High Yielding Office Investment Sherwood Court 1,928 m² (20,750 ft²) Let to Countrywide Estate Agents Limited > Next Detached self contained two storey office building Prominent corner position at the entrance to Flexible design future proofing the building Let to Countrywide Estate Agents Limited Low risk covenant Let furnished and cabled Current rent 249,300 per annum 2,142,000 Yield 11% Net of costs at 5.8% Low capital value 103 per ft² (NIA)
is a 200 acre regional office and employment park located 0.25 miles East of Junction 27. The site lies within the commercial catchment of Greater (travel to work population of 750,000 persons), the regional capital of the East Midlands and is 15 miles to the North of East Midlands Airport. SAT NAV: Click here for Google map SHEFFIELD M1 FOREST ROAD A611 A619 A61 J29 A614 A1 SALMON LANE LITTLE OAK DRIVE DERBY ROAD A6 A38 DERBY A50 A38 A42 J28 J25 J24 J23a M1 A38 J27 J26 A60 A617 NOTTINGHAM A46 J27 SHERWOOD PARK ESTATE WILLOW DRIVE OSIER DRIVE LAKE VIEW DRIVE A608 DOG AND BEAR LANE ANNESLEY ROAD A611 WEAVERS LANE M42 LEICESTER J21 M1 M69
was designated an Enterprise Zone in 1995 and is fully developed providing a masterplanned Business Park totalling more than two million square feet of office and warehouse accommodation with the office element being approximately 600,000ft². Substantial office occupiers within the park include E-on, Pendragon, Highways England, the Derbyshire Constabulary and DHL by way of illustration. Sherwood Court occupies a highly prominent corner position at the intersection of Willow Drive and Lake View Drive as shown by the aerial photograph of the property. WILLOW DRIVE LAKE VIEW DRIVE
Sherwood Court is a detached L shaped self contained 2 storey / 2.5 storey office building constructed in 2004. The building as designed provides two wings of offices enabling its occupation both as a headquarters building but equally providing the ability to subdivide to provide a multi let building with two self contained suites on each floor, futureproofing its onward use and providing a range of office suites from 3,000ft² to 20,750ft². Features of the building include: Double height entrance reception Comfort cooled Fully accessible raised floor Central core with lift and WCs on each floor Suspended ceiling with inset lighting The building is of steel framed construction with clad curtain wall and glazed elevations under mono pitched roof.
Floor m² ft² Ground 969 10,430 First 905 9,741 Second 54 579 GIA 1,928 20,750 91 car parking spaces are laid out within the block paved and tarmac surfaced car park. Rating Authority Ashfield District Council 210,000
The entire property is let to Countrywide Estate Agents Limited (Company No 00789476) on the residue of a ten year term commencing 30th October 2012. The lease is drawn on fully repairing and insuring terms subject to a Photographic Schedule of Condition (available upon request), the Tenant having the ability to break the lease with effect from 30th October 2017 by serving six months prior notice in writing. The rent is subject to upwards only rent review with effect from 30th October 2017. The passing rent is 249,300 per annum ( 12 per ft²). Countrywide Estate Agents Limited have a strong very low risk profiled covenant as appraised by Experian, scoring 100% with a credit limit of 5,000,000 and a credit rating of 1,700,000. Financial highlights as reported being: 31st December 2012 31st December 2013 31st December 2014 Turnover 300,106,000 332,419,000 368,663,000 Pre-Tax Profit 24,397,000 42,149,000 59,720,000 Net Worth 84,172,000 115,900,000 132,250,000 Countrywide are the UK s largest estate agency and property services group, owned brands include Bairstow Eves, Frank Innes, Londales, Bridgfords, John D Wood, Hamptons and Lambert Smith Hampton, amongst others. More detailed information is available at www.countrywide.co.uk.
Ground Floor First Floor Second Floor
The property has an Rating of D 99. applies at standard rate. Interest is invited at: 2,142,000 (Two million one hundred and forty two thousand pounds) reflecting a net initial yield of 11% when making a prior deduction of 5.8% for Purchaser s costs. John Proctor DD: 0115 841 1130 M: 07887 787 880 E: johnp@fhp.co.uk IMPORTANT NOTICE: Property Misdescriptions Act 1991. All statements contained within this brochure have been provided in good faith and are understood to be correct. Accuracy in respect of all statements cannot be guaranteed as we rely on information provided and they do not form part of any contract or warranty and accordingly: 1) Dimensions, distances and floor areas are approximate and given for guidance purposes only. Potential purchasers should satisfy themselves as to the validity of the guide figures given. 2) Information on tenure of vacancies is provided in good faith and prospective purchasers should have this information verified by their solicitors prior to purchase. 3) Information on rating assessments, availability of services and Town and Country planning matters have been obtained by an oral enquiry to the appropriate planning authority. Fisher Hargreaves Proctor do not warrant that there are no connection charges Inherent in the availability of services to the unit. Prospective purchasers should obtain written confirmation prior to entering into any contract for purchase or lease. 4) Detailed tests have not been undertaken on services, central heating installations, plumbing installations, electrical installations, etc. and purchasers/lessees should undertake independent tests as to the condition of all services and mechanical engineering installations. 5) All guide price and rental figures are quoted exclusive of unless expressly stated to the contrary. FHP 01/16. E&OE. Design by carve-design.co.uk 12231