Unit 4 Triangle Court, Cheshire Business Park, Northwich ... - Realla
Unit 4 Triangle Court, Cheshire Business Park, Northwich, Cheshire, CW9 7YL
Investment summary
Opportunity to acquire a new 5,091 sq ft (472.97 sq m) high specification office building, including 21 car parking spaces.
Cheshire Business Park is situated within 3 miles of Junction 19 of the M6 motorway.
Let in its entirety to Payzone UK Limited on a new 10 year lease from 25 August 2016. The lease is subject to a tenant’s break option in year 5.
Current passing rent of £87,500 per annum, reflecting £17.19 per sq ft. The lease is subject to an upwards only rent review in year 5.
Payzone UK Limited has a Dun & Bradstreet rating of 3A 1, representing a minimum risk of business failure.
Freehold.
Offers are sought in excess of £975,000, subject to contract and exclusive of VAT. A purchase at this price reflects a low capital value of £192 psf and an attractive net initial yield of 8.49%, assuming purchasers costs of 5.72%.
Location and situation
Cheshire Business Park benefits from both its rural Cheshire setting and its excellent regional transport infrastructure nearby. The property is situated adjacent to the A556 (Manchester to Chester dual carriageway) giving access to Junction 19 of the M6 motorway within 5 minutes’ drive. Chester, Liverpool and Manchester are within 30 minutes’ drive time via the M56 and M60 motorways. Manchester International Airport is within 15 minutes’ drive time via the M56 and John Lennon Airport at Liverpool is in 30 minutes’ drive time. The Park provides an unrivalled business environment which already benefits from:
Travelodge hotel with associated car parking Public house with all day food and refreshments Co-op convenience store Subway fast food restaurant
Specification Unit 4 benefits from the following specification:
Two storey brick and glazed elevations; Mono pitched roof; Clear and uninterrupted floor plate; Raised access floors; Comfort cooled; On-site CCTV security; 21 car parking spaces, providing an excellent ratio of 1:242 sq ft.
Accommodation The property has been measured in accordance with the RICS Code of Measuring Practice on a Net Internal Area basis and extends to 5,091 sq ft (472.97 sq m) arranged over ground and first floor.
Tenancy The property is let in its entirety to Payzone UK Limited for a term of 10 years from 25 August 2016 on a full repairing and insuring basis. The tenant has the benefit of an option to determine on the fifth anniversary of lease commencement, subject to six months written notice. The current passing rent is £87,500 per annum, reflecting £17.19 per sq ft. There is an upwards only review on the fifth anniversary of lease commencement to open market rental value. The lease is guaranteed by Alphyra Payment Services Limited.
Tenure The property is held freehold.
Covenant Information Payzone is primarily engaged in the acceptance of cash payments for the services of its partners through its retailer network. Their main services include mobile phone top-up, international calling cards, bus ticket purchase, utility and general bill payment and pre-paid cards.
Further information can be found at http://www.payzone.co.uk/Retailers D&B Rating:
3A 1
Risk of business failure:
Minimum risk of business failure.
Maximum credit rating:
£607,500
Their financial position can be summarised as follows: Fiscal Consolidated 30 Sep 2015
Fiscal Consolidated 30 Sep 2014
Fiscal Consolidated 30 Sep 2013
Sales Turnover
£16,365,276
£22,119,873
£23,031,579
Profit / (Loss) Before Taxes
£24,676,229
£940,466
(£1,071,216)
Tangible Net Worth
£13,187,077
(£11,489,152)
(£12,429,618)
Net Current Assets (Liabilities)
£9,243,930
(£14,512,970)
(£14,992,378)
The lease is guaranteed Alphyra Payment Services Limited, who provide cash collection services and management of trust accounts. The company was incorporated in 2001 and is based in Northwich.
D&B Rating:
3A 1
Risk of business failure:
Minimum risk of business failure.
Maximum credit rating:
£405,000
Their financial position can be summarised as follows: Fiscal Consolidated 30 Sep 2015
Fiscal Consolidated 30 Sep 2014
Fiscal Consolidated 30 Sep 2013
£1,184,031
£1,435,462
£1,736,378
£802,739
£955,509
£1,480,493
Tangible Net Worth
£10,751,181
£9,948,442
£8,992,933
Net Current Assets (Liabilities)
£10,751,181
£9,948,442
£8,992,933
Sales Turnover Profit / (Loss) Before Taxes
VAT We understand the property has been elected for VAT. It is anticipated that the sale will be structured as a Transfer of a Going Concern (TOGC) and as such VAT will not be payable.
EPC An Energy Performance Certificate is available upon request.
Proposal Offers are sought in excess of £975,000 (Nine Hundred and Seventy Five Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this price reflects a low capital value of £192 psf and an attractive net initial yield of 8.49%, assuming purchasers costs of 5.72%.
Further information For further information or to arrange a viewing, please contact: Mike Pochin
Tom Dawson
Steve Carrick
[email protected]
[email protected]
[email protected]
T: 0161 833 7692
T: 0161 833 7717
T: 0161 833 7690
M: 07469 666 318
M: 07468 727 122
M: 07711 042 584
Important notice 1. Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Knight Frank LLP in the particulars or by word of mouth or in writing ("information") as being factually accurate about the property, its condition or its value. Neither Knight Frank LLP nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. None of the services or appliances have been tested and no warranty is given or is to be implied that they are in working order. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 4. VAT: The VAT position relating to the property may change without notice. Knight Frank LLP is a limited liability partnership registered in England with registered number OC305934. Our registered offices 55 Baker Street, London, W1U 8AN, where you may look at a list of members' names.
