Llys Castan Parc Menai Bangor North Wales. A well let investment opportunity Royal Mail & RSPB Unit 14 Llys Castan Parc Menai Bangor.

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1 Llys Castan Parc Menai Bangor North Wales A well let investment opportunity Royal Mail & RSPB Unit 14 Llys Castan Parc Menai Bangor ForSale

2 Location: Energy Performance Certificate: The historic city of Bangor is located at the north-west tip of Wales and is the gateway city to the Isle of Anglesey and the Snowdonia National Park as well as being a university city and the main regional shopping centre for Gwynedd. Bangor is situated approximately 50 miles to the west of Chester, 10 miles north-west of Caernarfon and 25 miles east of Holyhead. The city provides direct access across the Menai Straights to the Isle of Anglesey and benefits from strong road communications lying on the A55 expressway, which connects the North Wales coastal towns with the M56 to the east. The city has a residential population of approximately 20,000 and attracts shoppers from within the county of Gwynedd (118,000) and residents of the Isle of Anglesey (67,000). Virgin West Coast Rail operates a direct service, via Crewe to London (Euston) with an approximate journey time of 3 hours 25 minutes. A regular ferry service to Dublin is available. Situation: The property forms part of the highly successful and award winning Parc Menai Business Park which is strategically located adjacent to the junction of the A487 (T) with Junction 9 of the A55, approximately 3 miles west of the town centre. The mature park, which extends to over 75 acres, has been developed progressively since the mid 1990 s and has attracted major occupiers including NatWest, NSPCC, Secure Trading, Intec, North Wales Police and Colleg Menai s Arts, Design and Media Centre. Description: The property comprises a two storey detached modern office building of brick construction beneath a pitched roof finished to a high specification including the following. Suspended Ceilings DDA Platform Lift G7 light fittings Air Conditioning Raised floor Opening Double glazing Externally there are 26 designated car parking spaces (1:237 sq ft) all in a landscaped environment Accommodation: The property has the following net internal areas. FLOOR AREAS SQ FT SQ M Unit 14a (Ground) Unit 14b (First) TOTAL Tenure: The property is held long leasehold for a term of 250 years(less 3 days) from the 3rd February 2006 subject to a peppercorn rental. Management Company: A service charge is levied for the maintenance of the estate. The service charge is currently administered by Gladman Estate Management (Gem) Ltd. Service charge budget for period 11/12 is 2, Vat: The property is elected for VAT and VAT will therefore be payable on the purchase price. Providing certain criteria are met the transaction may be treated as a Transfer of a Going Concern

3 Tenancy: Ground Floor The ground floor of the property is let to The Royal Society for the Protection of Birds (RSPB) for a term of 15 years commencing 9th November There is a tenants break option in years 5 and 10 together with corresponding rent reviews. The annual rental is currently 20, p/a rising to 30, p/a from 09th November The lease is drawn up on effective full repairing and insuring terms. First Floor The first floor of the property is let to The Royal Mail Group Ltd for a term of 10 years commencing 14th July There is a Rent Review in year 5. The annual rental is currently 31,270 p/a. The lease is drawn up on effective full repairing and insuring terms. Tenant Details: RSPB is the UK charity working to secure a healthy environment for birds and other wildlife incorporated by Royal Charter on 3rd November For the year ending March 2009 they had an income of over 111million and net assets of over 116 million. Further information on the company can be found on their website at The Royal Mail Group Ltd is the parent company of Royal Mail, Post Office and Parcelforce Worldwide. For the year ending March 2009 they had an income of over 9,560 million and made an operating profit of 321 million. The ultimate parent company is Royal Mail Holdings PLC a public limited company wholly owned by the UK Government. Further information on the company can be found on their website at

4 Proposal: Our clients are seeking offers in excess of 725, subject to contract, which would reflect an attractive net yield of 6.7% after allowing for usual purchasers costs of 5.75%,a reversionary yield of 8% and a equivalent yield of 7.86% This equates to a capital value of per square foot based on the quoted price.

5 Further Information & Viewing: Should you require any further information or wish to view please contact Richard Baddeley. Richard Baddeley & Company Estate Office Awelon Garth Road Glan Conwy LL28 5TD Misrepresentation Act 1967 (Conditions under which particulars are issued) Richard Baddeley & Company for themselves and for the Vendors or Lessors of this property whose Agents they are give notice that: 1. The particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract 2. 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 purchasers or tenants 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. 3. No person in the employment of Richard Baddeley & Company has any authority to make or give any representation or warranty whatever in relation to this property. 4. All maps are for identification purposes only and should not be relied upon for accuracy. 5. Unless otherwise stated, all prices and rentals quoted are exclusive of Value Added Tax to which they may be subject. Finance Act 1989 Unless otherwise stated, all prices and rents are quoted exclusive of VAT. Property Misdescriptions Act 1991 These details are believed to be correct at the time of compilation, but may be subject to subsequent amendment.