108 William Street - Domain
Bathurst NSW 4/108 William Street Information Memorandum
For Sale
4/108 William Street, Bathurst NSW
Table of Contents Introduction
2
Executive Summary
3
Location
4
Location Maps
5
Site Particulars
5
Property Details
7
Room Rates & Occupancy
9
Financials
10
Tenant Profile
11
Sale Process
12
Contact
12
Property Management
13
Disclaimer
15
Annexures Strata Plan Expressions of Interest Form Available on Request Sale Contract
1
Information Memorandum
1
4/108 William Street, Bathurst NSW
Introduction Since being established in 1975, Burgess Rawson’s offices in Sydney, Canberra, Melbourne, Brisbane, Gold Coast, Perth and associated office in Kuala Lumpur have had considerable success in marketing properties of this calibre. Burgess Rawson are property specialists who manage, sell, value and lease commercial assets for our large investor and owner occupier client base. We foster long term relationships, adhere to our market focus, are flexible, adaptable and are known for our specialist skills, seamless national network and iconic investment Portfolio Auctions. Based on our knowledge and experience, Burgess Rawson is confident in recommending this property as an outstanding investment opportunity.
2
Information Memorandum
2
4/108 William Street, Bathurst NSW
Executive Summary Investment Features • • • • • • • • •
Four immaculate boutique serviced apartments for sale in one line Excellent presentation, each two bedroom apartment decorated to a different theme Four valuable security car spaces on title Apartments comprise the top floor of the “The Mews” building Prime location surrounded by major shopping centres, Woolworths, Coles, Aldi, Dan Murphy’s, cinema, major banks and Bathurst’s historical and popular tourist sites Bathurst: a major regional town with an established & growing population of 33,110 (census 2011) Opportunity to run as a business or subdivide and sell each unit individually Potential Gross Income: $200,000 pa + GST (estimated) Indicative Price: $1,400,000
Strata Area •
559 sqm (According to annexed Strata Plan)
Lease Details •
Short to long-term accomodation
Estimated Current Net Income •
$115,788 pa + GST
Method of Sale •
For sale by Private Treaty
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Information Memorandum
3
4/108 William Street, Bathurst NSW
Location Bathurst is a regional city servicing central New South Wales. Approximately 200 kilometres west of Sydney, Bathurst is the oldest inland settlement in Australia. Bathurst has an estimated resident population of 42,354, expected to grow to 53, 851 by 2036 which reflects a 24.79% increase. Further to the resident population of the city, Bathurst benefits from a greater retail catchment area of approximately 146,000 people. Bathurst is strategically located at the junction of the Great Western, Mid-Western and Mitchell Highways resulting in Western NSW, Sydney, Newcastle, Wollongong and Canberra, all being within four hours’ drive. The city has a reliable and dynamic transport system which is able to distribute products easily and cost effectively. Additionally Bathurst has two train terminals, Grainforce and Kelso Logistics that can offer container transport to Port Botany as well as Newcastle and Wollongong Ports. Bathurst has a strong and diverse economy underpinned by the retail, manufacturing and education industries and produces an approximate gross regional product of $1.96 billion. As the hub of Central New South Wales the city provides access to a market of more than 8 million people and regularly attracts new business. The property is conveniently located approximately 150m south west of the Bathurst CBD and 20m from the intersection of William and Russell Street. The units are on the top floor of the “Mews Building” located behind the heritage listed “Royal Hotel”. Pedestrian access is via William Street through the Royal Hotel and vehicle parking accessed via Gunthers Lane. The property enjoys its absolute central CBD location and is within walking distance to all the major banks, major shopping centres, Woolworths, Coles, Aldi, Big W, Fast Food, cafes, restaurants and an array of Bathurst’s historical and tourist sites.
