3 PERCY WAY, ST JOHN S BUSINESS PARK, HUNTINGDON, PE29 6SZ

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1 3 PERCY WAY, ST JOHN S BUSINESS PARK, HUNTINGDON, PE29 6SZ MODERN OFFICE INVESTMENT OPPORTUNITY PRIVATECLIENT

2 INVESTMENT SUMMARY Modern office building situated in the established St John s Business Park Huntingdon is an affluent town, well located on the and its junction with the A1(M) Detached self-contained building providing 9,248 sq ft (859.1 sq m) of modern office accommodation arranged over two storeys Entirely let to Omega Pharma NV and Omega Pharma Ltd with an expired term of approximately 5.5 years Current rent passing of 141,050 pa reflecting psf Freehold Excellent on site car parking ratio of 1:215 sq ft Offers are sought in excess of 1,600,000 (One Million Six Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects an attractive net initial yield of 8.30% allowing for purchaser s costs of 6.14%. This represents a low capital value of 173 psf

3 3 PERCY WAY, ST JOHN S BUSINESS PARK, HUNTINGDON, PE29 6SZ MODERN OFFICE INVESTMENT OPPORTUNITY Location Huntingdon is a fast growing market town in East Anglia well located between Cambridge and Peterborough. The town is located approximately 29 km (18 miles) north west of Cambridge, 31 km (19 miles) south of Peterborough, 61 km (38 miles) north east of Milton Keynes and 111 km (69 miles) north of London. The town benefits from excellent transport links situated on the which connects the town to the A1 (M) less than 8 km (5 miles) to the north which acts as an important north-south arterial link. The town also benefits from excellent rail links with a regular fast rail service to London Kings Cross with a fastest journey time of 48 minutes. London Stansted and London Luton Airports are both within 80 km (50 miles) of the property. BIRMINGHAM M5 M42 M42 M6 M40 OXFORD A43 M40 MILTON KEYNES PETERBOROUGH M1 A1(M) A1 A428 A1(M) M25 A47 HUNTINGDON LUTON M11 A11 A10 CAMBRIDGE A120 A12 A1(M) 1 ERMINE BUSINESS PARK ST. JOHNS BUSINESS PARK WASHINGLY RD PERCY ROAD STUKELEY MEADOWS INDUSTRIAL ESTATE SPITTALS WAY 1 HUNTINGDON RETAIL PARK ST. PETER S INDUSTRIAL ESTATE ST PETERS ROAD CONEYGEAR RD 1 Situation St John s Business Park is situated on the northern edge of Huntingdon, on the town s main ring road (1) Spittals Way. It forms the key business area along with Stukeley Meadows Industrial Estate and Ermine Business Park. The park totals 22 acres (8.9 hectares) and comprises a mix of car showrooms, offices and warehouses. Other occupiers on St. John s Business Park include Vindis Audi, Vindis Volkswagen, Anglian Water Group and Homebase. READING LONDON J23 HINCHINGBROOKE BUSINESS PARK M11 ERMINE STREET B1044 STUKELEY MEADOWS STATION

4 3 PERCY WAY, ST JOHN S BUSINESS PARK, HUNTINGDON, PE29 6SZ MODERN OFFICE INVESTMENT OPPORTUNITY 2b 2c 1 Osprey House Description The property was built in 2007 and comprises a two storey building of steel frame construction with brick elevations under a pitched tiled roof. The property comprises the following specification: ESS SPITTALS WAY El Sub Sta Raised access floors Suspended ceilings Comfort cooling air handling system Cat. 2 lighting Male, female and disabled WCs on both floors Shower Facilities 8-person passenger lift Double glazing Secure floor key card access The property benefits from 43 on-site car parking spaces providing an excellent ratio of 1:215 sq ft. Site Area Site area of approximately 0.75 acres (0.30 hectares). 3 Accommodation The property provides the following net internal areas (NIA); Area (Sq M) Area (Sq Ft) Ground ,465 First ,683 Ground Shared Areas Total ,248 20m 30m Crown Copyright, ES For identification purposes only. PERCY ROAD Tenure Freehold.

5 3 PERCY WAY, ST JOHN S BUSINESS PARK, HUNTINGDON, PE29 6SZ MODERN OFFICE INVESTMENT OPPORTUNITY Tenancy The property is let in its entirety to Omega-Pharma N.V and Omega Pharma Ltd on a 15 year FRI lease from 29th September 2007 expiring 28th March The current passing rent is 141,050 pa ( psf) and is subject to 5 yearly upward only rent reviews. The tenant is not in occupation. The ground floor is currently sub-let to Capita Plc (previously Cedar HR Software Ltd) for a term of 10 years from 19th April 2010 expiring the 18th April 2020 at a passing rent of 68,250 pa ( psf). The sub-lease is outside the 1954 L&T Act. Covenant Omega Pharma is a Belgian based pharmaceutical company established in 1987 and quickly grew to become one of the largest over the counter healthcare companies in Europe. In 2015 Omega Pharma was acquired by Perrigo Company plc and now trades as Perrigo UK & Ireland. Perrigo is the world s largest manufacturer of over the counter healthcare products and supplier of infant formulas for the store brand market. The company is also a leading provider of branded over the counter products throughout Europe and the U.S. Perrigo employs over 10,000 people worldwide. Omega Pharma NV is a Belgium based company and has a D&B rating of 5A1 representing a minimum risk of business failure. Investment Market There has been strong demand for well let regional office investments as is demonstrated by the following recent transactions: 31 Dec 2016 (d) 31 Dec 2015 (d) 31 Dec 2014 (d) Date Property Purchase Price NIY Cap Val (psf) Tenant Unexpired Term Purchaser Turnover 29,266,053 35,177,706 36,373,172 Tangible Net Worth 1,503,820,133 1,028,538, ,255,376 Omega Pharma Ltd is a UK based company and has a D&B rating of 3A1 representing a minimum risk of business failure. 31 Dec 2015 ( ) 31 Dec 2014 ( ) 31 Dec 2013 ( ) Turnover 86,776,000 80,387,000 68,889,000 Tangible Net Worth 11,252,000 8,194,000 5,420,000 Jun-17 4 Lancaster Way, Huntingdon 5,250, % 246 Anglian Water Services Ltd 11.5 years Local Jun-17 4 Cyrus Way, Cygnet Park, Peterborough 2,000, % 181 Bulley Davey 5.6 years Local Apr-17 Trinity House, Ashford 5,850, % 282 Kent Community Health NHS Foundation Trust 12.0 years Local Apr-17 Bulley Davey, Peterborough 2,000, % 181 Bulley Davey 5.5 years Local Jan-17 Harrow House, Basingstoke 1,369, % 126 Trane UK Ltd 4.0 years Undisclosed Net Current Assets 7,777,000 4,657,000 5,011,000 Jan-17 Aibel House, Petersfield 2,100, % 209 Colt International 5.0 years (to break) Private Aug-16 Centre 3, 80 Wilbury Way, Hitchin 2,185, % 104 Willmott Dixon Construction Ltd 5.0 years (to break) Local

6 EPC The property has an EPC rating of C (56). DATAROOM For access to the Allsop Data Room, please use the following link: VAT The property has been elected for VAT. PROPOSAL Offers are sought in excess of 1,600,000 (One Million Six Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects an attractive net initial yield of 8.30% allowing for purchaser s costs of 6.14%. This represents a low capital value of 173 psf For further information or to make arrangements for viewing please contact: PRIVATE CLIENT TEAM Alex Butler alex.butler@allsop.co.uk Jonathan Butcher jonathan.butcher@allsop.co.uk PRIVATECLIENT 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. Design CommandD