FREEHOLD / LEASEHOLD OPPORTUNITY STRATEGIC QUAY SIDE LOCATION MALTHOUSE LANE, GORLESTON, GREAT YARMOUTH NR31 0GY CONTACT US. Site area - 4.
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1 FREEHOLD / LEASEHOLD OPPORTUNITY STRATEGIC QUAY SIDE LOCATION CONTACT US Strictly by prior appointment with Colliers International through: Chris Monkhouse Waste, Energy & Minerals Natural Resources chris.monkhouse@colliers.com MALTHOUSE LANE, GORLESTON, GREAT YARMOUTH NR31 0GY Site area acres Grace Bergin Waste, Energy & Minerals Natural Resources grace.bergin@colliers.com Property Ref: Quay side location - approximately 200 metre of quay heading with no height restrictions and 5 to 8 metre draft (low to high tide) Access to rapidly expanding North Sea energy market Development opportunities with access to government funding and simplified planning Colliers International 50 George Street London W1U 7GA
2 LOCATION The site is located in Great Yarmouth and occupies a prominent quay side location heading the River Yare as denoted by the red circle on the attached plan. South Denes Port and the deep water harbour is a short distance away. The North Sea facing Great Yarmouth is a major player in off shore energy generation including Scroby Sands, Dudgeon, East Anglia Array and the proposed East Anglia One, Two and Three. ACCESS From the A12 south take the first exit at the roundabout to William Adams Way. From William Adams Way take the third exit left onto Malthouse Lane. The site is located a short distance on the right and left of Malthouse Lane. DESCRIPTION The site is split into two areas: East Site, Gashouse Quay, Malthouse Lane, Gorleston, Great Yarmouth NR31 OHL The eastern plot is approximately 2.5 acres. The site comprises: A two bay industrial unit of steel portal frame construction with part block and part cement sheet elevations. The unit has two large shutter doors at each end with ramped access to the north. It is serviced by a 3 phase power supply with sodium power and fluorescent lighting and benefits from two gantry cranes, one 2 x 5 tonne and one 2 x 10 tonne, Three porta cabins providing ancillary and welfare provisions with mains servicing, One newly constructed Nissan style materials store,
3 One newly constructed materials workshop, One large reinforced concrete pad measuring 60 x 48 meters with a loading capacity of 2,000 tonnes previously used for the construction of offshore modules and ACCOMMODATION East Site, Gashouse Quay, Malthouse Lane, Gorleston, Great Yarmouth, NR31 0HL Description Floor Area sq. ft Area sq. m Two additional industrial units for storage and fabrication. West Site, Maltings House, Malthouse Lane, Gorleston, Great Yarmouth NR31 OGY The western plot is approximately 1.52 acres. The site comprises: A two storey pre-fabricated office building. The ground floor provides a mix of cellular and open plan office space and ancillary facilities including kitchens, an IT server room and conference rooms. The reception is located to the south of the building. The first floor provides additional office space including a large open plan area partitioned by glass, perimeter cellular office space, meeting rooms and ancillary facilities. The first floor is accessible by lift or stair. Disabled facilities are provided on the ground floor, Main workshop Ground 23,308 2,165 Materials warehouse Ground 3, Nissan workshop Ground 3, Special materials Ground 1, Subtotal 31,942 2,967 Porta cabin Ground Materials office Ground Subtotal 1, Total 33,305 3,094 Tarmacked car park for approximately 70 vehicles, West Site, Maltings House, Malthouse Lane, Gorleston, Great Yarmouth, NR31 0GY Four porta cabins used for ancillary and welfare purposes and One Nissan style workshop. ENERGY PERFORMANCE CERTIFICATE Maltings House, the office building on the west site has an EPC rating of C. BUSINESS RATES We have searched the VOA website for the current rateable values which are as follows: East Site including the warehouse, two workshops and office space is 88,500. West Site including office, storage building and car park is 57,500. Description Floor Area sq. ft Area sq. m Offices (NIA) Ground 5, Offices (NIA) First 5, Sub total 10,960 1,018 Nissan storage Ground 2, Sub total 13,373 1,242 Porta Cabin Ground 1, Porta Cabin First 1, Toilets Ground 99 9 Lockers Ground First Aid Ground Subtotal 2, TOTAL 16,320 2,533
4 SITE AREA The subject property has an approximate site area 1.66 hectares (4.1 acres). Our understanding of the boundary is shown outlined in red on the below plan and has been computed using the Ordnance Survey Pro-Map system. PLANNING The subject site is covered by the Great Yarmouth Local Plan adopted in December Under the plan the site has been designated as a safeguarded employment area (CS6), falling within the Gas House and Malthouse Quay (EMP33). Please note that the site has been identified as a hazardous development area (INF18, INF19). The site has been subject to a number of planning consents. The principle ones have been outlined below in chronological order: Permission No: 06/03/0898/F Planning permission for the siting of porta cabin and construction of link corridor to west of Maltings House, site storage container in the yard was approved as of 28 October Permission No: 06/03/0523/F Planning permission for the erection of an additional porta cabin office space and toilet was approved as of 30 July Permission No: 06/94/0757/F Planning permission for the erection of a single storey porta cabin office and toilet was approved as of 28 October This was renewed as of 20 October 1995 ref: 06/95/0873/F. TENANCY INFORMATION The site is to be sold freehold with vacant possession.
