MODERN MULTI-LET OFFICE INVESTMENT€¦ · • Nearby occupiers include David LloydLeisure and Crown Plaza Hotel • High specification office building totalling 935.52 sq m (10,070

MODERN MULTI-LET OFFICE INVESTMENT UNIT 1 HURRICANE COURT, HURRICANE DRIVE, ESTUARY PARKLIVERPOOL L24 8RL

Summary Location The SiteDescription/

TenureAccommodation Covenant Proposal/VAT Contact Us

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Investment Summary• Established office location close to Liverpool city centre

• Part of the wider Hurricane Court development totalling over 8,361 sq m (90,000 sq ft)

• Nearby occupiers include David Lloyd Leisure and Crown Plaza Hotel

• High specification office building totalling 935.52 sq m (10,070 sq ft)

• Let for a further 5 years to the strong covenant of Agility Logistics Solutions Ltd

• Passing rent £95,665 per annum reflecting just £9.50 per sq ft

We are instructed to seek offers of £1,000,000 (One Million Pounds), which reflects a net initial yield of 9.05% after purchaser’s costs at 5.75%.

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LocationHurricane Court is located at the centre of Liverpool International Business Park. The park is 6 miles south east of Liverpool city centre, 30 miles west of Manchester and only 1 mile west of Liverpool John Lennon Airport.

Liverpool International Business Park is Liverpool’s premier business park location providing a mix of uses including office, warehousing, research and development together with a range of leisure and hotel amenities. The park contains Crown Plaza and Holiday Inn hotels and a David Lloyd Leisure club. New Mersey Retail Park is less than a mile to the north and includes occupiers such as M&S, Next, Boots and B&Q.

Estuary Commerce Park is immediately adjacent and comprises 40 hectares (98 acres) of high quality commercial space with occupiers including Lloyds and DHL.

A561MARRIOTT HOTEL

DAVID LLOYD

NEW MERSEYRETAIL PARK

ESTU

ARY

BO

ULE

VARD

ESTUARY BANKS

SPEKE BOULEVARD

A561

BANK’S ROAD

DAK

OTA

DRI

VE

WES

TERN

AVE

NU

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DUNLOP ROADDUNLOP ROAD

SPEK

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ALL

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AD

LEEW

ARD

DR

LIVERPOOLINTERNATIONAL

ESTUARY POINT

BUSINESS PARK

LIVERPOOL JOHN LENNONINTERNATIONAL AIRPORT

GARSTON

SPEKE

M57/M62

CITY CENTRE

SPEKE BOULEVARD

A561

A561

A561

ESTUARY BANKS

ESTU

ARY

BO

ULE

VARD

HU

RRIC

AN

E D

RIVE

SPEKE HALL AVENUE

SPEKE ROAD SPEKE ROAD

GARSTON SHORE ROAD

WOODEND AVEN

UE

M53

M57

M62

M62

M60

M60

M6

M6

M6

M56

M56

M56

CREWE

110

M602

RUNCORN

R IV ERM

ER SEY

NANTWICH

A51

A49

A483

A541

5

59

10 14

12

1110

9

6

321

23

26

12

16

4

4

2

3

1

7

19

18

ST HELENS

MIDDLEWICH

MANCHESTER

HOLMESCHAPEL

KNUTSFORD

MANCHESTERINTERNATIONAL

AIRPORTLIVERPOOL

JOHN LENNONAIRPORT

17

16

NORTHWICH

CHESTER

LIVERPOOL

A56

A34

A58

A580

A562

16

1115

209

1021A

GARSTON

SPEKE

BIRKENHEAD

A500

A50

A55

A548

A550

A540

A41

A41

A561 A530

0

A56

A49

A556

A580

WARRINGTON

A51

RERRERLIVEVEJOHN

TONT

SEY

STSTST

SEYRVERR

JOHN

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Situation

B&M BARGINS

ESTUARY POINT

ESTUARY BOULEVARD

HURRICANE COURT

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DescriptionThe subject property comprises Unit 1 Hurricane Court within the successful Liverpool International Business Park development. The wider Hurricane Court development provides a total of 19 buildings and over 8,361 sq m (90,000 sq ft). The buildings provide modern office accommodation including air conditioning, raised floors, recessed lighting and lift. Externally the building sits in a landscaped estate and provides the right to use a total of 48 car parking spaces providing an excellent ration of 1 space per 19.41 sq m (1 space per 209 sq ft).

TenureThe property is held on a long leasehold for a term of 950 years from 17th March 2006. The Long Leaseholder has the right to use 48 car parking spaces.

TenancyThe unit is let to Agility Logistics Solutions Ltd on a 10 year full repairing and insuring lease from 10th March 2014 providing a further 5 years term certain. The passing rent is £95,665 per annum reflecting £102.25 per sq m (£9.50 per sq ft).

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Accomodation

Floor Sq m Sq ft

Ground 303.8 3,270

First 315.9 3,400

Second 315.9 3,400

TOTAL 935.6 10,070

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Covenant Agility Logistics Solutions Ltd is par t of a global logistics business specialising in building efficient supply chains that power businesses and drive trade. The global business has over 500 off ices in over 100 countr ies and employs over 22,000 people with revenues of $4.6bn.

Agil ity Logistics Solutions Ltd has its UK base in Hurr icane Court and has 113 employees. Their last 3 years accounts can be summarised as fol lows:

31st Dec 2017 31st Dec 2016 1st Dec 2015

Turnover £43,081,728 £43,028,775 £36,973,212

Pre-Tax Profit £834,801 £809,918 £1,549,076

Shareholders Funds £8,516,087 £7,683,563 £6,874,193

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ProposalWe are instructed to seek offers of £1,000,000 (One Million Pounds), which reflects a net initial yield of 9.05% after purchaser’s costs at 5.75%.

VATWe understand the property is elected for VAT purposes. It is anticipated that the sale will be treated as the Transfer of a Going Concern ( TOGC).

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Contact

Misrepresentation Act: These particulars shall not form part of any offer or contract and no guarantee is given as to the condition of the property or the accuracy of its description. An intending purchaser or tenant is not to rely on any representation made in these particulars and must satisfy himself as to their accuracy by his own investigation before entering into any contract.

March 2019.

ContactSimon Harland

[email protected]

0191 255 7770

or

James Metcalf

[email protected]

0191 255 7770

MHPI Limited

1st Floor West Wing

City Quadrant

Waterloo Square

Newcastle upon Tyne

NE1 4DP

Documents

MODERN MULTI-LET OFFICE INVESTMENT€¦ · • Nearby occupiers include David LloydLeisure and Crown Plaza Hotel • High specification office building totalling 935.52 sq m (10,070