INVESTMENT OPPORTUNITY

Horizon Business VillageBrooklands Road, Weybridge, KT13 0TJ

Suburban London OfficeInvestment Opportunity

• Offers are sought in excess of £6,343,000 (Six Million Three Hundred and Forty-ThreeThousand Pounds) reflecting a net initial yieldof 6.20%, rising to 10.00% upon letting thevacant space, having allowed for purchaser’scosts of 5.80%.

Proposal

• Horizon Business Village is situated in the highlyaffluent suburban London office location ofWeybridge

• Modern 2004 build office investment

• 27,455 sq ft (2,551 sq m) of Grade A office accommodation distributed across 8 self-contained units

• Excellent asset management opportunitiesthrough immediate leasing of vacant space

• Sought after location situated 3 miles fromJunction 10 of the M25

• 102 car parking spaces providing an excellentratio of 1:269 sq ft.

• Multi-let to four established tenants with aWAULT of 11.33 years to expiries and 3.94 yearsto breaks

• Low passing rent of £415,330 pa equating to£22.12 psf

• Future growth potential to the open marketrental value of £26.00 psf

• Freehold

Description Tenure & Tenancy

INVESTMENT SUMMARY

LocationWeybridge is an established suburban London office

location. The area is now one of the principal office

centres in the Thames Valley and has attracted a large

number of international and national corporations,

including Proctor & Gamble, Sony, Gallaher and

LG Electronics.

The area is extremely affluent and is a highly sought

after location for both commercial and residential use.

36.64% of the population are regarded as “Symbols of

Success”, compared to the national average of 9.70%

(Mosaic UK). There are a total of 9,231 households in

the Weybridge area and 70.3% of these are privately

owned, which is above the national average of 64%

for owner occupied houses (Office for National

Statistics).

SituationHorizon Business Village is located under 3 miles

south of Weybridge town centre and is adjacent to

the renowned St George’s Hill Golf Club, which

provides leisure and restaurant facilities to the affluent

members.

The Brooklands development, which is one of the

world’s first motorsports racetracks and one of

Britain’s earliest airfields, lies directly north of the

subject property. This also includes Brooklands Retail

Park, which provides a Marks & Spencer and a 24 hour

Tesco. The Heights Business Park campus is also close

by, which is a prestigious riverside commercial

business park that offers five new office buildings built

to a high specification.

CommunicationWeybridge benefits from excellent access to the M25

motorway via Junctions 10 and 11, approximately

3 and 4.5 miles away respectively. There is also direct

access to Central London via the A3. Weybridge train

station is situated to the north of the subject property,

providing regular train services to London Waterloo,

with a fastest journey time of 29 minutes. Heathrow is

situated 12 miles directly north and Gatwick 30 miles

south-east, providing good connectivity to the UK’s

principal airports. M25

BURWOOD ROAD

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B385

B374

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A245 (BYFLEET ROAD)

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Junction 11

MERCEDESBENZ WORLD

VELOCITY

THE HEIGHTS

TESCOEXTRA

MARKS & SPENCER

ST GEORGE’SHILL GOLF

CLUB

PYRFORD GOLF COURSE

M3

M4

M25

M20

M26

M25

M40

A40

M2

M25

A228

A10A41

A40

A312

A308

A102

A2

A20

A13

A12

A232

A22

A217A243

A24

A31

A331

A322

A33

A339

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WEYBRIDGEWEYBRIDGE

MAIDENHEADMAIDENHEAD

BRACKNELLBRACKNELL

SLOUGHSLOUGH

GUILDFORDGUILDFORD

KINGSTON-UPON-THAMES

KINGSTON-UPON-THAMES

STAINES-UPON-THAMES

STAINES-UPON-THAMES

UXBRIDGEUXBRIDGE

RICHMONDRICHMOND

HAMMERSMITHHAMMERSMITH

READINGREADING

LOCATION

Horizon BusinessVillage

Walton-on-Thames

Station

Weybridge

Station

Byfleet &

New Haw

Station

DESCRIPTION

The property was constructed in 2004 and

comprises 16 self-contained office buildings.

8 of these units total approximately 27,455 sq ft

(2,551 sq m) and are set out over three levels.

Each unit benefits from a private entrance and are

arranged around an attractive landscaped central

courtyard and water feature.