5 QUAY SIDE POSITION The subject site is located on the River Yare with an extensive quay side heading of approximately 200 metres together with a 5 metre draft and no height restrictions. This provides direct access to the North Sea via the harbour and could be used to facilitate operation within the North Sea Energy Market. ENERGY MARKET Strong energy market participation The subject site occupies a prominent position to serve the Norfolk and Suffolk energy market which is expected to attract over 50 billion of investment over the next 10 years comprising 6,200 companies, 105,000 employees and worth 13 billion per annum. We have identified the existing and future participation in the energy market which the subject site could serve to include: Upstream oil and gas: platforms and fields, North Sea Energy The subject site has the opportunity to operate in an extensive and growing market as investment is set to grow rapidly in renewable energy. Scroby Sands: Comprises 30 turbines with a total capacity of 60 MW. The turbines are serviced from Great Yarmouth. East Anglia One: A 2.5 billion development to include 102 turbines with a total capacity of 714 MW. Great Yarmouth has been identified as the construction/ servicing point of the new turbines. Existing occupiers Adjacent to the site are a number of large and small energy operators to include: Hydra Rig, SMS, Pentagon Freight, Nexus, Diesal Power (EA) ltd, Electro Tec, Magma Products, CEBO, STS Defence, Elmdale Welding Suppliers and John Maclean and Sons. Decommissioning schemes: 10 + offshore gas platforms, Wind: 24 + offshore farms. Guaranteed support New Anglia and the Norfolk and Suffolk Energy Alliance (NSEA) were formed to promote and manage investment in energy. The site is located within the South Denes Energy Park and benefits from Simplified Planning which enables planning permission to be obtained quickly and easily for an energy related use. Injections into the economy The recovery of the economy is anticipated to accelerate following: The development of the outer harbour deep sea port run by Peel Ports. The recovery of whole sale oil prices with continued growth. The arrival of East Anglia 1 in 2017, East Anglia 2 in 2020 and East Anglia 3 in 2025.
6 DEVELOPMENT OPPORTUNTIES KEY CONSIDERATIONS There are a number of development opportunities to enhance the value of the site and operational efficiency. The closure of Malthouse Lane, removing the divide between the two properties would enhance the sites area and value. Approval has already been attained. Government funding is available providing for 90% of costs for the installation of pontoons to maximise the sites quay side position. Enhancement to the office building through refurbishment to enhance rental income and capital value. It also offers the opportunity to reduce energy costs by maximising energy efficiency. In the event of a down turn in the commercial sector the site could accommodate residential development, subject to planning consent. A neighbouring property has just been given permission for 48 houses. An option exists to purchase an additional area of land to the south of the West Site. Freehold purchase or leasehold agreement Quay side location Option to purchase additional land Option to divert Malthouse Lane Vacant possession Simplified Planning Zone Direct access to North Sea including the deep water outer harbour Rapidly expanding energy sector Government investment/support
7 VAT The property is not elected for VAT. LEGALS Each party is to bear their own legal costs PROPOSAL Offers on application for freehold, consideration would be given to a lease agreement. For further information, please contact: Chris Monkhouse Direct: Mobile: chris.monkhouse@colliers.com Grace Bergin Direct: Mobile: grace.bergin@colliers.com Misrepresentation Act Colliers International gives notice that these particulars are set out as a general outline only for the guidance of intending Purchasers or Lessees and do not constitute any part of an offer or contract. Details are given without any responsibility and any intending Purchasers, Lessees or Third Party should not rely on them as statements or representations of fact, but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of Colliers International has any authority to make any representation or warranty whatsoever in relation to this property. 05/11/2013 Colliers International is the licensed trading name of Colliers International Property Advisers UK LLP which is a limited liability partnership registered in England and Wales with registered number OC Our registered office is at 50 George Street, London W1U 7GA.
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