established office investment - Property Pilot
FOR SALE
ESTABLISHED OFFICE INVESTMENT
THE SHAKESPEARE CENTRE, 45-51 SHAKESPEARE STREET, SOUTHPORT, PR8 5AB PRICE ON APPLICATION \ Freehold. \ Comprising ground floor, three upper floors and 109 car spaces. \ Current passing rent approx. £195,100.
AVAILABLE SPACE 3,290.41m² (35,418sq ft) on a site area of 0.41 Ha (1.01 Acres)
LOCATION
ACCOMMODATION
The property occupies a prominent location fronting Shakespeare Street, close to Southport town centre.
We have been provided with the Net Internal Area (NIA) of the property as follows:-
The surrounding area is largely residential with Shakespeare Street being the local centre with shops, cafes etc. The street was highlighted recently in a local newspaper as being a “bustling road with real finds and services”. Shakespeare Street is a main bus route, being of mixed use, predominantly retail and business services, as well as being home to the newly constructed Salvation Army Headquarters.
Site area 0.41 ha (1.01 acres).
Shakespeare Street leads to the A570 Eastbank Street which in turn leads to Lord Street and Southport town centre, approximately ½ mile north west of the subject property.
AREA Ground Floor Mezzanine Floor First Floor First Floor Mezzanine Second Floor Second Floor Mezzanine Third Floor Fourth Floor Total
2
M 905.89 97.55 534.75 358.60 415.45 354.80 158.86 464.51 3,290.41
SQ FT 9,751 1,050 5,756 3,860 4,472 3,819 1,710 5,000 35,418
DESCRIPTION TENURE The property comprises a detached four storey office building built originally in the late 1960’s/1970’s of framed construction. Externally, it is phased with brick and benefits from UPVC double glazing. Internally the property is divided on each floor into a multilet office building and finished to the following specification:• • • • • • • •
Painted plastered walls and ceilings/carpeted floors Fluorescent strip lighting Full gas central heating Life access to all floors 24 hour access Intruder alarm CCTV Car park with space for 109 cars
The property is held freehold under 7 individual titles. Further information is available upon request.
LEGAL COSTS Each party to be responsible for their own legal costs incurred in the transaction.
TERMS The intention is to sell the property by way of a Transfer of a Going Concern (TOGC). Further information to include guide price is available upon request.
The property is managed by a full time property manager.
BUSINESS RATES VAT We understand that the property is elected for VAT and therefore VAT will be charged on the transaction.
For more information, visit eddisons.com/property T: 0151 268 5280
A schedule of the rating assessment as entered into the 2017 Rating List is available upon request.
TENANCIES The property is let to 19 individual tenants with a rent passing of £195,109.00 per annum as at 5 February 2018. A service charge, which includes the cost of the full time property manager, is collected from the tenants currently at approximately £75,772.80 per annum, following a 3.5% increase with effect from 1 March 2018. The charge also covers the maintenance and upkeep of common parts as well as heating of the entire building and lighting of common areas. At the present time the entire property is fully occupied. An information pack is available upon request to include the following:• • • • •
Tenancy schedule Land registry entries and associated plans Schedule of outgoings Schedule summarising occupancy levels over the past 7 years Service charge schedule 2010 to 2017
VIEWING & FURTHER INFORMATION Viewing strictly by prior appointment with the sole agent: Eddisons Tel / 0151 268 5280 Mob / 07979 541260 Email / [email protected] REVISED FEBRUARY 2018 SUBJECT TO CONTRACT FILE REF / 791.0002A
For more information, visit eddisons.com/property T: 0151 268 5280
For more information, visit eddisons.com/property T: 0151 268 5280
For more information, visit eddisons.com/property T: 0151 268 5280
ESTABLISHED OFFICE INVESTMENT
THE SHAKESPEARE CENTRE, 45-51 SHAKESPEARE STREET, SOUTHPORT, PR8 5AB PRICE ON APPLICATION \ Freehold. \ Comprising ground floor, three upper floors and 109 car spaces. \ Current passing rent approx. £195,100.
AVAILABLE SPACE 3,290.41m² (35,418sq ft) on a site area of 0.41 Ha (1.01 Acres)
LOCATION
ACCOMMODATION
The property occupies a prominent location fronting Shakespeare Street, close to Southport town centre.
We have been provided with the Net Internal Area (NIA) of the property as follows:-
The surrounding area is largely residential with Shakespeare Street being the local centre with shops, cafes etc. The street was highlighted recently in a local newspaper as being a “bustling road with real finds and services”. Shakespeare Street is a main bus route, being of mixed use, predominantly retail and business services, as well as being home to the newly constructed Salvation Army Headquarters.
Site area 0.41 ha (1.01 acres).
Shakespeare Street leads to the A570 Eastbank Street which in turn leads to Lord Street and Southport town centre, approximately ½ mile north west of the subject property.
AREA Ground Floor Mezzanine Floor First Floor First Floor Mezzanine Second Floor Second Floor Mezzanine Third Floor Fourth Floor Total
2
M 905.89 97.55 534.75 358.60 415.45 354.80 158.86 464.51 3,290.41
SQ FT 9,751 1,050 5,756 3,860 4,472 3,819 1,710 5,000 35,418
DESCRIPTION TENURE The property comprises a detached four storey office building built originally in the late 1960’s/1970’s of framed construction. Externally, it is phased with brick and benefits from UPVC double glazing. Internally the property is divided on each floor into a multilet office building and finished to the following specification:• • • • • • • •
Painted plastered walls and ceilings/carpeted floors Fluorescent strip lighting Full gas central heating Life access to all floors 24 hour access Intruder alarm CCTV Car park with space for 109 cars
The property is held freehold under 7 individual titles. Further information is available upon request.
LEGAL COSTS Each party to be responsible for their own legal costs incurred in the transaction.
TERMS The intention is to sell the property by way of a Transfer of a Going Concern (TOGC). Further information to include guide price is available upon request.
The property is managed by a full time property manager.
BUSINESS RATES VAT We understand that the property is elected for VAT and therefore VAT will be charged on the transaction.
For more information, visit eddisons.com/property T: 0151 268 5280
A schedule of the rating assessment as entered into the 2017 Rating List is available upon request.
TENANCIES The property is let to 19 individual tenants with a rent passing of £195,109.00 per annum as at 5 February 2018. A service charge, which includes the cost of the full time property manager, is collected from the tenants currently at approximately £75,772.80 per annum, following a 3.5% increase with effect from 1 March 2018. The charge also covers the maintenance and upkeep of common parts as well as heating of the entire building and lighting of common areas. At the present time the entire property is fully occupied. An information pack is available upon request to include the following:• • • • •
Tenancy schedule Land registry entries and associated plans Schedule of outgoings Schedule summarising occupancy levels over the past 7 years Service charge schedule 2010 to 2017
VIEWING & FURTHER INFORMATION Viewing strictly by prior appointment with the sole agent: Eddisons Tel / 0151 268 5280 Mob / 07979 541260 Email / [email protected] REVISED FEBRUARY 2018 SUBJECT TO CONTRACT FILE REF / 791.0002A
For more information, visit eddisons.com/property T: 0151 268 5280
For more information, visit eddisons.com/property T: 0151 268 5280
For more information, visit eddisons.com/property T: 0151 268 5280
