Portcullis CARDIFF Prominent and well located office building Let to The Secretary of State for the Environment
Investment Considerations Portcullis Located on a main arterial route into Cardiff city centre and within close proximity to Cardiff Central railway station and retailing amenities Detached freehold building providing 39,049 sq ft of office accommodation arranged over two connected wings Let to The Secretary of State for the Environment until 5th December 03 at current passing rent of 468,500 per annum (.00 per sq ft) Extensive office car parking ratio of per 500 sq ft Includes flats known as Belgrave Court with a separate dedicated entrance off Cowbridge Road East Potential for alternative use, subject to planning Potential to generate additional income i.e. from advertising space on the site, which overlooks the A48 Offers sought in the region of,300,000 (Two Million Three Hundred Thousand Pounds), subject to contract and exclusive of VAT, reflecting a net initial yield of 9.5%, after allowing for usual purchaser s costs of 5.80%.
57 5 3 3b 3 Warehouse 35 6 Lodge Location Cardiff is the capital city and administrative centre of Wales. With a population of approximately 300,000 people, the city is strategically located approximately 43 miles west of Bristol and 50 miles west of London. There are excellent transport links, the city being served by Junctions 9-33 of the M4 motorway, while Cardiff Central Station provides a direct link to London Paddington in just over hours. Cardiff airport is situated approximately miles from the city centre and provides flights domestically and to a number of European destinations. The property is located on Cowbridge Road East, on the west bank of the River Taff fronting Castle Street, close to the junction with Cathedral Road. Cowbridge Road East is one of the principal arterial routes into Cardiff city centre from the western suburbs of Cardiff and gives access to the M4 at Junction 33, via the A43 dual carriageway (approximately miles away). 59 53 PH 7.9m Portcullis 7.6m LB 3 The City Temple Portcullis 5 Belgrave Court to GREEN STREET Posts Quebec Kenneth Pollard Sutherland Argyle Target El Sub Sta Park View Court to 9 Sloping masonry SM 0.m CR 34 3 8 6 4 5 3 3 MARK STREET 3 Path 0m 5m 50m 75m SWANSEA M4 7 4 M4 3 3a 33 3 3 30 9a 9 8 NEWPORT 3 BRIDGEND CARDIFF Cardiff Airport M5 BRISTOL
NINIAN PARK ROAD Situation M4 J3 The property is situated in Cardiff city centre, in a prominent position on Cowbridge Road East and opposite the attractive Sophia Gardens. Bute Park, Cardiff Castle and the main retailing areas of Queen Street, St Mary Street and St David s Shopping Centre are all in close proximity. The area is well served by public transport with both Cardiff Central Bus and Railway Stations within walking distance. CATHEDRAL ROAD A49 Glamorgan County Cricket Club A470 NORTH ROAD Welsh College of Music & Drama University Coppers Field Police Cathays Park Law Court University City Hall National Museum & Gallery PARK PLACE A46 BOULEVARD DE NANTES GREYFRIARS ROAD PARK PLACE STUTTGARTER STRASSE DUMFRIES PLACE CATHEDRAL ROAD Sophia Gardens Bute Park Hilton Hotel THE FRIARY Capital One Shopping Centre M4 J33 CLARE STREET A46 LOWER CATHEDRAL ROAD WESTGATE STREET HIGH STREET Queens Arcade WORKING STREET QUEEN STREET St Davids Centre River Taff Cardiff RFC St Davids BRIDGE STREET CLARE STREET Cardiff Millenium Stadium MARY STREET UGC Cinema Millenium Plaza WOOD STREET Cardiff Central Library St Davids BUTE TERRACE TUDOR STREET Cardiff Central Station Cardiff Central Station
Cardiff Retail & Commerce The major 750 million extension to the St. David s Shopping Centre, known as St David s II, was completed in October 009, so that St David s now comprises.5 million sq ft of retail space which includes a 80,000 sq ft John Lewis store (the largest outside London). The scheme together with Queen Street has elevated Cardiff into the UK s top 5 retail hierarchy and it is anticipated it will attract several million additional visitors to the city annually, spending an anticipated 50 million per year. The Millennium Stadium has recently been voted one of the seven sporting wonders of the world according to Barclays Spaces For Sports. Cardiff has a wide employment base reflecting its status as the capital city of Wales and a major regional centre. The majority of growth in the past decade has occurred in the financial and business services sector, with this sector accounting for 6.7% of jobs in Cardiff (Promis 007). Cardiff benefits from a strong insurance presence with Legal & General, Admiral and Zurich all major occupiers in the city. Cardiff is also home to multi-national banking firms including Lloyds. Banking Group, Barclays Bank and ING together with a large number of utilities firms including British Telecom, British Gas (Centrica) and SWALEC. There is a large concentration of national government organizations in Cardiff, reflecting its status as the capital city of Wales. The National Assembly for Wales has significant presence at Cardiff Bay and additional departments (Department for Trade & Industry and the Welsh Assembly Government) are also major employers in the area. Whilst finance, public sector and utilities firms comprise the largest employers in the city, there are also a number of professional services firms, the largest of these include law firms Eversheds, Geldards and Hugh James and global accounting firms PWC, Deloitte and KPMG. The large student population