EMPIRE WAY, WEMBLEY, HA9

Transcription

1 EMPIRE WAY, WEMBLEY, HA9

2 AN OPPORTUNITY TO GAIN EXPOSURE IN ONE OF LONDON S MOST REGENERATED AREAS WEMBLEY PARK IS AN 85 ACRE, WORLD- RENOWNED, MIXED-USE LONDON DESTINATION.

3 INVESTMENT SUMMARY SITUATED ON EMPIRE WAY IN THE HEART OF QUINTAIN S 85 ACRE REGENERATED WEMBLEY PARK LOCATED WITHIN CLOSE PROXIMITY TO WEMBLEY PARK UNDERGROUND STATION, AND THE ICONIC WEMBLEY STADIUM EXISTING BUILDING IS ARRANGED OVER PART BASEMENT, GROUND FLOOR RECEPTION AND FIFTEEN UPPER FLOORS TOTALLING 114,695 SQ FT NIA (10,655.5 SQ M) PLANNING APPLICATION TO BE SUBMITTED TO RE-LOCATE THE RECEPTION TO FRONT THE LONDON DESIGNER OUTLET, WHICH ATTRACTS A FOOTFALL OF 6 MILLION VISITORS PER YEAR OPPORTUNITY TO IMPLEMENT A ROLLING REFURBISHMENT OF THE EXISTING OFFICE ACCOMMODATION TO FURTHER DRIVE THE INCOME DEVELOPMENT OPTIONS SUBJECT TO PLANNING AND FREEHOLDER S CONSENT NEW 250 YEAR LONG LEASEHOLD INTEREST AT A PEPPERCORN RENT MULTI-LET PRODUCING 1,816,090 INCOME PER ANNUM WHICH REFLECTS ONLY PER SQ FT OVERALL WAULT OF 1.9 YEARS TO BREAK AND 3.3 YEARS TO EXPIRY OFFERS IN EXCESS OF 28M (TWENTY EIGHT MILLION) REFLECTING A NET INITIAL YIELD OF 6.07%, A REVERSIONARY YIELD OF 7.86% AND A CAPITAL VALUE OF ONLY 244 PER SQ FT (ASSUMING PURCHASER S COSTS OF 6.80%)

4 LOCATION YORK HOUSE OCCUPIES A PROMINENT SITE FRONTING EMPIRE WAY AND ROYAL ROUTE IN THE HEART OF QUINTAIN S 85 ACRE WEMBLEY PARK DEVELOPMENT. Wembley Park is now a world-renowned, mixed use destination in London with over 4,000 employees it is already a thriving business community with a further 1.5 million sq ft of commercial space in the pipeline. The London Designer Outlet offers a unique shopping experience with a range of brands such as TM Lewin, Kurt Geiger, Nike and Gap at discounts of up to 70%. Furthermore there are a vast range of restaurants and bars such as Las Iguanas, Ping Pong, Wagamama, Chaboba and Cabana. Wembley Park has over 1,400 hotel rooms with operators including Hilton, Holiday Inn, Ibis and Novotel. Wembley Park Station Jubilee & Metropolitan lines 1 Olympic Way Novotel Emerald Gardens Brent Civic Centre The SSE Arena, Wembley Powerleague Five-a-side Forum House Raffles House Hilton Wembley Quadrant Court London Designer Outlet Red Parking York House Holiday Inn IBIS Hotel Wembley Stadium Station Chiltern Railways

5 CREATING A NEW WEMBLEY PARK For over a decade Quintain has been delivering the regeneration of Wembley Park, working in close collaboration with the London Borough of Brent. With the next phase of the area s masterplan, Quintain is setting out an exciting future that will see the area further transformed. Computer generated image