The buildings are modern purpose-built,

self-contained office accommodation, with

individual units ranging in size from 2,241 sq ft to

4,922 sq ft. 102 car parking spaces are allocated

between the 8 units providing an excellent car

parking ratio of 1:269 sq ft.

The internal specification includes the following

features:

• Air conditioning

• Raised access floors

• Suspended ceilings

• Imposing fully glazed oak floored reception

lobbies

• Wide fully carpeted stairways

• Disabled WCs incorporating shower units

• Fitted kitchens with microwaves and

dishwashers.

SiteThe property is situated on a site with an area of

approximately 3.73 acres (1.51 hectares).

The units shaded blue have been leased on

999 year long leaseholds at a peppercorn.

ACCOMMODATION

The accommodation has been measured in accordance with the RICS 6th Code ofMeasuring Practice on a Net Internal Area basis as follows:

TenancyThe units are let as detailed in the table below:

TenureThe property is held freehold.

Service ChargeThere is a service charge which applies to the estate. The service charge budget for

2015/16 is £99,920 apportioned on a percentage basis set out in each lease.

WAULT of

11.33 years

to expiry

Unit Tenant Lease Start

DateLease End

DateTerm Break Date

Rent (perannum)

Rent (psf) Comments

Unit 1 Cubist (UK) Ltd 05-Dec-14 04-Dec-19 5 years £64,750 £24.99 Outside the 1954 Act

Unit 3 Analog Devices Ltd 28-Feb-06 27-Feb-16 10 years £101,000 £25.08 Lease renewal currently in negotiations for a new 5 year lease at £26.00 psf

Unit 4 Vacant Tenant vacating Oct-15 after a 7 year term

Unit 5 Vacant Tenant vacating Oct-15 after a 7 year term

Unit 6 Vacant Tenant holding over for a further 3 months

Unit 10 3T Leasing Limited 04-Jan-12 03-Jan-37 25 years 03-Jan-22 £98,800 £20.00Break option also in 2027 & 2032. Stepped Rent, rising to £197,600

Unit 11 3T Leasing Limited 04-Jan-12 03-Jan-37 25 years 03-Jan-22 £98,800 £20.00

Unit 16 Next Connex Ltd 03-Dec-13 02-Jun-195 years and 6 months

03-Jun-17 £51,980 £22.99 Outside the 1954 Act

Units 2, 7-9,12-15

Sold off on longleaseholds

999 years Peppercorn

Totals £415,330

Unit Tenant Ground Floor

(sq ft)First Floor

(sq ft)Second Floor

(sq ft)Total Area

(sq ft)

Unit 1 Cubist (UK) Ltd 1,038 993 570 2,601

Unit 3 Analog Devices Ltd 1,632 1,591 867 4,090

Unit 4 Vacant 1,038 993 570 2,601

Unit 5 Vacant 1,276 1,047 716 3,039

Unit 6 Vacant 1,276 1,047 716 3,039

Unit 10 3T Leasing Limited 1,995 1,844 1,083 4,922

Unit 11 3T Leasing Limited 1,995 1,844 1,083 4,922

Unit 16 Next Connex Ltd 891 852 498 2,241

Total 27,455

WEYBRIDGE OFFICE OCCUPATIONAL MARKET

Weybridge Office MarketWeybridge is one of the principal office locations in the

Thames Valley region and benefits from an affluent and

highly skilled catchment population, as well as rental growth

driven by occupiers priced out of Central London. It is home

to a number of UK and European headquarters, including LG

Electronics, Cargill, Toshiba, Procter & Gamble, Sony, Royal

Caribbean Cruises, Mondi and Samsung.

While there are a number of office buildings in the town

centre, the focus of the Weybridge office market is now the

established out of town business parks. As well as the subject

property, The Heights, Weybridge Business Park, Bourne

Business Park, Aviator Park and Brooklands are the preferred

occupier locations. These parks have been the focal point for

the majority of leasing activity in and around the town in

recent years and have now driven rents on new build office

buildings above £30 psf.