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Information Memorandum
4
4/108 William Street, Bathurst NSW
Location Maps
5
Information Memorandum
5
4/108 William Street, Bathurst NSW
Site Particulars Title Details Lot 4 in Strata Plan 72755 Strata Area 559 sqm (According to annexed Strata Plan) Zoning B3 Commercial Core under Bathurst LEP 2014 Objectives of zone: • To provide a wide range of retail, business, office, entertainment, community and other suitable land uses that serve the needs of the local and wider community. • To encourage appropriate employment opportunities in accessible locations. • To maximise public transport patronage and encourage walking and cycling. • To encourage development that confirms the role of the Bathurst central business district as the primary retail and business centre in the region. • To protect and conserve the historic and scenic quality of the Bathurst central business district as a key economic and social asset. Permitted without consent: Environmental protection works; Home-based child care; Home businesses; Home occupations; Roads Permitted with consent: Child care centres; Commercial premises; Community facilities; Educational establishments; Entertainment facilities; Function centres; Hotel or motel accommodation; Information and education facilities; Light industries; Medical centres; Passenger transport facilities; Recreation facilities (indoor); Registered clubs; Respite day care centres; Restricted premises; Waste or resource transfer stations; Any other development not specified in item 2 or 4 For all information on zoning and development www.bathurst.nsw.gov.au
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Information Memorandum
6
4/108 William Street, Bathurst NSW
Property Details The property is located on the top floor of an extension to the rear of the heritage listed “Royal Hotel” which was completed in 2000 and known as “The Mews”. A modern foyer area connects both buildings where a lift provides access to all floors including the basement where the four on title security car spaces are located. The top floor comprises four similar self-contained apartments each consisting of a main bedroom with built in wardrobes, kitchen with modern appliances, split air-conditioning, balcony, bathroom, laundry and living area leading to a mezzanine loft bedroom with ensuite and storage. The apartments are fully furnished with appliances and present very well and have been operated as a short to long term accommodation.
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Information Memorandum
7
4/108 William Street, Bathurst NSW
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Information Memorandum
8
4/108 William Street, Bathurst NSW
Room Rates & Occupancy Room Rates Short Stay Room
1 Bed Per Night
2 Bed Per Night
All Rooms
$198 mid-week
$280 mid-week
$232 weekends
$298-$363 weekends
Note: Room rates are variable depending on the time of year due to different sporting events and holiday seasons. During the October car races the cost for 1 or 2 bedrooms is $5500 for 4 or 5 nights.
Weekly/Long Stay Room Rates Room
Price Weekly +
Mews 1
$990 - $1,320
Mews 2, 3 & 4
$1650
Occupancy Period
April 2015 to April 2016
Mews 1
79%
Mews 2
95%
Mews 3
54%
Mews 4
44%
The vacancy factor offers great potential for adding value by increasing occupancy.
Strata Title (STCA) An alternate use for the property is to strata title each unit and sell individually. The location is ideal for people working in the CBD, university students or retirees looking to downsize.
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Information Memorandum
9
4/108 William Street, Bathurst NSW
Financials April 15 to April 16 (Gross Income excl GST)
$178,860
Less Yearly Statutory Outgoings Council Rates
$2,804
Water Rates
$1,000
Strata Levies
$21,984
Land Tax (on single holding basis)
Nil
Insurance
$1,084
Less Yearly Operating Expenses Repairs and Maintenance
$4,524
Gas & Electricity
$5,584
Bank Fees
$2,187
Advertising
$1,946
Booking Fees and Commissions
$1,447
Cleaning & Laundry
$6,164
Employment Expenses
$8,870
Legal Fees
$579
Food & Beverages
$300
Printing, postage & stationary
$849
Telephone, Internet & Fax
$3,750
Total Outgoings & Expenses
$63,072
Net Operating Income pa (excl GST)
$115,788
Please note that the above information is intended as a summary of the lease agreement supplied and has been represented as accurately as possible. We recommend prospective purchasers make their own enquiries to gain a thorough understanding of the provisions of the lease contained within in the Sale Contract.
10
Information Memorandum
10
4/108 William Street, Bathurst NSW
Tenant Profile
The Mews Apartments are in the very heart of Bathurst on the site of the heritage listed Royal Hotel building and across from the Bathurst Court House and the Bathurst Memorial Entertainment Centre. The apartments offer competitively priced boutique accommodation for the discerning traveller. The two bedroom, two bathroom apartments are spacious and fully self- contained. There is secure parking and a lift. From the balconies take in the views of the mist rising in the valley or enjoy a drink watching the sun set reflected in the clouds above the hills. For the Bathurst Car Race Weeks there is a bus near the front door to take you to Mount Panorama Race track. Source: http://www.bathurstheritage.com.au/the-mews-apartments/
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Information Memorandum
11
4/108 William Street, Bathurst NSW
Sale Process Method of Sale The property is offered for sale by Private Treaty Indicative Price: $1,400,000
Inspections Inspections can be arranged by prior appointment.
Terms of Sale Deposit of 10% payable upon exchange and the balance upon settlement. It is proposed the property will be offered as a 'going concern' and if the purchaser meets the provisions of the GST legislation the sale will not incur GST.
