FOR SALE ST THOMAS HALL ST THOMAS STREET PRESTON, PR1 6AX

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1 Deals Winner 2009 & 2011 Runner Up 2010, 2012, 2013 & 2014 Most Active Agent Lancashire & Cumbria CHARTERED SURVEYORS COMMERCIAL PROPERTY CONSULTANTS FOR SALE RIVERSWAY BUSINESS VILLAGE NAVIGATION WAY PRESTON PR2 2YP TEL: FAX: WEBSITE: STUDENT INVESTMENT OPPORTUNITY ST THOMAS HALL ST THOMAS STREET PRESTON, PR1 6AX APPROXIMATE TOTAL FLOOR AREA: 1,291 SQ M (13,907 SQ FT) LOCATION The property is located fronting St Thomas Road, close to its junction with Garstang Road in the Moor Park district of Preston, to the north of the City Centre. Garstang Road (A6) is the main arterial route through the City Centre and provides access to the M55 and M6 motorway. The main campus of the University of Central Lancashire (UCLAN) is within short walking distance to the south. THESE PARTICULARS ARE BELIEVED TO BE CORRECT BUT IN NO WAY IS THEIR ACCURACY GUARANTEED AND THEY DO NOT FORM PART OF ANY CONTRACT AND NEITHER DO ROBERT PINKUS & CO LLP OR THE LESSORS OR THE VENDORS ACCEPT ANY RESPONSIBILITY IN RESPECT OF

2 DESCRIPTION The property comprises a detached, 4 storey (plus basement) building constructed in the 1950 s as a telephone exchange but converted into student accommodation with 42 beds in The building is of concrete frame construction with part rendered brick elevations under a flat roof. Cast iron rainwater fittings and predominantly Upvc double glazed window frames are installed. Access to the property is via a common entrance hall and inner stall to a stairwell providing access to the basement and upper floors. There is a fire escape stairwell to the rear of the building. Externally, there is a forecourt to the north of the site with a pedestrian entrance from St Thomas Road. To the south is a surfaced car park providing approximately 15 spaces with vehicular access from St Thomas Road and emergency access from Derwentwater Place. To the south west corner of the site, is a small enclosed yard area with gated access from Derwentwater Place. Internally, the property is arranged to provide the following: Basement Lobby, electric meter room, office, store/services, gymnasium, games room, pump road/services, heating chamber/services and telecoms road Ground floor Entrance lobby, entrance hall, en-suite room, store, 11No. single rooms, lounge, 2No. kitchens, 2No. shower rooms, 2No. Wc s First floor Lobby, laundry room, cleaners store, en-suite room, store, 11 No. single rooms, lounge, 2No. kitchens, 2No. shower rooms, 2No. Wc s Second floor Lobby, store, 10No. single rooms, lounge, 2No. kitchens, 2No. shower rooms, 2No. Wc s Third floor Lobby, store, 10No. single rooms, lounge, 2No. kitchens, 2No. shower rooms, 2No. Wc s Fourth floor Tank room

3 ACCOMMODATION We have been provided with the following gross internal areas of the building: Basement sq m (2,572 sq ft) Ground floor sq m (2,979 sq ft) First floor sq m (3,135 sq ft) Second floor sq m (2,475 sq ft) Third floor sq m (2,475 sq ft) Fourth floor sq m (280 sq ft) Total 1, sq m (13,907 sq ft) SERVICES We have been advised that the property is connected to main services including water, drainage, electricity and gas and benefits from gas central heating with individual room control. There are sub meters for the electricity supply for the telecoms equipment. Each unit has a telephone together with a cable internet service and each room and the lounge areas have a television area and socket. The basement, gym and telecoms room benefit from air conditioning. A fire alarm system, external lighting and internal and external CCTV are installed. There is currently a lift in the property which is disused and has been isolated. There is a small laundry provided on the first floor. TENURE The property is held freehold. OCCUPATIONAL LEASES The property is held subject to a number of occupational leases and agreements: To summarise, for the period July 2013 to June 2014 the gross income from student accommodation was 74, In addition, there are four sources of income on the roof from telecommunications masts as follows: 1. Let to Vodafone Ltd for 20 years from 3rd February 2006 at a rent of 8,500 p.a. subject to 5 yearly upwards only reviews linked to RPI. Tenant can break at any time subject to 12 months notice in the event that the premises become unsuitable for the operation of the tenant. 2. Let to T Mobile UK Ltd for 20 years from 5th Jan 2006 at a rent of 7,750 p.a subject to tenant break option on 5th anniversary and any time after 10th anniversary subject on 6 months notice. 3. Let to Orange Personal Communications Services Ltd for 20 years from 7 January 2002 at a rent of 9,936p.a.

4 4. Let to Telefonica (O2) UK Ltd for 15 years from 21 October 2008 at a rent of 7,950 p.a. The tenant can break before the end of 5th year subject to 12 months notice The total gross rent at present is 108, per annum. If all 44 bedrooms are let for 44 weeks a year at 65 per week, the gross income from the rooms alone would be 125,840 per annum plus the roof income, giving a total rent receivable of 159,976 per annum. COSTS PRICE VAT EPC LEGAL FEES VIEWING The vendor has confirmed that the cost of managing the property for the period July 2013 to June 2014 was 87, A full breakdown of this can be provided. Offers are invited in the region of 950,000 for the freehold interest subject to the income. This will be applicable at the prevailing rate. Available upon request. Each party to be responsible for its own legal costs in connection with the transaction. Danny Pinkus T: E: danny@pinkus.co.uk

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