6 HOMES & SOCIAL INFRASTRUCTURE 7,000 HOMES IN TOTAL 630 PLACES IN A NEW PRIMARY SCHOOL 200 ADDITIONAL NURSERY SPACES IN TOTAL GP SURGERY COMMUNITY MEETING PLACES AND PUBLIC PLAY PARK PLACEMAKING, PUBLIC REALM, TRANSPORTATION & PARKING DAY DESTINATION SPORTS & MUSIC EVENTS, SHOPPING, CINEMA, MARKETS, RESTAURANTS & HOTELS NEW 7 ACRE PARK IMPROVED TRANSPORT CONNECTIONS 3,400 PUBLIC CAR PARKING SPACES PROVIDING A PERMANENT SOLUTION FOR STADIUM PARKING ,640 NEW JOBS IN ADDITION TO THE CONSTRUCTION WORKFORCE EMPLOYMENT & LEISURE 16M EMPLOYEE SPENDING PER YEAR 900 JOBS PER MONTH DURING CONSTRUCTION 6.5M COUNCIL TAX 6.1M BUSINESS RATES NOT TO SCALE. FOR INDICATIVE PURPOSE ONLY. THE FUTURE OF WEMBLEY PARK 1 WEMBLEY STADIUM 2 THE SSE ARENA, WEMBLEY 3 FORUM HOUSE 4 QUADRANT COURT 5 HILTON LONDON WEMBLEY 6 LONDON DESIGNER OUTLET 7 BRENT CIVIC CENTRE 8 RED PARKING 9 EMERALD GARDENS 10 ALTO 11 NW07/08 12 PREMIER INN 13 SOUTH WEST LANDS 14 BLUE PARKING 15 CANADA COURT 16 PRIMARY SCHOOL 17 PINK PARKING (VDC) 18 YORK HOUSE 800M INVESTMENT TO DATE START-UP WORKSPACES 10M VISITORS EXPECTED IN 2016 UP FROM 4M IN 2004

7 WEMBLEY PARK IS NOW A WORLD-RENOWNED, MIXED USE DESTINATION IN LONDON WITH OVER 4,000 EMPLOYEES, AND IS ALREADY A THRIVING BUSINESS COMMUNITY WITH A FURTHER 1.5 MILLION SQ FT OF COMMERCIAL SPACE IN THE PIPELINE.

8 East Lane Preston Road Park Lane A4088 Forty Avenue A404 High Road Wembley Hill Road Wembley Park Drive York House Wembley Hill Road A404 Empire Way B4565 Wembley Stadium Wembley Park The SSE Arena,Wembley Hilton Wembley London Designer Outlet Olympic Way South Way B4557 First Way Fifth Way A406 B4557 Great Central Way LONDON UNDERGROUND Wembley Central Wembley Park Bakerloo Metropolitan Jubilee Baker Street 12 mins Bond Street 19 mins King s Cross 20 mins Farringdon 23 mins Green Park 22 mins Westminster 24 mins Oxford Circus 29 mins Piccadilly Circus 32 mins Waterloo 26 mins London Bridge 29 mins Canary Wharf 32 mins Wembley Central Harrow Road Wembley Stadium Marylebone 15 mins High Wycombe 27 mins NATIONAL RAIL SERVICES Wembley Central Watford Junction 12 mins Clapham Junction 28 mins CONNECTIVITY Wembley Park has excellent rail and tube connectivity, provided by three key stations: Wembley Central (1.1km southwest) National Rail Bakerloo Underground London Overground Wembley Park (800m north) Metropolitan & Jubilee Lines Wembley Stadium (200m south) Overground Rail Wembley Park sits outside the Central London Congestion Charge Zone and is well placed to provide swift access to and from Central London and the surrounding commuter belt. Travel distance miles Harrow 4.1 Ealing 4.6 Heathrow Airport 9 Central London 10.7 Source: Google Maps

9 CONSTRUCTED IN THE EARLY 1960S, YORK HOUSE IS ARRANGED OVER PART BASEMENT, GROUND FLOOR RECEPTION AND FIFTEEN UPPER FLOORS AND PROVIDES APPROXIMATELY 114,695 SQ FT OF OFFICE ACCOMMODATION. DESCRIPTION York House is of concrete framed construction beneath a flat roof, which in 2012 was externally redecorated. The building is arranged around a central core providing 4 X 20-person Guideline passenger lifts and a primary stairwell. In addition, there are two fire escapes located at both the eastern and western sides of the building. Benefitting from rectangular floor plates, the building provides total flexibility for single or multiple occupancy. The majority of the floors have been refurbished to provide cassette air conditioning units, suspended ceilings and perimeter trunking.