Investment summary
Opportunity to acquire a new 5,091 sq ft (472.97 sq m) high specification office building, including 21 car parking spaces.
Cheshire Business Park is situated within 3 miles of Junction 19 of the M6 motorway.
Let in its entirety to Payzone UK Limited on a new 10 year lease from 25 August 2016. The lease is subject to a tenant’s break option in year 5.
Current passing rent of £87,500 per annum, reflecting £17.19 per sq ft. The lease is subject to an upwards only rent review in year 5.
Payzone UK Limited has a Dun & Bradstreet rating of 3A 1, representing a minimum risk of business failure.
Freehold.
Offers are sought in excess of £975,000, subject to contract and exclusive of VAT. A purchase at this price reflects a low capital value of £192 psf and an attractive net initial yield of 8.49%, assuming purchasers costs of 5.72%.
Location and situation
Cheshire Business Park benefits from both its rural Cheshire setting and its excellent regional transport infrastructure nearby. The property is situated adjacent to the A556 (Manchester to Chester dual carriageway) giving access to Junction 19 of the M6 motorway within 5 minutes’ drive. Chester, Liverpool and Manchester are within 30 minutes’ drive time via the M56 and M60 motorways. Manchester International Airport is within 15 minutes’ drive time via the M56 and John Lennon Airport at Liverpool is in 30 minutes’ drive time. The Park provides an unrivalled business environment which already benefits from:
Travelodge hotel with associated car parking Public house with all day food and refreshments Co-op convenience store Subway fast food restaurant
Specification Unit 4 benefits from the following specification:
Two storey brick and glazed elevations; Mono pitched roof; Clear and uninterrupted floor plate; Raised access floors; Comfort cooled; On-site CCTV security; 21 car parking spaces, providing an excellent ratio of 1:242 sq ft.
Accommodation The property has been measured in accordance with the RICS Code of Measuring Practice on a Net Internal Area basis and extends to 5,091 sq ft (472.97 sq m) arranged over ground and first floor.
Tenancy The property is let in its entirety to Payzone UK Limited for a term of 10 years from 25 August 2016 on a full repairing and insuring basis. The tenant has the benefit of an option to determine on the fifth anniversary of lease commencement, subject to six months written notice. The current passing rent is £87,500 per annum, reflecting £17.19 per sq ft. There is an upwards only review on the fifth anniversary of lease commencement to open market rental value. The lease is guaranteed by Alphyra Payment Services Limited.
Tenure The property is held freehold.
Covenant Information Payzone is primarily engaged in the acceptance of cash payments for the services of its partners through its retailer network. Their main services include mobile phone top-up, international calling cards, bus ticket purchase, utility and general bill payment and pre-paid cards.
Further information can be found at http://www.payzone.co.uk/Retailers D&B Rating:
3A 1
Risk of business failure:
Minimum risk of business failure.
Maximum credit rating:
£607,500
Their financial position can be summarised as follows: Fiscal Consolidated 30 Sep 2015
Fiscal Consolidated 30 Sep 2014
Fiscal Consolidated 30 Sep 2013
Sales Turnover
£16,365,276
£22,119,873
£23,031,579
Profit / (Loss) Before Taxes
£24,676,229
£940,466
(£1,071,216)
Tangible Net Worth
£13,187,077
(£11,489,152)
(£12,429,618)
Net Current Assets (Liabilities)
£9,243,930
(£14,512,970)
(£14,992,378)
The lease is guaranteed Alphyra Payment Services Limited, who provide cash collection services and management of trust accounts. The company was incorporated in 2001 and is based in Northwich.
D&B Rating:
3A 1
Risk of business failure:
Minimum risk of business failure.
Maximum credit rating:
£405,000
Their financial position can be summarised as follows: Fiscal Consolidated 30 Sep 2015
Fiscal Consolidated 30 Sep 2014
Fiscal Consolidated 30 Sep 2013
£1,184,031
£1,435,462
£1,736,378
£802,739
£955,509
£1,480,493
Tangible Net Worth
£10,751,181
£9,948,442
£8,992,933
Net Current Assets (Liabilities)
£10,751,181
£9,948,442
£8,992,933
Sales Turnover Profit / (Loss) Before Taxes
VAT We understand the property has been elected for VAT. It is anticipated that the sale will be structured as a Transfer of a Going Concern (TOGC) and as such VAT will not be payable.
EPC An Energy Performance Certificate is available upon request.
Proposal Offers are sought in excess of £975,000 (Nine Hundred and Seventy Five Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this price reflects a low capital value of £192 psf and an attractive net initial yield of 8.49%, assuming purchasers costs of 5.72%.
Further information For further information or to arrange a viewing, please contact: Mike Pochin
Tom Dawson
Steve Carrick
[email protected]
[email protected]
[email protected]
T: 0161 833 7692
T: 0161 833 7717
T: 0161 833 7690
M: 07469 666 318
M: 07468 727 122
M: 07711 042 584
Important notice 1. Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Knight Frank LLP in the particulars or by word of mouth or in writing ("information") as being factually accurate about the property, its condition or its value. Neither Knight Frank LLP nor any joint agent has any authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. 3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. None of the services or appliances have been tested and no warranty is given or is to be implied that they are in working order. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. 4. VAT: The VAT position relating to the property may change without notice. Knight Frank LLP is a limited liability partnership registered in England with registered number OC305934. Our registered offices 55 Baker Street, London, W1U 8AN, where you may look at a list of members' names.
