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
- VRF air conditioning system
- 8-person Otis passenger lifts
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
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%