Office

The Parks Business Park, Haydock (Unit 18 & Unit 20)

The Parks Warrington, United Kingdom WA12 0JQ
Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. Approval for Deal Room access requires review by our Broker Team. You will be notified by email once your access is granted. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.
I accept the confidentiality agreement I accept the confidentiality agreement
Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key Facts

Year Built 1999
Tenure Type Freehold
Building Area

Property Description

An opportunity to acquire two modern detached office buildings on the very popular and well established The Parks Business Park in Haydock. Located in an excellent location with fantastic amenities and transport links.


Positioned midway between Manchester and Liverpool, immediately adjacent to junction 23 of the M6 Motorway and A580 (East Lancs Road) providing unrivalled access to both the Greater Manchester and Merseyside combined conurbations.


Unit 18 and Unit 20 are detached Grade A modern offices with elevated landscaping and ample car parking.


Both properties benefit from the following specification:


  • Open plan and cellular office space
  • Full access raised floors
  • Suspended ceilings incorporating recessed LED lighting
  • Gas fired central heating
  • Ladies, gents and disabled WC facilities
  • Kitchen
  • VRF air conditioning system
  • 8-person Otis passenger lifts

Investment Highlights

Unit 18 comprises an 11,739 sq ft Grade A office over a ground and first floor.

Let to Maintel Europe Limited on a 10-year FRI lease from 24 April 2012 (1.5 years unexpired).

The passing rent of £151,500 per annum reflects £12.90 per sq ft including car parking


Unit 20 comprises a 9,519 sq ft Grade A office over a ground and first floor.

Let to Speedy Asset Services Ltd on a 10-year FRI lease from 23November 2019 (9.2 years unexpired). There is a tenant break on 23 November 2024.

The passing rent of £138,373 per annum reflects £14.54 per sq ft including car parking


The total passing rent combined of the two units is £289,873 per annum reflecting a blended rent of only £13.64 per sq ft


The Weighted Average Unexpired Lease Term is 5.2 years to expiry and 2.75 years to tenant break options


Both tenants are established with “Very Low Risk” credit ratings


Freehold


Low Capital Value of only £127 per sq ft.


We are instructed to seek offers in excess of £2,700,000 (Two Million Seven Hundred Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 10% assuming purchasers’ costs of 6.8%

Last Updated Date: 16 Oct 2020
James Porteous
James Porteous
Director - Capital Markets
Andrew Hilbourne
Andrew Hilbourne
Director

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Last Updated Date: 16 Oct 2020

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