Oxford, along with Cambridge is the focus of significant government attention and central government funds are being released to support infrastructure projects such

Littlemore Park is geographically well positioned to benefit from the strong office and laboratory demand on the Oxford Science Park where the majority of the recently speculatively developed

Two development plots with proposed consent for approximately 40,000 sq ft of former B1 accommodation 2017 was the best year on record for office take-up in the A34/Oxford market and a 58% increase

7 OXFORD OFFICE/LABORATORY MARKET Oxford, along with Cambridge is the focus of significant government attention and central government funds are being released to support infrastructure projects such as the East/West road and rail link and housing and growth deals ( 215 million). Littlemore Park is geographically well positioned to benefit from the strong office and laboratory demand on the Oxford Science Park where the majority of the recently speculatively developed Schrödinger building is nearing completion and the top floor space has recently transacted at 32 per sq. ft. A material shift from previous rents at around per sq ft. Two development plots with proposed consent for approximately 40,000 sq ft of former B1 accommodation 2017 was the best year on record for office take-up in the A34/Oxford market and a 58% increase on take-up in This growth is driven by the technology sector which accounted for some 70% of transactions. The secure funding platform which is now in place for the University of Oxford spin out businesses is bearing fruit with transactions levels increasing and rents being driven by the city centre market and the Oxford Science Park. The passing rent being paid by SAE reflects per sq ft. This is low in comparison to properties around the ring road area. The vacant space provides an opportunity to drive rents forward. In our opinion an ERV of between per sq ft is now realistic. VSL has produced a summary of the 2017 office market which can be downloaded here VSL Review DEVELOPMENT LAND/ALTERNATIVE USES Adjoining land that was previously allocated for employment uses has been sold and now granted residential consent. This opens up further residential opportunities for the development plots and potential long term backup for Littlemore House. The current planning use of Littlemore House was most recently confirmed in a decision dated 23rd April 2012 which provides for a mixed D1/B1 use. It is our interpretation that permitted development rights to residential do not apply. The proposed Chiltern/Cowley train extension link proposes two additional rail stations on the existing rail line at Oxford Business Park and the Oxford Science Park. These stations would then provide a direct train link to Oxford city centre and London Marylebone. The current proposals are for this to be open in 2019, this is likely to prove an ambitious timescale.

8 A34 ROSE HILL A423 A40 & M40 A4142 OXFORD RD To arrange a viewing or for further information:- Aurum Real Estate 2 Noel Street London W1F 8GB For the attention of Peter Goldstein Tel: peter@aurumrealestate.co.uk VSL and Partners 22 Bankside Kidlington OX5 1JE A34 A34 OXFORD CITY CENTRE A40 A412 a A4074 A40 M40 8a 8 1 Four Pillars Hotel Sainsburys Oxford City Centre SANDFORD RD a Oxford Science Park ARMSTRONG RD A4074 SANDFORD RD GRENOBLE RD For the attention of Tom Barton/Richard Venables Tel: tbarton@vslandp.com/rvenables@vslandp.com LITTLEMORE HOUSE Armstrong Road Oxford OX4 4FY a VSL & Partners Ltd, their clients and any joint agents give notice that: i)these particulars are set out as a general outline only, for the guidance of intended purchasers and lessees, and do not constitute, nor constitute part of, any offer or contract; ii) All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given without responsibility, and any purchasers or lessees should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the accuracy of each of them; iii)no person in the employment of VSL & Partners Ltd has any authority to make or give any representation or warranty whatsoever in relation to the property; iv) Unless otherwise stated, all rents and prices quoted are exclusive of VAT which may be payable in addition. March 2018 SUBJECT TO CONTRACT

Prime Long Let Day Nursery Investment Opportunity. Busy Bees, 2 Armstrong Road, Littlemore, Oxford OX4 4XT

Prime Long Let Day Nursery Investment Opportunity Busy Bees, 2 Armstrong Road, Littlemore, Oxford OX4 4XT INVESTMENT SUMMARY n The property is located in Littlemore 2½ miles south of Oxford city centre