Contact Kieran Bourke D 02 8113 5201 M 0417 418 007 E [email protected]
12
Information Memorandum
12
4/108 William Street, Bathurst NSW
Property Management At Burgess Rawson, we’re not only market leaders in investment sales, but did you know that we can enhance the value and return of your investment every day? This is done by providing a professional property management service that will ensure long-term success of your asset. Our Property Management Department •
•
•
• • •
With a nation-wide management portfolio valued in excess of $2 billion and with market knowledge of all forms of commercial property, we have the ability to manage your property nomatter the type or its location Our team prides itself on relationship building with all of our tenants, and has built quality relationships with blue chip companies such as Bunnings, Coles, ING, Liquorland, Woolworths as well as the four major Banks and many small businesses. This skill is paramount in tenant retention, avoiding long periods of vacancy and minimises arrears Our experienced team will add value to your asset by taking an investor minded management approach. We will forecast and maximise your return by thinking “return on investment” in all property dealings Due to the fact that we manage all forms of commercial, industrial and retail property, we can tailor a management system to suit your individual requirements We are commercially minded, monitor expenditure closely & treat each property as if it were our own By undertaking regular inspections of all our managed assets to ensure presentation is at its best at all times and through close monitoring of critical lease terms and conditions we ensure that no obligation or detail is missed...minimising risk to our clients
There are many other ways that our management team can maximise your property’s investment return, even in difficult market conditions. To find out how we can help you, please call us today. Martin Fisher Director, Property Management Division D 02 8113 5244 O 02 9232 6288
13
Information Memorandum
13
4/108 William Street, Bathurst NSW
The Heritage Listed “Royal Hotel” Bathurst NSW
14
Information Memorandum
14
4/108 William Street, Bathurst NSW
Disclaimer This Information Memorandum has been prepared
directors, employees, agents, conjunctional
in good faith and with due care by Burgess Rawson (NSW) Pty Ltd and if applicable, its
agents, advisors or representatives, as the case may be:
conjunctional agent. This disclaimer may also extend to include any other Burgess Rawson
•
Australian office referred to henceforth as
reliability, reasonableness or completeness of the information or any opinion or
“Burgess Rawson”. By accepting this Information Memorandum, recipients agree for themselves and their affiliates to the terms of this Disclaimer.
statement contained in this Information Memorandum; •
This Information Memorandum has been prepared
errors or omissions from or failure to correct, any information in this Information
other person. It is not to be construed as a recommendation by Burgess Rawson that any
Memorandum or any other written or oral communications transmitted to any recipient;
recipient proceeds with any investigation or with any purchase and/or lease of a property or •
Memorandum or any other written or oral communication transmitted or made
Intending purchasers should note: In the event of any inconsistency of this property report and the contract for sale of
available to a recipient, or to notify any person should any such information cease to
land, the provisions of the contract for sale of land shall prevail. •
•
The lease details (if applicable) contained in this Information Memorandum are only illustrative of the relevant lease document/s. Figures for outgoings and rentals as stated in this Information Memorandum may be based on estimates. Potential purchasers should make their own judgement as to the likely net income.
•
The only representations and warranties which have any legal effect will be those that are expressly included in any legally binding contract that may be concluded with a
•
successful purchaser. All stated dimensions and areas are approximate.
To the maximum extent permitted by law, no member of Burgess Rawson, their respective
and/or is under any duty of disclosure or fiduciary duty or any obligation to update any information contained in this Information
and analysis.
•
shall have any liability (including for negligence) for any statements, opinions, information or matters arising out of, contained in or derived from, or for any
solely for general information purposes and not as specific advice to any particular recipient or any
service. In all cases recipients should carry out their own independent investigation, assessment
provides any undertaking, express or implied, as to the accuracy, adequacy,
be correct after the date hereof or the date of provision, as the case may be, •
and each recipient, by accepting delivery of this Information Memorandum, waives all rights in that regard.