within the city is derived from the two prominent universities being Cardiff University, which has 8,000 students and UWIC with,000 students. Cardiff University is ranked 7th in the UK for research expertise and is now ranked as a Top 00 World University. Description Portcullis provides a total of 39,049 sq ft of office accommodation split between two wings (North and South) separated by a communal lift and stair core leading to a ground floor reception off Green Street. The North Wing comprises a five storey building, with the top two floors comprising flats, known as Belgrave Court, with a separate dedicated access to the side of the building off Cowbridge Road East. The South Wing comprises a seven storey office building that runs alongside Green Street. The property provides flexibility of accommodation, enabling subdivision of accommodation on a floor by floor basis, per wing, or separate suites. The offices benefit from the following internal specification: Suspended ceilings Recessed VDU compatible lighting Air conditioning Perimeter trunking Male, female and disabled WC facilities on each floor Gas central heating Portcullis
Accommodation Portcullis The property provides the following net internal floor areas: Floor Cowbridge Road East Green Street Total North WING South WING Ground 6,95 sq ft,85 sq ft 8,777 sq ft First 6,95 sq ft,78 sq ft 9,680 sq ft Second 6,95 sq ft,78 sq ft 9,680 sq ft Third Resi,78 sq ft,78 sq ft Fourth Resi,78 sq ft,78 sq ft Fifth -,78 sq ft,78 sq ft Sixth -,78 sq ft,78 sq ft Total 0,856 sq ft 8,93 sq ft 39,049 sq ft South Wing Car Parking The property benefits from secure basement level car parking accessed from Green Street, providing 6 spaces, as well as a surface car park accessed from Lower Cathedral Road, providing an additional 0 spaces and 6 garage units for the use of Belgrave Court. The 76 car spaces dedicated to the office accommodation reflects an excellent ratio for the city centre of approximately per 500 sq ft. In addition, extensive public car parking is available opposite the property at Sophia Gardens. North Wing
Site The property is located on a site which extends to approximately 0.3 hectares (0.57 acres). Tenure We understand that the property is held freehold. Tenancies The offices are let in their entirety to The Secretary of State for the Environment on a full repairing and insuring lease for a term of 4 years commencing on 5th December 97, expiring 5th December 03 at a current rent of 468,500 per annum (.00 per sq ft). The tenant is no longer in occupation. The north wing of the ground floor has been sub-let to Consumer Focus. The flats in Belgrave Court are let on a full repairing and insuring 99 year lease from 5th December 97 at a peppercorn rent. Seven of the residential sub-tenants have extended their leases pursuant to The Leasehold Reform and Urban Development Act 993 Viewing Viewing strictly by prior appointment with the agents: Owen Jones 09 05 3005 ojones@lsh.co.uk David Blyth 09 049 0499 dblyth@lsh.co.uk 09 049 0499 VAT The property is not VAT registered and therefore there will be no VAT payable on the purchase price. Proposal Offers are sought in the region of,300,000 (Two Million Three Hundred Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect an attractive net initial yield of 9.5%, after allowing for usual purchaser s costs of 5.80%. Further Information Further details are available upon request including full CAD floor plans Lambert Smith Hampton Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries and their joint agents if any ( LSH ) for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) Any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists impressions or architects drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters. For information on other sales please visit and register at www.lshinvestmentsales.co.uk and www.lshauctions.co.uk June 03
This certificate has been produced by E P C g e n, a software module developed by B R E for C L G under contract with F M. The author of the program is J o s e O r t i z (o r t i z j @ b r e. c o. u k ). Some security features proves the authenticity of this document. SK-60440-0600 4 4 7 6 6 0-0 3 9 7-3 0 9-0 9 0-0 8 9 0-4 3 5 - S K 6 0 4 4 0 0 6 0 0 - D C L G x E P C g e n 0 0 8 08 34 Portcullis Energy Performance Certificate Non-Domestic Building H M Customs & Excise Portcullis, Cowbridge Road East CARDIFF CF 9SS Certificate Reference Number: 0397-309-090-0890-435 CARDIFF This certificate shows the energy rating of this building. It indicates the energy efficiency of the building fabric and the heating, ventilation, cooling and lighting systems. The rating is compared to two benchmarks for this type of building: one appropriate for new buildings and one appropriate for existing buildings. There is more advice on how to interpret this information on the Government's website www.communities.gov.uk/epbd. Energy Performance Asset Rating More energy efficient A+ Net zero CO emissions Prominent and well located office building Let to The Secretary of State for the Environment A 0-5 B 6-50 C 5-75 D 76-00 E 0-5 F 6-50 G Over 50 Less energy efficient Technical information Main heating fuel: Natural Gas Building environment: Air Conditioning Total useful floor area (m ): 4388 Building complexity (NOS level): 4 0 This is how energy efficient the building is. Benchmarks Buildings similar to this one could have ratings as follows: 58 3 If newly built If typical of the existing stock