The following represent some of the more notable leasing

transactions in the Weybridge area:

Date Property TenantArea

(sq ft)Lease Term

YearsRent Rent (psf) Comment

May-15 Velocity 2, Weybridge LG Electronics UK Ltd 48,007 15 £1,474,887 £31.00Capped first rent review of£1,665,195. Whole Building

Jan-15 Velocity 1, Weybridge Cargill Plc 25,401 10 £819,204£31.50 (G)

£33.00(1st Floor)

Ground & First Floor. Break at Year 5

Mar-13 3 The Heights, Weybridge AB Initio Software 14,653 5 £432,264 £29.50

Mar-13 3 The Heights, Weybridge Dentsply Limited 20,780 10 £592,230 £28.50

Mar-13 5 The Heights, Weybridge Cameron Oil 57,016 10 £1,596,448 £28.00

Affluent, established office location

in the London suburbs

InvestmentRationale

Modern, 2004 build office

investment

27,455 sq ft (2,551 sq m) of Grade A

office accommodation

Immediate leasing capabilities in a

rising market

Sought after location being

approximately 3 miles from Junction

10 of the M25

Low rents compared to neighbouring

Thames Valley Centres

SOUTH EAST OFFICE INVESTMENT MARKET

The South East investment market has gone from strength to strength

over the past 18 months and is currently experiencing unprecedented

investor appetite. The market has continued to thrive and is driven by

increased occupier demand, reduced vacant rates and rental growth.

The improvement in the occupational market is allowing investors to

positively appraise assets based on evidence and not just sentiment.

There have been significant amounts of local and overseas capital

targeting opportunities across the risk curve. However, there is still

room for further rental growth and yield compression in regional

markets, due to strengthening fundamentals, while well-located, good

quality property in secondary markets is expected to have the best

prospects for capital growth over the medium term.

South East office transactions totalled over £3.25bn in 2014, with

£2.09bn transacted in the first half of 2015. Prime Yields currently stand

at £5.25% and are expected to harden to 5.00%.

The following represent some of the more notable investment

transactions in the South East:

Date Property TenantArea (sq ft)

Price NIY Vendor / Purchaser

Oct-15 Orion Gate, Woking Multi-let 51,180 £23,510,000 5.50% Under Offer

Sep-15 Velocity. Weybridge Multi-let 106,400 £56,100,000 5.70% Rockspring / Orchard Street

Aug-15 The Atrium, Uxbridge Multi-let 158,529 £55,900,000 5.70% Aviva Investors / Blackrock

Jul-15 Kingsmead Business Park, High Wycombe Multi-let 142,673 £40,000,000 6.70% Clerbell / LaSalle IM

Jul-15 Gateway House, Guildford Multi-let 16,781 £6,900,000 5.90% Napier Capital / F&C Reit

Jun-15 Tempus Court, Guildford Multi-let 25,691 £10,500,000 5.85% Henderson / Kames Capital

May-15 Argentum, Hammersmith Multi-let 25,424 £16,630,000 4.00% Merseyside Pension Fund / Royal London

Aug-14 80 Moorbridge Road Multi-let 18,894 £6,900,000 5.66% Aberdeen Asset Management / L&G

We are seeking offers in excess of £6,343,000 (Six Million Three

Hundred and Forty-Three Thousand Pounds) reflecting a net initial

yield of 6.20%, rising to 10.00% upon letting the vacant space, having

allowed for purchaser’s costs of 5.80%.

Planning The units have planning consent for B1. Units 10 & 11 have subsequently obtained D1 use.

VATThe property has been elected for VAT.

EPC RatingThe full EPC’s for all of the units can be viewed on the website below.

Web Accesswww.cushmanwakefieldinvestmentsales.co.uk/cw/horizonbusinessvillage

PROPOSAL

October 2015

MISREPRESENTATION ACT 1967 Cushman & Wakefield LLP (and their joint agents if appointed) for themselves and for vendors or lessors of this property whose agents they are, give notice that: (1) The particulars are produced ingood faith, are set out as a general guide only and do not constitute any part of a contract. (2) No person in the employment of the agent(s) has any authority to make or give any representation orwarranty whatever in relation to this property. (3) This property is offered subject to contract and, unless otherwise stated, all rents are quoted exclusive of VAT. (4) Nothing in these particulars shouldbe deemed to be a statement that the property is in good condition or that any services or facilities are in working order. (5) Unless otherwise stated, no investigations have been made regardingpollution or potential land, air or water contamination. Interested parties are advised to carry out their own investigations if required.

Production by PlusArt 0115 972 4000

Josh BeebeeE: joshua.beebee@cushwake.comT: +44 (0) 207 152 5266

Lyndsay Barnes E: lyndsay.barnes@cushwake.comT: +44 (0) 207 152 5295

Cushman & Wakefield LLP43/45 Portman SquareLondon W1A 3BG

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