10 SPECIFICATION YORK HOUSE OFFERS A MIX OF REFURBISHED AND UN-REFURBISHED OFFICE ACCOMMODATION AND COMPRISES THE FOLLOWING SPECIFICATION: GAS FIRED CENTRAL HEATING INDIVIDUAL ELECTRIC METERS TO OFFICE SUITES SUSPENDED CEILINGS AIR CONDITIONING PERIMETER TRUNKING MIX OF SUSPENDED CEILINGS WITH INTEGRAL LIGHTING/ CEILING MOUNTED LIGHTING FOUR CENTRAL 20-PERSON PASSENGER LIFTS MALE & FEMALE WCs ON EACH FLOOR WITH DISABLED WCs TO 4TH FLOOR

11 ACCOMMODATION FLOOR PLANS York House provides the following net internal areas: FLOOR SQ FT SQ M FIFTEENTH 2, FOURTEENTH 7, THIRTEENTH 7, TWELFTH 7, ENTRANCE LOBBY WC WC OFFICE ELEVENTH 8, TENTH 7, NINTH 8, EIGHTH 7, GROUND FLOOR RECEPTION (Existing) WC WC SEVENTH 8, SIXTH 8, FIFTH 8, FOURTH 8, THIRD 8, SECOND 8, FIRST 6, YORK HOUSE LONDON DESIGN OUTLET NEW ENTRANCE LOBBY OFFICE TOTAL 114,695 10,655.5 GROUND FLOOR RECEPTION (Proposed) TYPICAL FLOOR PLANS NOT TO SCALE. FOR INDICATIVE PURPOSE ONLY.

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13 79 to 83 1 to 234 Quadrant Court STADIUM WAY Cineworld Cinema London Designer Outlet York House Car Park 84 to 94 ROYAL ROUTE TENURE YORK HOUSE WILL BENEFIT FROM A NEW 250 YEAR LEASEHOLD INTEREST FROM CHESTERFIELD INVESTMENTS (NO.5) LIMITED (A SUBSIDIARY OF QUINTAIN PLC) AT A PEPPERCORN RENT. 0m 10m 20m 30m Hotel Not to scale. For identification purposes only. This plan is based upon the Ordnance Survey map with the sanction of the controller of H.M. Stationery Office. Crown Copyright reserved.

14 YORK HOUSE IS MULTI-LET IN ACCORDANCE WITH THE TENANCY SCHEDULE BELOW. * Tenancy Schedule as at the 04/01/2017 FLOOR TENANT USE AREA (SQ FT) START END NEXT RENT REVIEW RENT (PA) RENT (PSF) ERV (PSF) ERV (PA) LTA 1954 ACT COMMENT Roof T-Mobile (UK) Ltd & Hutchison 3G UK Ltd Antenna - 20/03/ /09/ ,473-36,473 - Out Roof Airwave Solutions Ltd Antenna - 18/09/ /09/ /09/ ,500-14,500 - Out Holding over and new lease to be entered into imminently. T can determine anytime on 12m notice. L can determine anytime on 12m notice for redevelopment of the roof. TBO on the 18/09/2019 on 6m notice. LBO anytime after 18/09/2019. Rent Reviews 18/09/2017, 18/09/2020, 8/09/2023 in accordance with RPI index. Landlord may lift and shift upon 6m notice. Roof Cornerstone Telecommunications Infrastructure Ltd Antenna - 18/11/ /11/ /11/ ,000-21,000 - Out MBO 18/11/ m notice. Roof Velocity1 Ltd Antenna - 24/06/ /06/ Out New lease being put in place for 9 years with rolling break after year 3 on 12m notice. Roof Mayor s Office for Policing & Crime (MOPC) Antenna - 16/03/ /03/2017-6,000-6,000 - Out MBO anytime on 6m notice. 15th (North & South) ehouse Ltd Office 2,824 27/02/ /02/ , , Out TBO 27/02/2018 on 6m notice. Rent Deposit held of 15, th (South Front) Dimensions (UK) Ltd Office /07/ /06/ , , Out 14th (South Front) I N Hotel Consultancy Ltd Office /01/ /12/ , , Out Rent Deposit held of 2, th (South Front) R.Chatru and Co Ltd Office /09/ /08/2019-9, , Out Rent deposit held of 2, MBO on 30/09/2016, 31/12/2016, 31/03/2017, 30/06/2017 and each anniversary of those dates until expiry of the term on 3m notice. 14th (South Rear) Sofyne Active Technology Ltd Office 1,486 07/10/ /10/ , , Out Rent Deposit held of 7, th (North Front) P & P Hotel Consultancy (UK) Ltd Office /01/ /12/2020-8, , Out Rent Deposit held of 2, th (North Front) Management Suite Office , Out Management Suite. 14th (North Front) T-Mobile (UK) Ltd & Hutchison 3G UK Ltd Office /03/ /9/ , , Out Holding over. New lease to be completed imminently. 14th 14th Yokowo Europe Ltd Office 1,320 25/12/ /12/ , , Out Tomgandhi Consulting Ltd Office /07/ /07/2020-9, , Out Rent deposit held of 2, MBO 24/03/2015, 23/06/2015, 28/09/2015 & 24/02/2015 and each anniversary of those date on 3m notice until the expiry of the term on 3m notice. MBO 08/17/2019 on 3m notice. Rent deposit held of 2, th Community Systems Ltd Office /10/ /10/2019-9, , Out MBO 16/10/2017 and 16/10/2018 on 3m notice. 13th 13th (North Front) 13th Sandringham Oak Consultants & Training Centre Ltd Libra Financial Management (UK) Ltd Office /12/ /12/ , , Out Office /03/ /03/2019-7, , Out Single Point Financial Services LTD Office /07/ /06/2017-3, , Out Rent deposit held of 1, MBO 08/07/2016, 08/10/2016, 08/01/2017 and 08/04/2017 and each anniversary of those dates until expiry of the term on 3m notice. Rent deposit held of 2, MBO 08/07/2016, 08/10/2016, 08/01/2017 and each anniversary of those dates on 3m notice. MBO on 30/09/2015, 30/12/2015, 30/03/2016 on 3m notice and on each anniversary of those dates until the expiry of the term.

