Business Space Investment

South East Business Space Investment Opportunity

37 Mark Road, Hemel Hempstead, HP2 7DN

Investment Considerations ■ Modern south east business space investment opportunity

■ Excellent situation being in close proximity to the town centre and junction 8 of the M1

■ Let to excellent covenants of Citysprint (UK) Ltd and ADT Fire & Security Plc

■ A new letting off a low base rent of £6.82 per sq ft to Citysprint

■ Opportunity to re-gear the ADT lease

■ Offers in excess of £550,000 (Five Hundred and Fifty Thousand Pounds)

■ Attractive net initial yield of 21.78%

■ Low capital value of £43.17 per sq ft

37 Mark Road, Hemel Hempstead, HP2 7DN

LocationHemel Hempstead is located in the county of Hertfordshire, approximately 25 miles (40 km) northwest of London, 11 miles (17 km) north of Watford and 9 miles (14 km) south of Luton. The town benefits from excellent road communications being situated approximately 1 mile (1.6 km) to the west of the M1 motorway (junction 8), accessed via the A414 (Breakspear Way), and the M25 motorway (junction 20), which is located approximately 3 miles (4.8 km) to the south east, accessed via the A41.

The town is well connected to the national railway network with a fastest journey time of approximately 25 minutes to London Euston. Hemel Hempstead is well served by several major airports being approximately 25 miles (42 km) from Heathrow airport, 8.5 miles (14 km) from Luton airport and 29 miles (46 km) from Stansted airport. Heathrow

Gatwick

StanstedLuton

J27J25J23

J21

J20

J19

J16

J15

J12

J10

J7J8

J9

J6

J5

J3

J2

J29

J28

A127

A5

A505A418

A418 A602

A120A120

A131

A131A130

A130

A138

A130

A130

A130

A229

A229

A217A243

A217

A232

A331

A322

A316

A309

A232

A264

A264

A229

A229

A120 A120

A404

A355

A404

A413

A4010

A4010

A414

A414 A414

A414 A414

A5

A5

A1

A2

A2

A3

A3

A3

A3

A3

A3

A3

A2

A2

A41

A41

A41

A40

A40

A31

A31

A24

A24

A24

A24

A24

A24

A24

A23

A23A22

A21

A20

A20

A13

A12A10

A10

A10

A10

A10

A12

A12

A12

A12

A12

A12

A13

A13

A13

A21

A26

A26

A26

A26

A26

A21

A21

A21

A21

A22

A22

A22

A22

A22

A23

A23

M1

M1

M4 M4M4

M4

M3M2

M2

M3

M3

M1

M1

M25

M25

M10

M25

M40

M40

M40

M25

M25

M25

M25

M25

M23

M23

M23

M25

M26

M25 M20

M20

M20

M25

M25

M25

M25M11

M11

M11

M11

M11

M25M25

A1(M)

A1(M)

A1(M)

A1(M)

M1

M1

Harlow

Bishop’sStortford

Epping

Chigwell

Potters Bar

Knebworth

Hertford

Luton

Aylesbury

DunstableStevenage

LONDON

Hatfield

Dartford

Bromley

Gravesend

Gillingham

Shoreham

Rochester

Sittingbourne

Croydon

Biggin Hill

Romford

Sevenoaks

Tonbridge

RoyalTunbridge

Wells

Maidstone

Snodland

Sheerness

StaplehurstPaddock

Wood

East GrinsteadCrawley Three Bridges

Horley

Horsham

NorthHorsham

HaywardsHeath

Burgess Hill

Redhill

Oxted

DorkingGuildford Reigate

Staines

Slough

HEMELHEMPSTEAD

St Albans

HighWycombe

Watford

WembelyUxbridge

RuislipHarrow Brent

CrossHolloway

StamfordHill Walthamstow

Stratford

SouthOxney

Rickmansworth

Harefield

Borehamwood

North Finchley

EnfieldBarnet

Windsor

WokingEpsom

Chessington

Tolworth

Sutton

Clapham

Swanley

Fulham

Weybridge

Ashford

RichmondHounslow

KingstonUpon Thames

BillericayWickford

Stanford-le-HopeSouthend-on-SeaBenfleet

CanveyIsland

Brentwood

Chelmsford

ChippingOngar

Basildon

Welwyn GardenCity

J7

J8

High S

treetG

reen

LeverstockGreen Road

Wood Lane E

nd Wood Lane End

Mark Road

Mark Road

Cleveland Rd

Swallowdale Lane

Trees Lane

Bound

ary Way

Buncefield Lane

Green Lane

Three Cherry

B487

B487

Q

ueen

sway

Leverstock Gre

en W

ay

A4147 Mayland

s Aven

ue

A4147

A4147 R

edbourn R

oad

A4147 Link Road

A414A

414

A414 Breakspear Way

A414 St.A

lbans Road

A414 St.Albans Road

M1

M1

MaylandsWood

MARK ROAD

AVEBURY COURT

El Sub Sta

Hemel HempsteadIndustrial Estate

5

1

17

Mark House

39

12

38

Forsyth House

0m 10m 20m 30m

Ordnance Survey © Crown Copyright 2013. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250