This Information Memorandum is provided to the recipient on a confidential basis, and is not to be resupplied to any other person without the prior written consent of Burgess Rawson. The recipient may, however, disclose the Information Memorandum to any of its employees, advisors (including lawyers and accountants) or agents to the extent absolutely necessary to allow the recipient to evaluate the property/properties and to act on an opportunity to purchase the property/properties, but will ensure that those employees, advisors or agents maintain the confidentiality of this Information Memorandum. 15
Information Memorandum
15
For Sale
4/108 William Street, Bathurst NSW
Table of Contents Introduction
2
Executive Summary
3
Location
4
Location Maps
5
Site Particulars
5
Property Details
7
Room Rates & Occupancy
9
Financials
10
Tenant Profile
11
Sale Process
12
Contact
12
Property Management
13
Disclaimer
15
Annexures Strata Plan Expressions of Interest Form Available on Request Sale Contract
1
Information Memorandum
1
4/108 William Street, Bathurst NSW
Introduction Since being established in 1975, Burgess Rawson’s offices in Sydney, Canberra, Melbourne, Brisbane, Gold Coast, Perth and associated office in Kuala Lumpur have had considerable success in marketing properties of this calibre. Burgess Rawson are property specialists who manage, sell, value and lease commercial assets for our large investor and owner occupier client base. We foster long term relationships, adhere to our market focus, are flexible, adaptable and are known for our specialist skills, seamless national network and iconic investment Portfolio Auctions. Based on our knowledge and experience, Burgess Rawson is confident in recommending this property as an outstanding investment opportunity.
2
Information Memorandum
2
4/108 William Street, Bathurst NSW
Executive Summary Investment Features • • • • • • • • •
Four immaculate boutique serviced apartments for sale in one line Excellent presentation, each two bedroom apartment decorated to a different theme Four valuable security car spaces on title Apartments comprise the top floor of the “The Mews” building Prime location surrounded by major shopping centres, Woolworths, Coles, Aldi, Dan Murphy’s, cinema, major banks and Bathurst’s historical and popular tourist sites Bathurst: a major regional town with an established & growing population of 33,110 (census 2011) Opportunity to run as a business or subdivide and sell each unit individually Potential Gross Income: $200,000 pa + GST (estimated) Indicative Price: $1,400,000
Strata Area •
559 sqm (According to annexed Strata Plan)
Lease Details •
Short to long-term accomodation
Estimated Current Net Income •
$115,788 pa + GST
Method of Sale •
For sale by Private Treaty
3
Information Memorandum
3
4/108 William Street, Bathurst NSW
Location Bathurst is a regional city servicing central New South Wales. Approximately 200 kilometres west of Sydney, Bathurst is the oldest inland settlement in Australia. Bathurst has an estimated resident population of 42,354, expected to grow to 53, 851 by 2036 which reflects a 24.79% increase. Further to the resident population of the city, Bathurst benefits from a greater retail catchment area of approximately 146,000 people. Bathurst is strategically located at the junction of the Great Western, Mid-Western and Mitchell Highways resulting in Western NSW, Sydney, Newcastle, Wollongong and Canberra, all being within four hours’ drive. The city has a reliable and dynamic transport system which is able to distribute products easily and cost effectively. Additionally Bathurst has two train terminals, Grainforce and Kelso Logistics that can offer container transport to Port Botany as well as Newcastle and Wollongong Ports. Bathurst has a strong and diverse economy underpinned by the retail, manufacturing and education industries and produces an approximate gross regional product of $1.96 billion. As the hub of Central New South Wales the city provides access to a market of more than 8 million people and regularly attracts new business. The property is conveniently located approximately 150m south west of the Bathurst CBD and 20m from the intersection of William and Russell Street. The units are on the top floor of the “Mews Building” located behind the heritage listed “Royal Hotel”. Pedestrian access is via William Street through the Royal Hotel and vehicle parking accessed via Gunthers Lane. The property enjoys its absolute central CBD location and is within walking distance to all the major banks, major shopping centres, Woolworths, Coles, Aldi, Big W, Fast Food, cafes, restaurants and an array of Bathurst’s historical and tourist sites.
