Freehold office investment

55% of income secured against the Government & British

Transport Police

Multi-Let with active management opportunities

Offers in the region of £1,650,000, stc

10.5% net initial yield

Capital value of £969 per sq m / £90 per sq ft

www.singerviellesales.com

file://///PDC1/SingerVielle/Websites/Derby/PDF/www.singerviellesales.com

Doncaster is one of the largest commercial centres in South Yorkshire, located approximately 273 km (170 miles) north of London, 56 km (35 miles) south-east of Leeds

and (35 km) 22 miles north-east of Sheffield.

The town benefits from good road communications being situated approximately 4.0 km (2.5 miles) east of the A1 (M) and 4.8 km (3.0 miles) north of Junction 3 of the

M18 Motorway which in turn link with the wider national motorway network.

Doncaster is connected to the national railway network with a fastest journey time to London King’s Cross of 1 hour 35 minutes. There are also regular direct services

to Leeds, York and Hull. Doncaster Robin Hood Airport is located approximately 10 km (6 miles) to the south east and is the UK’s newest purpose built international

airport handling over 700,000 passengers in 2014 and flights to over 30 destinations. In 2014 work began on the Finningley and Rossington Regeneration Route

Scheme link road, due to open in early 2016, which will see journey times to the airport dramatically improved.

The subject property occupies a strategic town centre position, immediately adjacent to Doncaster railway station. The property is situated on the west side of Trafford

Way (A630), the main ring road around Doncaster town centre.

The Frenchgate Shopping Centre is immediately to the north. The centre, which totals approximately 74,322 sq m (800,000 sq ft) along with 1,400 car parking spaces,

has undergone a £200 million extension and refurbishment. It now welcomes over 17 million shoppers a year and has over 120 stores including Debenhams, Next,

H&M, River Island, New Look, Sainsbury’s and Boots.

Doncaster railway station is situated on the East Coast Main Line and managed by Virgin Trains East Coast. It is a major passenger interchange between the East

Coast Main Line and Cross Country Route and local services running across the North of England.

The subject property comprises eight self-contained office units constructed

in the 1980’s arranged in two terraces. Each unit is self-contained with its own

direct access from Trafford Court and allocated parking.

The accommodation benefits from the following specification:

• Suspended ceilings

• Perimeter trunking

• Double glazing

• Category II lighting

• Carpeting throughout

• Gas fired central heating

• Male & Female WC’s

• Disabled WC facilities

• Part air-conditioned (installed by tenants)

Allocated surface car parking for 44 vehicles is provided.

We have been advised that the property provides the following Gross Internal

Areas:

A set of floor plans is available to download and the measured survey report is

available for assignment to a purchaser.

Units 1&2 (DETR Valuation)

Ground Floor 155.51 sq m 1,674 sq ft

First Floor 124.95 sq m 1,345 sq ft

Second Floor 156.54 sq m 1,685 sq ft

Sub-Total 437.00 sq m 4,704 sq ft

Unit 3 (Wise Ability Limited)

Ground Floor 77.20 sq m 831 sq ft

First Floor 65.77 sq m 708 sq ft

Second Floor 79.80 sq m 859 sq ft

Sub-Total 222.77 sq m 2,398 sq ft

Unit 4 (Taskmaster Resources Ltd)

Ground Floor 73.02 sq m 786 sq ft

First Floor 65.77 sq m 708 sq ft

Second Floor 71.25 sq m 767 sq ft

Sub-Total 210.05 sq m 2,261 sq ft

Units 5&6 (Doncaster CVS)

Ground Floor 129.60 sq m 1,395 sq ft

First Floor 136.93 sq m 1,474 sq ft

Second Floor 143.81 sq m 1,548 sq ft

Sub-Total 410.34 sq m 4,417 sq ft

Units 7&8 (British Transport Police)

Ground Floor 139.16 sq m 1,498 sq ft

First Floor 127.09 sq m 1,368 sq ft

Second Floor 156.26 sq m 1,682 sq ft

Sub-Total 422.51 sq m 4,548 sq ft

TOTAL NIA 1,702.67 sq m 18,328 sq ft

Address Description Rateable Value

Units 1&2 Trafford Court Offices & Premises £50,500

Unit 3 Trafford Court Offices & Premises £25,500

Unit 4 Trafford Court Offices & Premises £22,750

Units 5&6 Trafford Court Offices & Premises £44,500

Units 7&8 Trafford Court Offices & Premises £48,000

According to the Valuation Office website the rateable value for

the property is as follows:

The Uniform Business Rate is 47.1 pence per pound for

2014/2015.