15 TENANCY SCHEDULE cont d FLOOR TENANT USE AREA (SQ FT) START END NEXT RENT REVIEW RENT (PA) RENT (PSF) ERV (PSF) ERV (PA) LTA 1954 ACT COMMENT 13th Mir Abas t/a Afmart I.T.A.B Office /10/ /06/2017-3, , Out Rent Deposit held of MBO on 25/03, 23/06, 28/09 or 24/12 and each anniversary on those dates on 3m notice until the expiry of the term. 13th (North Front) Vacant Office 1, , , Out 12m Rent, Rates and Service Charge Guarantee. 13th (South Wing) Xcel Concepts LLP Office 4,002 01/07/ /06/ /07/ , , Out MBO 30/06/2018 or 31/12/2020 on 6m notice. Rent-free period 01/07/2018 to 31/12/2018 if tenant does not exercise break option. 12th (North Front) Skills Training UK Ltd Office 3,146 13/09/ /03/ /09/ , , Out TBO 12/09/2021 on 6m notice. 12th Sofyne Active Technology Ltd Office 1,500 07/03/ /03/ , , Out Rent Deposit held of 9, th (South Front) Skylink Travel & Tours Ltd Office /03/ /03/2019-7, , Out Rent deposit held of 1, MBO breaks 12/10/2017, 12/01/01/2018, 12/04/2018, 12/07/2018 and each anniversary of those dates until expiry upon not less than 3 months notice. 12th (South Front) Renewsys UK Ltd Office /10/ /10/2017-8, , Out Rent Deposit held of 2, th (South Rear) Hope Not Hate Educational Ltd Office /08/ /08/ , , Out 12th (South Rear) Positive Packaging Industries Ltd Office /04/ /03/2017-8, , Out 11th (South Wing) Delaware North Companies UK Services Ltd Office 4,180 24/06/ /06/ , , Out 11th (North Front) Powerleague Fives Ltd Office 4,229 12/07/ /07/ , , Out TBO 12/07/2019 on 9m notice. 10th Life Insurance Corporation of India Office 1,917 01/11/ /10/ , , Out MBO anytime on 4m notice. 10th (South Front) B T Denholm & T M Sheikh Office 1,850 17/09/ /09/ , , Out MBO anytime on 4m notice. 10th (South Front) LSA Consulting UK Ltd Office 1,010 01/01/ /12/2017-7, , Out Rent deposit held of 1, MBO on 01/01, 01/04, 01/07, 01/10 and every anniversary of those dates until the expiry of the term on 3m notice. 10th (South Front) London Motorcycle Training Ltd Office /10/ /10/2016-7, , Out Holding Over. 10th (South Front) Vacant Office , , Out 12m Rent, Rates and Service Charge Guarantee. 10th (South Rear) Moohitlall Doobey Girdharee and Yaw Sappong KumanKomah t/a Professional Accountancy Tutors Office 1,085 01/09/ /08/ , , Out Rent deposit held of MBO 01/01, 01/04, 01/07, 01/10 and each anniversary of those dates until the expiry of the term on 3m notice. 10th (South Rear) Sara (London) Ltd Office /09/ /09/2021-8, , Out TBO on each of 24/03. 23/06, 28/09 and 24/12 every year on 3m prior notice. Rent Deposit held of 3, th (South Wing) 360 GSP Ltd Office 4,228 01/07/ /03/ , , Out TBO 30/06/2022 on 6m notice. 9th (South Wing) Surfdome Shop Ltd Office 3,880 01/02/ /01/ , , Out

