ASHLEY BUSINESS COURT · Rotherham is a large town in South Yorkshire with a population of 257,280. It is approximately 5 miles north-east of Sheffield and 11.5 miles to the south-west

FREEHOLD MULTI-LET OFFICE & INDUSTRIAL INVESTMENT OPPORTUNITY

ASHLEY BUSINESS COURT |RAWMARSH ROAD, ROTHERHAM, S60 1RU

INVESTMENT SUMMARY

Prominently located to the north of Rotherham Town Centre

Total passing income of £348,850 per annum with the opportunity to enhance this through lettings of vacant space.

Purpose built offices and warehouse space totalling 54,854 sq. ft. in a traditional courtyard style with excellent parking provision, offering over 3 spaces per 1,000 sq. ft.

Offers in excess of £3,250,000 showing a net initial yield of 10.07%

Multi‐let to nine tenants including Underwood Meat Company Ltd, Wilmott Partnership Homes Ltd and Secretary of State for Communities and Local Government.

Low capital value of £59.25 per sq. ft.

LOCATION

Rotherham is a large town in South Yorkshire with a population of 257,280. It is approximately 5 miles north-east of Sheffield and 11.5 miles to the south-west of Doncaster. Rotherham is located 19 miles from Robin Hood International Airport and London is just 2 hours and 20 minutes by train.

The subject property provides excellent access to the M1, A1 and M18 motorways as well as being situated just 0.35 miles from Rotherham Central Railway Station.

Meadowhall Railway Station is just 8 minutes drive from the subject property.

SITUATION

Ashley Business Court occupies a site of approximately 2.4 acres and is positioned prominently fronting onto Rawmarsh Road, with good access to Rotherham Town Centre and is easily accessed by car via the A630.

Rawmarsh Road and Rotherham Road are home to a wide variety of commercial and industrial uses, including Soak Bathrooms and a number of storage and distribution facilities.

Within a 3 mile radius of the subject property there are over 54,000 households and a population of around 129,500, projected to grow to 133,000 by 2022.


DESCRIPTION

Ashley Business Court is an established development of three separate terraces , two blocks of which are self-contained office space and the third block comprising four industrial units incorporating ancillary office accommodation. The three terraces total 54,854 sq. ft. The development provides generous onsite car parking which totals 181 spaces, all within a pleasantly landscaped environment.

ASHLEY BUSINESS COURT | RAWMARSH ROAD, ROTHERHAM, S60 1RU

OFFICE SPECIFICATION

Double glazed windows

Carpeted flooring

Gas fired central heating

Suspended ceilings

WAREHOUSE SPECIFICATION

Electric roller shutter doors

Good quality two-storey offices

Steel framed construction

Translucent roof lights

UNITS 1-5

Units 1-5 Ashley Business Court comprise a building providing approximately 23,311 sq. ft. of office accommodation arranged over two floors.

Internally, the suites benefit from good specifications which include suspended ceilings, gas central heating and male and female WCs in each suite.

ASHLEY BUSINESS COURT | RAWMARSH ROAD, ROTHERHAM, S60 1RU

UNITS 6-14

Units 6-14 provide high quality, modern office accommodation arranged over three floors. Each suite benefits from suspended ceilings and gas fired central heating as well as male and female W/C’s.

This block provides approximately 17,706 sq. ft. of office accommodation. Shared staircases lead to each unit and a door entry system is provided for visitors.


UNITS 15-18

This block provides four industrial warehouse units arranged in a terrace, each with good quality offices on two levels to the front of the units, which represent an office content of 36%. Each unit benefits from roller shutter door access to the rear elevation.

All of the units are occupied by Underwood Meat Company Limited on four separate Leases, each expiring in August 2025.

This block provides approximately 13,837 sq ft of accommodation.


Unit Tenant Lease Period Break Option Next Review Date Area (sq. ft.) Rent (pa) Rent (sq. ft.) Comments

Unit 1 Sense The National Deaf Blind and Rubella Association

02/07/2012 to 01/07/2027 02/07/2022 02/07/2022 4,575 £33,642 £7.35

Unit 2&3 Secretary of State for Communities and Local Government

02/12/2011 to 24/12/2021 - - 9,368 £61,763 £6.59


01/07/2019 to 30/06/2027 01/072022 01/07/2022 4,684 £32,000 £6.83 3 months rent free and a further three months if the break clause is not exercised. Schedule of Condition.

Unit 5 Mears Care Limited 24/08/2016 to 23/08/2021 24/08/2019 24/08/2019 4,684 £35,130 £7.50

Unit 6 Provident Financial Management Services Ltd 27/11/2006 to 26/11/2018 - - 2,120 £21,200 £10.00 Terms agreed to extend for 5 years with a 3 year break and 2 months rent free at the current rent.