We estimate the site area to be approximately 0.25 hectares (0.62

acres).

A Phase I Environmental Risk Assessment was carried out by

WSP in August 2015 which concluded that the site represents a

low risk with respect to potential contaminated land liability issues.

A copy of the report is available to download.

Freehold

The property is multi-let to five tenants in accordance with the attached tenancy schedule. Over 50% of the income is secured against the Government and the British

Transport Police. A purchaser will benefit from a total current income of £183,374 per annum.

Unit TenantArea

(Sq Ft)

Area

(Sq M)

Car

Spaces

Lease

Start

Lease

End

Break

Clause

Rent

Review

Rent

Per Annum

Effective

Rent Per

Sq M

(car

park ing

at £650

per

space)

Effective

Rent Per

Sq Ft

(car

park ing

at £650

per

space)

Additional

Car

Park ing

Spaces

Total Rent

Payable

( inc.car

park ing

spaces)

Comments

1 & 2The Valuation

Tribunal Service4,704 437.00 5.00 02.04.2015 01.09.2017 £40,426.00 £85.07 £7.90 £40,426.00

5 car parking spaces included in

lease

Lease outside 1954 Act protection.

Service charge capped at £2,220

per annum

3 Wise Ability Limited 2,398 222.77 5.00 12.04.2013 11.04.2016 £17,248 £71.59 £6.65 £1,950 £19,198

Lease subject to Schedule of

Condition

Discussions ongoing with tenant on

possible lease renewal

Lease subject to schedule of

Condition

2 car parking spaces included in

lease, plus 3 additional car parking

spaces @ £650pa per space

Lease outside 1954 Act protection

4Taskmaster

Resources Limited2,261 210.05 14.00 01.09.2014 31.08.2024 01.09.2019 01.09.2019 £22,700 £86.41 £8.03 £4,550 £27,250

Tenant break clause 01.09.2019,

subject to 6 months' written notice.

7 car parking spaces included in

lease, plus 7 additional car parking

spaces totalling £4,550 per space

5&6 Doncaster CVS 4,417 410.34 10.00 05.08.2014 31.03.2016 £40,000 £87.98 £8.17 £40,000

Discussions ongoing with tenant on

possible lease renewal

6 car parking spaces included in

lease plus additional 4 car parking

spaces.

Lease outside 1954 Act protection

7

Strategic Rail

Authority on behalf of

British Transport

Police

2,112 196.20 5.00 20.11.2002 19.11.2017 £26,400 £124.62 £11.58 £1,300 £27,700

3 car parking spaced included in

lease.

2 additional car parking spaces @

£650pa per space

8British Transport

Police Authority2,421 224.91 5.00 28.05.2009 19.11.2017 £27,500 £113.60 £10.55 £1,300 £28,800

3 car parking spaced included in

lease.

2 additional car parking spaces @

£650pa per space

TOTAL 18,313 1,701.27 44.00 £174,274 £183,374

Year Expenditure Total Per sq m Per sq ft

1st March 2012-28th Feb 2013 £9,231.29 £5.42 per sq m £0.50 per sq ft

1st March 2013-31st Mar 2014 £8,152.53 £4.79 per sq m £0.45 per sq ft

1st April 2014-31st Mar 2015 £8,549.38 £5.02 per sq m £0.47 per sq ft

1st April 2015-31st March 2016 £7,800.00 £4.58 per sq £0.43 per sq ft

Copies of the Service Charge Accounts and the Service Charge Budgets are available to download. In brief summary:-

Service Charge Expenditure

Estimated Service Charge

31st December 2013 31st December 2012

Turnover £28,110,370 £24,764,745

Pre-Tax Profits £588,943 £356,574

Shareholders’ Funds £3,570,529 £3,372,184

30th June 2014 30th June 2013

Incoming Resources £3,598,947 £2,791,158

Net Current Assets £737,259 £575,324

Net Liabilities (£878,695) (£927,487)

31st March 2014 31st March 2013

Incoming Resources £349,657 £452,027

Total Resources Expended £467,256 £608,837

Net Assets £459,497 £568,827

Units 1&2

Secretary of State for the Environment – occupied by the Valuation Tribunal.