16 TENANCY SCHEDULE cont d FLOOR TENANT USE AREA (SQ FT) START END NEXT RENT REVIEW RENT (PA) RENT (PSF) ERV (PSF) ERV (PA) LTA 1954 ACT COMMENT 8th Floor 8th Atlantic Ship Management Ltd Office 1,093 20/10/ /10/ , , Out Laxbrin Ltd Office /03/ /03/2019-6, , Out MBO 24/04/2017, 24/07/2017, 24/10/2017, 24/01/2018 and each anniversary of those dates until the expiry of the term on 3m notice. Rent deposit held of 1,305. 8th XS Finance Ltd Office /04/ /04/2018-5, , Out MBO 17/04/2017 on 3m notice. 8th 8th Hope not Hate Charitable Trust Office /06/ /05/2019-4, , Out Tune Product Tankers B.V (TPT) Office /10/ /10/ , , Rent deposit held of 1,350. MBO 29/04/2017, 29/01/2017, 29/10/2017, 29/01/2019 and each anniversary of those dates until expiry of the Term. MBO 20/10/2018 on 3m notice. Rent Deposit held of 3, th (South Front/Rear & North Front) The Combined Services Provider Ltd Office 4,988 29/04/ /04/ , , Out MBO 29/04/2017 on 6m notice. 7th (North Wing) Vacant Office 4, ,560-84, Out 12m Rent, Rates and Service Charge Guarantee. 7th (South Wing) CE Facilities Services Ltd Office 4,180 24/01/ /01/ , , Out 24/01/2017 break option exercised. Agreement for lease to UCFB College of Football Business Ltd entered into 24/11/ th (North Front & Rear) CQS Construction Cost Consultants and Project Ltd Office 3,080 21/10/ /03/ /10/ , , Out Part 5th and 6th (South & Part North) 5th (North) FH Bertling Limited Office 10,266 24/06/ /06/ , , Out Acquire Learning UK Ltd Office 3,470 08/09/ /09/ , , Out Premises demised over two separate coterminous leases. Rent Deposit held of 15,615. TBO on 01/06/2017 on 6m notice. 4th (North Wing) Vacant Office 4, , , Out 12m Rent, Rates and Service Charge Guarantee. 4th (South Wing) The Shaw Trust Ltd Office 4,000 24/06/ /03/ , , Out 3rd (North Wing) Landau Morley LLP Office 4,422 13/04/ /04/ /04/ , , Out TBO on 12/04/2020 on 6m notice. 3rd (South Rear) 3rd (South Front) Velocity 1 Ltd Office 2,104 02/11/ /11/ , Out Wembley Park Ltd Office 1, , , Out Holding over. New lease being put in place for 9 years with rolling break after year 1 on 1m notice. 20psf lease back for 9 years with 3m rolling breaks after year 3. 2nd (Whole) Vacant Office 8, ,700 20,00 167, Out 12m Rent, Rates and Service Charge Guarantee. 1st (South Wing) Community Systems (North London) Limited Office 2,766 19/10/ /10/ , , Out TBO on 19/10/2019 on 6m notice. Rent Deposit held of 24, st Quintain LDO (General Partner) Ltd Office 4, , , Out 20psf lease back for 9 years with 3m rolling breaks after year 3. TOTAL 114,695 1,816, ,350,