© Crown Copyright, ES 100004106. For identification purposes only.

DescriptionThe property comprises 2 detached buildings arranged over ground and first floors.

Unit A & B are of the same specification with the ground floor suitable for workshop / assembly /storage space or further offices and the first floor being fitted out as office accommodation. The first floor of Unit A has been recently refurbished to include air conditioning cassettes to first floor.

Unit A benefits from 20 car parking spaces giving a ratio of (1:258). Unit B benefits from 38 car parking spaces giving a ratio of (1:199).

All the accommodation benefits from the following specification:-

• Loading door (height 2.86m, width 2.86m)• Central heating• Open plan office accommodation• WC’s on both floors

VATThe property is not elected for VAT therefore VAT will not be payable on the purchase price.

TenureFreehold

Business RatesWe understand the rateable value and rates payable are as follows assuming the current poundage multiplier of 0.462.

Rateable Value Rates Payable

Unit A £67,500 £31,182

Unit B £64,000 £29,568

SituationThe property is located in the principal business district of Hemel Hempstead being 2 miles east of the town centre and 3 miles east of Hemel Hempstead rail station. The property is strategically situated on the western edge of Hemel Hempstead Industrial estate, only 1.3 miles west of Junction 8 of the M1. Mark Road, adjacent to Maylands Avenue, has a mixture of office and light industrial accommodation, and is separated from the residential accommodation to the west and north by Widmore Wood and Maylands Wood.

The Maylands Avenue Business District comprises a range of developments, with high profile occupiers including Royal Mail, BSI, and Amazon. The Campus, located within this Business District, is to the north west of the property, with occupiers including Steria Ltd and Fenton Packaging. Other developments and occupiers include DSG Retail office headquarters, The People Building, which is part let to ASOS.com, and Breakspear Park, where tenants include BP and Regus.

Dacorum Borough Council has adopted the Maylands Master Plan, which seeks to ‘unlock the potential that Maylands has to become the leading location for business in the East of England and beyond’.

Unit Tenant Floor NIA(Sq M)

NIA(Sq Ft)

Lease Start

Lease Expiry

Break Rent (£psf)

Comments

A Citysprint (UK) Limited

GroundFirst

Sub Total

231.89247.96479.85

2,496 2,669 5,165

17/01/2014 16/01/2019 16/01/2018 £35,250 (£6.82)

3 months rent free granted as 50% rent over first 6 months. Vendor to top up. Schedule of condition

B ADT Fire & Security Plc

GroundFirst

Sub Total

350.22353.59703.81

3,769 3,806 7,575

25/03/1988 24/03/2013 £91,500 (£12.07)

Holding over

Total 1,183.66 12,740 £126,750

Tenancy Schedule

Covenant InformationCitysprint (UK) Limited (04327611)

31/12/2010 31/12/2011 31/12/2012

Turnover £61,065,419 £74,307,554 £101,106,299

Pre Tax Profit £3,866,488 £3,861,861 £5,059,384

Total Net Worth £7,467,450 £3,175,406 £9,209,953

ADT Fire & Security Plc (01161045)

24/09/2010 30/09/2011 28/09/2012

Turnover £362,452,000 £363,384,000 £360,532,000

Pre Tax Profit £1,847,000 £17,972,000 £31,738,000

Total Net Worth £429,056,000 £442,023,000 £470,021,000

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. 01.14

For further information or to make arrangements for viewing please contact:

James Lawson020 7543 6825james.lawson@allsop.co.uk

Guy Scott Plummer020 7543 6726guy.scott-plummer@allsop.co.uk www.allsop.co.uk

37 Mark Road, Hemel Hempstead, HP2 7DN

Proposal Our clients are seeking offers in excess of £550,000 (Five Hundred and Fifty Thousand Pounds), a purchase at this level will show a net initial yield of 21.78% assuming usual purchasers costs of 5.8% and a low capital value of £43.17 per sq ft.

EPC