4
Information Memorandum
4
4/108 William Street, Bathurst NSW
Location Maps
5
Information Memorandum
5
4/108 William Street, Bathurst NSW
Site Particulars Title Details Lot 4 in Strata Plan 72755 Strata Area 559 sqm (According to annexed Strata Plan) Zoning B3 Commercial Core under Bathurst LEP 2014 Objectives of zone: • To provide a wide range of retail, business, office, entertainment, community and other suitable land uses that serve the needs of the local and wider community. • To encourage appropriate employment opportunities in accessible locations. • To maximise public transport patronage and encourage walking and cycling. • To encourage development that confirms the role of the Bathurst central business district as the primary retail and business centre in the region. • To protect and conserve the historic and scenic quality of the Bathurst central business district as a key economic and social asset. Permitted without consent: Environmental protection works; Home-based child care; Home businesses; Home occupations; Roads Permitted with consent: Child care centres; Commercial premises; Community facilities; Educational establishments; Entertainment facilities; Function centres; Hotel or motel accommodation; Information and education facilities; Light industries; Medical centres; Passenger transport facilities; Recreation facilities (indoor); Registered clubs; Respite day care centres; Restricted premises; Waste or resource transfer stations; Any other development not specified in item 2 or 4 For all information on zoning and development www.bathurst.nsw.gov.au
6
Information Memorandum
6
4/108 William Street, Bathurst NSW
Property Details The property is located on the top floor of an extension to the rear of the heritage listed “Royal Hotel” which was completed in 2000 and known as “The Mews”. A modern foyer area connects both buildings where a lift provides access to all floors including the basement where the four on title security car spaces are located. The top floor comprises four similar self-contained apartments each consisting of a main bedroom with built in wardrobes, kitchen with modern appliances, split air-conditioning, balcony, bathroom, laundry and living area leading to a mezzanine loft bedroom with ensuite and storage. The apartments are fully furnished with appliances and present very well and have been operated as a short to long term accommodation.
7
Information Memorandum
7
4/108 William Street, Bathurst NSW
8
Information Memorandum
8
4/108 William Street, Bathurst NSW
Room Rates & Occupancy Room Rates Short Stay Room
1 Bed Per Night
2 Bed Per Night
All Rooms
$198 mid-week
$280 mid-week
$232 weekends
$298-$363 weekends
Note: Room rates are variable depending on the time of year due to different sporting events and holiday seasons. During the October car races the cost for 1 or 2 bedrooms is $5500 for 4 or 5 nights.
Weekly/Long Stay Room Rates Room
Price Weekly +
Mews 1
$990 - $1,320
Mews 2, 3 & 4
$1650
Occupancy Period
April 2015 to April 2016
Mews 1
79%
Mews 2
95%
Mews 3
54%
Mews 4
44%
The vacancy factor offers great potential for adding value by increasing occupancy.
Strata Title (STCA) An alternate use for the property is to strata title each unit and sell individually. The location is ideal for people working in the CBD, university students or retirees looking to downsize.
9
Information Memorandum
9
4/108 William Street, Bathurst NSW
Financials April 15 to April 16 (Gross Income excl GST)
$178,860
Less Yearly Statutory Outgoings Council Rates
$2,804
Water Rates
$1,000
Strata Levies
$21,984
Land Tax (on single holding basis)
Nil
Insurance
$1,084
Less Yearly Operating Expenses Repairs and Maintenance
$4,524
Gas & Electricity
$5,584
Bank Fees
$2,187
Advertising
$1,946
Booking Fees and Commissions
$1,447
Cleaning & Laundry
$6,164
Employment Expenses
$8,870
Legal Fees
$579
Food & Beverages
$300
Printing, postage & stationary
$849
Telephone, Internet & Fax
$3,750
Total Outgoings & Expenses
$63,072
Net Operating Income pa (excl GST)
$115,788
Please note that the above information is intended as a summary of the lease agreement supplied and has been represented as accurately as possible. We recommend prospective purchasers make their own enquiries to gain a thorough understanding of the provisions of the lease contained within in the Sale Contract.
10
Information Memorandum
10
4/108 William Street, Bathurst NSW
Tenant Profile
The Mews Apartments are in the very heart of Bathurst on the site of the heritage listed Royal Hotel building and across from the Bathurst Court House and the Bathurst Memorial Entertainment Centre. The apartments offer competitively priced boutique accommodation for the discerning traveller. The two bedroom, two bathroom apartments are spacious and fully self- contained. There is secure parking and a lift. From the balconies take in the views of the mist rising in the valley or enjoy a drink watching the sun set reflected in the clouds above the hills. For the Bathurst Car Race Weeks there is a bus near the front door to take you to Mount Panorama Race track. Source: http://www.bathurstheritage.com.au/the-mews-apartments/
11
Information Memorandum
11
4/108 William Street, Bathurst NSW
Sale Process Method of Sale The property is offered for sale by Private Treaty Indicative Price: $1,400,000
Inspections Inspections can be arranged by prior appointment.
Terms of Sale Deposit of 10% payable upon exchange and the balance upon settlement. It is proposed the property will be offered as a 'going concern' and if the purchaser meets the provisions of the GST legislation the sale will not incur GST.