17 REFURBISHMENT/ REDEVELOPMENT ASSET MANAGEMENT UNDERTAKE A ROLLING REFURBISHMENT TO CAPTURE STRONG OFFICE DEMAND AND PREDICTED FUTURE RENTAL GROWTH IN AN AREA WITNESSING EXTREMELY LOW SUPPLY. FUTURE DEVELOPMENT/REDEVELOPMENT POTENTIAL, SUBJECT TO PLANNING AND FREEHOLDER S CONSENT. ALL LEASES ARE CONTRACTED OUTSIDE THE LTA 1954, PROVIDING CONTROL OF THE OFFICE ACCOMMODATION UPON LEASE EXPIRIES. PLANNING PLANNING APPLICATION TO BE SUBMITTED TO BRENT COUNCIL BY THE FREEHOLDER. THE APPLICATION INCLUDES REPOSITIONING THE BUILDING S RECEPTION WHICH CURRENTLY FRONTS EMPIRE WAY TO FRONT THE LONDON DESIGNER OUTLET. ALL ASSOCIATED COSTS WILL BE MET BY THE FREEHOLDER. YORK HOUSE WAITING LOUNGE

18 MARKET COMMENTARY INVESTMENT Despite Britain s decision due to leave the European Union, the UK continues to see strong investment demand due to the positive currency swing, the transparent and competitive market, established legal system, excellent growth prospects and attractive income yields in comparison to other asset classes. Wembley currently has a constrained office supply due to many buildings in recent years having either been demolished to make way for new developments or converted to residential though the application of permitted development rights. Combined with large scale regeneration and the continually improving transport infrastructure Wembley is experiencing both rental growth and yield compression. Quintain has completed Phase I of the Wembley Park transformation project, with Phase II scheduled to start in H To date, 1.8 million sq ft of construction has completed, with a further 6 million sq ft in the pipeline. OCCUPATIONAL Demand for prime office space in Greater London and in regional business centres remains robust, with the South East office market witnessing in excess of 1.81m sq ft of take-up during H Wembley appeals to many occupiers as an area in which to relocate their businesses, mainly because of its excellent connectivity to central London and comparative affordability. Prime rents for Grade A office space is now approaching 40 per sq ft in comparison to refurbished Grade B accommodation which currently stands at approximately 20 per sq ft. With an expanding retail offering, and Wembley s attractiveness as a residential address, there is likely to be heightened tenant demand in the area leading to further rental growth. Below we set out some recent nearby leasing transactions: Below we set out some recent nearby investment transactions: ADDRESS TENURE AREA PRICE NIY CAPITAL DATE COMMENTS (sq ft) VALUE (psf) 1 Olympic Way FH 110,787 35,500, % 320 Q PD consent Wembley, HA9 obtained for 227 apartments Mahatma Gandhi FH c. 18,5000,000 Q Planning permission House, obtained for Wembley Hill residential units Road, HA9 Mahatma Gandhi FH 42,844 9,875, Q Majority vacant 34 Wembley Hill offices without Road, HA9 planning Olympic Office FH 66,287 15,400, % Q Short income with Centre, 8 Fulton development Road, HA9 potential UNIT DATE TENANT AREA RENTAL RENT (sq ft) (pa) (psf) 10th Floor Q Powerleague 4,229 76, York House, Fives Ltd Empire Way, HA9 15th Floor Q Ehouse Ltd 2,824 51, York House Empire Way, HA9 1st Floor Q Confidential , High Road Wembley, HA9 2nd Floor Q MiHomecare , Wembley Hill Road, HA9

19 EPC York House has an EPC rating of D (92). VAT The property is elected for VAT and it is proposed that the sale will be structured as a TOGC. CAPITAL ALLOWANCES No capital allowances are available. PROPOSAL Offers in excess of 28,000,000 reflecting a net initial yield of 6.07%, a revisionary yield of 7.86% and a capital value of only 244 per sq ft, (assuming purchaser s costs of 6.80%) for the benefit of a new 250 year long leasehold interest. FURTHER INFORMATION For further information or to arrange an inspection, please contact: MARK SHIPMAN markshipman@michaelelliott.co.uk NATHAN SUGAR nathansugar@michaelelliott.co.uk RICHARD CARTER richardcarter@michaelelliott.co.uk Misrepresentations Act 1967 & Declaration: Michael Elliott for themselves and for the vendors of this property whose agents they are given notice that: a) the particulars are set out as general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract; b) 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 purchaser should not rely on them as statements or representations of fact but should satisfy themselves by inspection or otherwise as to the correctness of each of them; c) no person in the employment of Michael Elliott has any authority to make or give any representations or warranty whatever in relation to this property. siren sirendesign.co.uk S08421 January 2017

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