The Valuation Tribunal deals with appeals about council tax and non-domestic

(business) rates. Appeals arise when the Valuation Office Agency or the council

do not agree with a ratepayer or council taxpayer’s contention and the

taxpayer or ratepayer is not satisfied. The Valuation Tribunal also deals with a

small number of appeals against drainage boards’ assessments of drainage

rates. The Valuation Tribunal is independent of the Valuation Office Agency

(VOA) and the billing authorities (local councils).

The Valuation Tribunal is resourced from public funding (allocated from

Parliament’s Public Spending Review). It is an independent appeals body for

citizens to use freely.

For further information visit www.valuationtribunal.gov.uk.

Unit 3

WISE Ability Limited (Co. No. 06749024) has reported the following figures;

WISE Ability is a not-for-profit organisation which invests surplus funds into

innovative projects and programmes that benefit the most marginalised and

under-supported members of our community.

A UK based charity, the main business activity is delivering quality employment

support, skills development and community development services to members

of the community through a range of initiatives. These initiatives include

mainstream and discretionary contracted provision, the development of social

enterprise and community investment projects. Primary groups include

unemployed jobseekers, long term and generational benefit claimants,

economically inactive individuals with health conditions or disabilities, lone

parents, ex-offenders, individuals from under-represented communities and

specific areas of high deprivation. For further information visit

www.wiseability.co.uk.

WISE Ability was founded by one of Australia’s leading charity employment

services, WISE Employment which has 25 branches across the states of Victoria,

New South Wales, Tasmania and the Northern Territory, providing assistance to

over 32,000 jobseekers a year under the Australian Government’s Disability

Employment Services and Job Services Australia initiatives. For further

information visit www.wiseemployment.com.au.

Unit 4

Taskmaster Resources Limited (Co. No. 03289148) has reported the following

abbreviated accounts;

As a leading independent recruitment organisation, Taskmaster have successfully

competed against the big 5 recruitment agencies to win preferred supplier status

to many blue chip companies, local authorities, universities and the NHS.

Taskmaster have received acclaim as a Sunday Times Top 100 Best Company to

Work for 2015, the fifth time they have achieved this accolade. For further

information visit www.tmrec.com.

Units 5&6

Doncaster CVS (Charity Number 1084795) has reported the following figures:

Doncaster CVS is a local infrastructure organisation, working to ensure that local

community and voluntary sector groups and organisations get the support they

need. Established in 1943 they are able to offer a wide range of practical support

and advice to local third sector organisations.

file:///C:/Users/faye.SINGERVIELLE/Dropbox%20(Singer%20Vielle)/Singer%20Vielle/Websites/Doncaster%202015/pdf/www.valuationtribunal.gov.ukfile:///C:/Users/faye.SINGERVIELLE/Dropbox%20(Singer%20Vielle)/Singer%20Vielle/Websites/Doncaster%202015/pdf/www.wiseemployment.com.aufile:///C:/Users/faye.SINGERVIELLE/Dropbox%20(Singer%20Vielle)/Singer%20Vielle/Websites/Doncaster%202015/pdf/www.tmrec.com

Services include advice on establishing or developing a new or existing group, undertaking enterprising activities to help organisations become more sustainable, training,

networking opportunities, information about local policies, strategies and the opportunity to influence them, financial services including year-end accounts and payroll

services, HR support, training and support with fundraising, health & wellbeing, volunteering services, room hire, equipment hire and administrative services. For further

information visit www.doncastercvs.org.uk.

Units 7&8

Occupied by the British Transport Police who police Britain’s railways, providing a service to rail operators, their staff and passengers across the country. The British

Transport Police are funded by the train operating companies. The British Transport Police Authority (BTPA) negotiates payments from these companies and sets the

budgets. The BTPA ensure train operators, their staff and passengers get the best value from British Transport Police. The agreed net budget for 2014/15 is £257.877

million. For further information visit www.btp.police.uk.