Contact Kieran Bourke D 02 8113 5201 M 0417 418 007 E [email protected]
12
Information Memorandum
12
4/108 William Street, Bathurst NSW
Property Management At Burgess Rawson, we’re not only market leaders in investment sales, but did you know that we can enhance the value and return of your investment every day? This is done by providing a professional property management service that will ensure long-term success of your asset. Our Property Management Department •
•
•
• • •
With a nation-wide management portfolio valued in excess of $2 billion and with market knowledge of all forms of commercial property, we have the ability to manage your property nomatter the type or its location Our team prides itself on relationship building with all of our tenants, and has built quality relationships with blue chip companies such as Bunnings, Coles, ING, Liquorland, Woolworths as well as the four major Banks and many small businesses. This skill is paramount in tenant retention, avoiding long periods of vacancy and minimises arrears Our experienced team will add value to your asset by taking an investor minded management approach. We will forecast and maximise your return by thinking “return on investment” in all property dealings Due to the fact that we manage all forms of commercial, industrial and retail property, we can tailor a management system to suit your individual requirements We are commercially minded, monitor expenditure closely & treat each property as if it were our own By undertaking regular inspections of all our managed assets to ensure presentation is at its best at all times and through close monitoring of critical lease terms and conditions we ensure that no obligation or detail is missed...minimising risk to our clients
There are many other ways that our management team can maximise your property’s investment return, even in difficult market conditions. To find out how we can help you, please call us today. Martin Fisher Director, Property Management Division D 02 8113 5244 O 02 9232 6288
13
Information Memorandum
13
4/108 William Street, Bathurst NSW
The Heritage Listed “Royal Hotel” Bathurst NSW
14
Information Memorandum
14
4/108 William Street, Bathurst NSW
Disclaimer This Information Memorandum has been prepared
directors, employees, agents, conjunctional
in good faith and with due care by Burgess Rawson (NSW) Pty Ltd and if applicable, its
agents, advisors or representatives, as the case may be:
conjunctional agent. This disclaimer may also extend to include any other Burgess Rawson
•
Australian office referred to henceforth as
reliability, reasonableness or completeness of the information or any opinion or
“Burgess Rawson”. By accepting this Information Memorandum, recipients agree for themselves and their affiliates to the terms of this Disclaimer.
statement contained in this Information Memorandum; •
This Information Memorandum has been prepared
errors or omissions from or failure to correct, any information in this Information
other person. It is not to be construed as a recommendation by Burgess Rawson that any
Memorandum or any other written or oral communications transmitted to any recipient;
recipient proceeds with any investigation or with any purchase and/or lease of a property or •
Memorandum or any other written or oral communication transmitted or made
Intending purchasers should note: In the event of any inconsistency of this property report and the contract for sale of
available to a recipient, or to notify any person should any such information cease to
land, the provisions of the contract for sale of land shall prevail. •
•
The lease details (if applicable) contained in this Information Memorandum are only illustrative of the relevant lease document/s. Figures for outgoings and rentals as stated in this Information Memorandum may be based on estimates. Potential purchasers should make their own judgement as to the likely net income.
•
The only representations and warranties which have any legal effect will be those that are expressly included in any legally binding contract that may be concluded with a
•
successful purchaser. All stated dimensions and areas are approximate.
To the maximum extent permitted by law, no member of Burgess Rawson, their respective
and/or is under any duty of disclosure or fiduciary duty or any obligation to update any information contained in this Information
and analysis.
•
shall have any liability (including for negligence) for any statements, opinions, information or matters arising out of, contained in or derived from, or for any
solely for general information purposes and not as specific advice to any particular recipient or any
service. In all cases recipients should carry out their own independent investigation, assessment
provides any undertaking, express or implied, as to the accuracy, adequacy,
be correct after the date hereof or the date of provision, as the case may be, •
and each recipient, by accepting delivery of this Information Memorandum, waives all rights in that regard.
This Information Memorandum is provided to the recipient on a confidential basis, and is not to be resupplied to any other person without the prior written consent of Burgess Rawson. The recipient may, however, disclose the Information Memorandum to any of its employees, advisors (including lawyers and accountants) or agents to the extent absolutely necessary to allow the recipient to evaluate the property/properties and to act on an opportunity to purchase the property/properties, but will ensure that those employees, advisors or agents maintain the confidentiality of this Information Memorandum. 15
Information Memorandum
15
