FOR SALE MODERN B1 OFFICE INVESTMENT

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1 FOR SALE MODERN B1 OFFICE INVESTMENT Situated on Leeds Premier Business Park High specification semi-detached building Part let to Hansteen Ltd. The ground floor is vacant Producing a rent of 13,225 pax Price 369,500 STC Low capital value per sq ft UNIT 6 PENTAGON PARK APPROACH THORPE PARK LEEDS LS15 8GB

2 Unit 6, Thorpe Park, Leeds LS15 8GB LOCATION Thorpe Park is one of the most prominent Business Parks in the north of England. Located at Junction 46 of the M1 motorway, approximately 6 miles east of Leeds city centre, quick and easy access to the M1/A1 and M62 motorways is immediately available as well as excellent communications with Leeds city centre. The park has on-site amenities including a 4* Hotel & Spa, plus restaurants and a sandwich shop. Greggs and Franco s are less than a 2 minute walk from the property. The next phase of development at Thorpe Park will include shopping and leisure facilities close by Pentagon 2, and the ground works for this phase have now begun. Planning consent has also recently been approved for 300 homes to be built just to the north of the shopping and leisure phase. DESCRIPTION The property comprises a modern self-contained semi-detached office building providing good quality office accommodation within a development of seven similar buildings, known as Pentagon 2. The accommodation is arranged over ground and first floors providing open plan office accommodation with the following specification:- Full access raised floors Suspended ceilings throughout Modern compliant lighting Passenger lift Carpeting throughout Male & female WC s on each floor Disabled access and facilities Double glazed windows Gas central heating Door entry system Security alarm and on-site CCTV 12 car parking spaces ACCOMMODATION The property provides the following net internal floor areas: Floor Sq ft Sq m Ground 1, First 1, Total 3,

3 Unit 6, Thorpe Park, Leeds LS15 8GB TENURE 999 years from 1 January 2000 at a peppercorn. TENANCY The first floor is let to Hansteen Ltd on a 5 year full repairing & insuring lease from 16 December 2013 at a rent of 13,225 pa. The lease contains a review provision at the end of the third year with the rent increasing to 15,870 pa or open market rent whichever is the higher. The lease also contains a tenant s break clause at the end of the third year. The ground floor is currently vacant and is offered with vacant possession with an ERV of 18,000 pax ( per sq ft). RATEABLE VALUE The property is assessed as follows: Description Rateable Value Ground Floor 23,000 First Floor 47,750 COVENANT INFORMATION Hansteen Ltd is part of Hansteen Holdings Plc, a UK and Continental European Investment Company which invests principally in industrial properties across the UK, Germany, Benelux and France. The company is quoted on the AIM Market. In their latest accounts for the year ended 31 December 2013 Hansteen Ltd reported a turnover of M, pre-tax loss of 2.39M and total net worth of 892,441. For the year previously the respective figures were a turnover of M, pre-tax profit of 848,000 and total net worth of 3.441M. PRICE We are instructed to seek offers in the region of 369,500 subject to contract which equates to only 120 per sq ft. ENERGY PERFORMANCE CERTIFICATE (EPC) The property has an energy performance asset rating of band D (77). Further information can be provided on request. VAT We understand that the property is elected for VAT purposes and therefore VAT will be payable on the purchase price.

4 Unit 6, Thorpe Park, Leeds LS15 8GB AGENTS NOTE The adjoining semi-detached office building is also available for sale. This is a fully let and income producing building. Further details are available from the sole agents. FURTHER INFORMATION / VIEWING Please contact David Towler / Hazel Cooper Tel: davidtowler@cartertowler.co.uk hazelcooper@cartertowler.co.uk Details Prepared February 2015 (REF: CDT. HC.CM.14507)

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