CarParking

Provident Financial Management Services Ltd 27/11/2006 to 26/11/2018 - - 6 spaces £4,500 £750 per space

Holding over


19/08/2015 to 01/07/2027 02/07/2022 02/07/2022 2,194 £15,538 £7.08

Unit 8 & 11 Kinetic Recruitment Services Ltd 29/09/2010 to 29/09/2020 - - 3,456 £17,325 £5.00

Unit 9 Vacant - - - 2,046 - -

Unit 10 Vacant - - - 2,046 - -

Unit 12 Willmott Partnership Homes Ltd 09/05/2016 to 08/05/2022 - - 2,150 £17,172 £7.99 Schedule of Condition

Unit 13 Forefront Scaffold Solutions Ltd 15/04/2016 to 14/04/2019 - - 2,120 £14,999 £7.08 Holding over.

Unit 14 MAS Staffing Ltd 08/03/2019 to 07/03/2022 - - 1,565 £7,825 £5.00

Unit 15 Underwood Meat Company Ltd 16/08/2000 to 15/08/2025 - 16/08/2021 5,169 £30,356 £5.87



Unit 18 Underwood Meat Company Ltd 04/04/2016 to 15/08/2025 - 16/08/2021 3,304 £23,000 £6.96 Schedule of Condition

Totals 54,854 £348,850


COVENANTS

Creditsafe reports can be supplied to interested parties and are summarised as follows:

Tenant Turnover Pre-taxProfit

Shareholders Funds Website Business Type

Sense The NationalDeafblind and

Rubella Association

In excess of £60m - Charity www.sense.org.uk Charity established in

1955

Secretary of State for Communities

and LocalGovernment

- - Government Government

Provident Financial Management Services Ltd

£143,200,000 £7,800,000 £193,000,000 www.providentfinancial.com Personal credit established in 1880

Kinetic RecruitmentServices Ltd £19,830,630 -£86,871 £7,366,929 www.kinetic-plc.co.uk Recruitment

Willmott PartnershipHomes Ltd £3,319,105 -£7,713,100 -£16,421,296 www.willmottdixon.co.uk

Contract Housing Ultimate Parent Wilmott Dixon

Forefront Scaffold Solutions Ltd - - £2,074 www.forefrontscaffoldsolutions.co.uk Construction

MAS Staffing Ltd - - £60,002 masstaffing.co.uk Recruitment

Underwood Meat Company Ltd £74,083,644 £1,330,628 £5,308,410 www.underwoodmeat.co.uk Catering Butchers


64%9%

27%

INCOME LENGTH TO EXPIRYMore than 5 years 3 to 5 yearsLess than 3 years


TENANCIES

A fully recoverable service charge regime is in place for the development with a budget for the year ending 31/10/2019 of £36,900, equating to approximately £0.67 psf, and covers the following;

Management fees Maintenance checks

Health and Safety External repairs and maintenance

Water testing CCTV maintenance

Window cleaning Internal repairs

Refuse removal External lighting

Cleaning Internal lighting

Car Park Monitoring Signage

Landscaping Gritting


EPC’sEnergy performance certificates are available for all units on request. EPCs range between C59 and D99

VATThe property is elected for VAT and it is proposed that the sale be treated as a Transfer of a Going Concern.

INVESTMENT PROPOSALWe are seeking offers in excess of £3,250,000 exclusive of VAT for the Freehold Interest which reflects a net initial yield of 10.07% after purchasers costs. This pricing reflects a capital value of £59.25 per sq ft.

LEGAL COSTSEach party to the transaction will be responsible for their own legal costs incurred.

TENUREThe property is held freehold.

FURTHER INFORMATION / VIEWING

For further information or viewing please contact the sole agent:

Matthew Edwards MRICSRyden LLPT: 0113 386 8823E: [email protected]

Maisie ScrutonRyden LLPT: 0113 386 8816E: [email protected]

Ryden for themselves and for the vendors or lessors of this property whose agents they are give notice that: (1) the particulars are set out as a general outline only for the guidance of intending purchasers orlessees, and do not constitute, nor constitute part of, an offer or contract; (2) all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are givenin good faith and are believed to be correct, but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as tothe correctness of each of them; (3) no person in the employment of Ryden has any authority to make or give representation or warranty whatever in relation to this property. September 2019.

Documents

ASHLEY BUSINESS COURT · Rotherham is a large town in South Yorkshire with a population of 257,280. It is approximately 5 miles north-east of Sheffield and 11.5 miles to the south-west