Unity House ST DAVID S PARK, EWLOE, CH5 3XT OFFICE INVESTMENT / REDEVELOPMENT / OWNER OCCUPIER OPPORTUNITY 57,670 sq ft (5,357 sq m) of modern office accommodation set within 4.5 acres, with 319 car parking spaces
DESCRIPTION Unity House comprises of a modern 3 storey office building, in a highly prominent position, set within 4.5 acres of landscaped grounds. Passenger lifts Double height auditorium conference area with seating for 150 Male, female and disabled WCs Changing rooms and shower facilities Fully fitted canteen facility The property is of steel frame construction set beneath a pitched tiled roof with brick elevations and incorporating powder coated aluminium doubled glazed windows. The property was constructed in 1990 and has benefitted from a programme of recent refurbishment by the existing tenant. The property includes: Suspended ceilings and category II lighting Raised floors Radiators and mechanical ventilation with comfort cooling cassettes Double height atrium and reception Comprehensive UPS system with generators for critical power supply For more information, please contact Neil Kirkham on 07584 300859 or neil.kirkham@cbre.com
THE OPPORTUNITIES Unity House is let on FRI terms to Unilever UK until 11th July 2016 and, as such, offers a variety of opportunities including asset management possibilities through a refurbishment and re-letting strategy; an excellent opportunity for owner occupiers to purchase a highly prominent, quality, stand-alone office building. Redevelopment to alternative uses including residential may also be considered, subject to planning. St David s Park - one of North Wales premier business locations St David s Park is a focal point for inward investment and strategically located 4 miles west of Chester City centre Highly prominent location adjacent to A594, the principal gateway into North Wales Detached high quality HQ style office building extending to 57,670 sq ft with approximately 319 car parking spaces Asset management opportunities to add value through refurbishment and re-letting as whole or in parts Let to Unilever UK Central Resources Limited until July 2016 Current rent passing of 509,130 per annum reflecting a low rent of 8.82 per sq ft There is an outstanding rent review from 12.07.2011. The rent is to be reviewed to the greater of open market rent or the rent formulas defined within the lease. On this basis this would increase the rent to 576,030 per annum from the July 2011 review date. Opportunity for owner occupation or redevelopment for a variety of uses subject to planning Offers in the region of 4,900,000 (subject to contract) Net Initial Yield: 9.82% Yield assuming fixed uplift: 11.11% Reversionary Yield: 15.57% Low Capital Value of 85 per sq ft For more information, please contact Neil Kirkham on 07584 300859 or neil.kirkham@cbre.com
LAKE Southport A TRAVEL TO WORK CATCHMENT AREA (45 MILES) M6 Ramsbottom M66 Rochdale A565 A570 A59 M58 Wigan M60 A676 Bolton A570 SITUATION The property is situated within St David s Park, which is a sought after business park in North Wales. It is situated 4 miles to the west of Chester City centre with hourly rail links to London (2.5 hours journey time). The Park has excellent access to the national road network via the A494 and A55 dual carriageways, leading to Chester, Deeside, North Wales and the greater North West region. Unity House occupies a prime location in the centre of the business park with other major occupiers including Moneysupermarket, HSBC and Redrow Homes. Holywell A55 Ruthin Wallasey Mold 1 Birkenhead 4 A41 M53 A5080 LIVERPOOL Wrexham 16 A483 A562 River Mersey Chester M57 12 A580 Liverpool John Lennon Airport A534 A41 St Helens Widnes M56 A56 A58 Runcorn A56 A533 M6 WARRINGTON RINGTO A49 A534 A54 M56 Northwich A580 A530 Altrincham M6 Crewe M56 A56 M602 M60 3 MANCHESTER ER Knutsford A537 A34 A6 Manchester Airport M60 Stockport 7.5m 15m 25m 35m 45m A52 M67M A537 4 UNITY HOUSE Immediate amenities on the Park include a public house, hotel, fitness centre, Starbucks and bank. A5 LOCATION Ewloe is a small town in Flintshire, Wales. Situated close to the Cheshire/ Wales border. The A55 expressway passes through the town, providing quick accessibility to larger conurbations such as Chester, Wrexham and the Wirral. The local economy continues to attract investment and new businesses, which in turn draws in high calibre employees. Significant employers within the area include Airbus, Bank of America, M&S Money, Royal Bank of Scotland, Iceland, Redrow Homes and Moneysupermarket.
FRONT OPEN PLAN OFFICE FRONT OPEN PLAN OFFICE FE FE CLEANER/ MAINTENANCE LOCKER STORE SERVERY FE LOCKER SECURE STORE FIRST AID LIGHTWELL UPS BASEMENT FOYER FE HUB 2 LOCKER STORE KITCHEN LV SWITCH KITCHEN ENTRANCE L.V. SWITCH SUB STATION BOILER HUB 1 FE FE FRONT OPEN PLAN OFFICE COLD WATER TANK DUCT PLANT FE WCs WCs TERRACE ROLLER SCREEN CAFE BAR VOID OVER CONFERENCE SUITE/AUDITORIUM TERRACE PLANT FLOOR PLANS LOWER GROUND FLOOR PARKING Externally the property benefits from landscaped areas with three surfaced car parks, which are accessed via a barrier controlled entrance system. There are 319 spaces. TENURE The property is held under title number WA714563 by Flintshire County Council on a 999 year long leasehold term from 05.11.1992 at a peppercorn rental. GROUND FLOOR ACCOMMODATION The property has been measured in accordance with IPMS and totals 5,357 sq m (57,670 sq ft) and calculated the following net internal areas: TENANCY Unilever UK Central Resources Limited hold a 15 year and 7 month lease for the whole of the property, expiring on 11th July 2016. The current passing rental is 509,130 per annum. Unilever UK have relocated back to their HQ on the Wirral and as such the building has been left vacant, subject to potential surrender negotiations. Sq m Sq ft Lower Ground Floor 580 6,246 Ground Floor 2,360 25,400 First Floor 2,144 23,088 Second Floor 273 2,937 There is an outstanding rent review from 12.07.2011. The rent is to be reviewed to the greater of open market rent or the rent formulas defined within the lease. On this basis this would increase the rent to 576,030 per annum from the July 2011 review date. Unilever UK Central Resources Limited are a wholly owned subsidiary of Unilever plc. The company was incorporated in 1889 and has a Delphi score of 49/100. Total 5,357 57,670 PROPOSAL FIRST FLOOR ROOF SPACE SECOND FLOOR ROOF SPACE We are instructed to seek offers in the region of 4,900,000 (Four Million, Nine Hundred Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 9.82%, after normal costs of acquisition at 5.8%. A purchase at this level reflects very low capital value of 85 per sq ft. VAT The property is elected for VAT and therefore VAT will be payable on the purchase price. We would anticipate the sale to be dealt with by way of a Transfer of a Going Concern (TOGC). For more information, please contact Neil Kirkham on 07584 300859 or neil.kirkham@cbre.com
NORTH WALES A594 REDROW HOMES HEAD OFFICE THE VILLAGE HOTEL MONEYSUPERMARKET A594 STARBUCKS WALES & WEST HOUSING ASSOCIATION HSBC THE RUNNING HARE PUB LIVERPOOL & MANCHESTER ANWYL CONSTRUCTION For more information, please contact Neil Kirkham, CBRE on Tel: 0151 224 7666, Mob: 07584 300859 or email: neil.kirkham@cbre.com Unity House, St David s Park, Ewloe, Deeside, CH5 3XT