The property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

file:///C:/Users/faye.SINGERVIELLE/Dropbox%20(Singer%20Vielle)/Singer%20Vielle/Websites/Doncaster%202015/pdf/www.doncastercvs.org.ukfile:///C:/Users/faye.SINGERVIELLE/Dropbox%20(Singer%20Vielle)/Singer%20Vielle/Websites/Doncaster%202015/pdf/www.btp.police.uk

1. An opportunity to acquire a freehold high yielding office investment;

2. The property is situated in a strategic town centre location, adjacent to Doncaster railway station;

3. Over 50% of the income is secured against the Government and the British Transport Police;

4. The investment provides active management opportunities, including a potential break-up of the

property on a unit-by-unit or block-by-block basis;

5. The property may lend itself to future potential change of use to residential, subject to obtaining

the necessary planning consents;

6. A purchase at the asking price reflects an attractive net initial yield;

The investment provides a purchaser with an attractive lot size.

SUBJECT TO CONTRACT & EXCLUSIVE OF VAT

Misrepresentation Act 1967 Singer Vielle 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 or lessees, 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 given in 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 must satisfy themselves by inspection or otherwise as to the correctness of each of them. 3. No person in the employment of Singer Vielle has any authority to make or give any representation or warranty whatever in relation to this property. 4. All maps are for identification purposes only and should not be relied upon for accuracy. 5. Unless otherwise stated, all prices and rentals quoted are exclusive of Value Added Tax to which they may be subject. Finance Act 1989 Unless otherwise stated, all prices and rents are quoted exclusive of VAT. Property Misdescriptions Act 1991 These details are believed to be correct at the time of compilation, but may be subject to subsequent amendment. Concerning the Properties listed and/or appearing on the Site: 1. Under no circumstances shall we be liable to you for any direct, indirect, consequential, incidental or special damages arising out of your purchase or lease of any Properties on the Site. 2. Under no circumstances shall we be liable for any errors or incompleteness of the information relating to any Property listed on this Site or if any Property has been withdrawn from sale or lease nor shall we be responsible for any inaccurate dimensions of any Properties or price listed. 3. Our website service permits you to enquire about and to purchase or lease Properties appearing on or listed on this Site. Such enquiries, purchase or leasing can only be made and permitted strictly subject to the terms and conditions set out below. 4. We do not accept responsibility or liability for the completeness or accuracy of information appearing on this Site which is provided by the Vendors or Lessors of the Property concerned who are solely responsible for such information. 5. Whilst we believe that the Properties listed are available for purchase or lease we make no guarantee that this is the case or that they have not been withdrawn by the Vendor or Lessor of the same. All Properties appearing or listed on the Site are subject to changes, errors or omissions. We have not verified the accuracy of the information relating to the Properties or any dimensions which have been given by the Vendors or Lessors. 6. All Properties are listed subject to contract and the prices shown are exclusive of VAT if applicable.

Our client is seeking offers in the region of

£1,650,000 (One Million, Six Hundred and Fifty

Thousand Pounds), subject to contract,

reflecting a net initial yield of 10.5% and a capital

value of £969 per sq m (£90 per sq ft).

Parties have the flexibility of submitting

unconditional offers to treat, or offers with

completion conditional upon finance or survey.

Parties can also submit an offer with their

chosen completion date.

Singer Vielle Street Vendors Solicitor

94-96 Wigmore Street Freeths LLP

London W1U 3RF Cardinal Square, 2nd Floor, West Point,

Tel: +44 (0) 207 935 7200 10 Nottingham Road, Derby DE1 3QT

Neil Singer neil@singervielle.co.uk Tel: 0845 272 5681

Dale Henry dale@singervielle.co.uk Sam Shepherd sam.shepherd@freeths.co.uk

Richard Wolfryd richard@singervielle.co.uk

mailto:neil@singervielle.co.ukmailto:dale@singervielle.co.ukmailto:sam.shepherd@freeths.co.ukmailto:richard@singervielle.co.uk