Part Let Freehold Office Investment Close proximity to St Austell town centre 3,783 sq m (40,724 sq ft) Site Area 3.716 acres incorporating 186 parking spaces 55% of Building let to NHS Producing 118,900 per annum wef 1 January 2016 Potential for alternative uses
50 49 5 INVESTMENT / DEVELOPMENT 5 TREMENA ROAD Town Centre Sedgemoor (Council Offices) The Coach House The Loft 45 43 COACH HOUSE LANE Audiology Centre St John's Location and Situation The picturesque market town of St Austell is the largest town in the County of Cornwall nestling at the intersection of three scenic valleys, Bodmin, Gover and Pentewan. St Austell is located 24 kilometres (15 miles) east of Truro, 32 kilometres (20 miles) south of Newquay and 64 kilometres (40 miles) west of Plymouth. The town is well connected to the national road network via the A390 and A391 providing access to Truro to the east and Plymouth to the west. The A30 runs approximately 11 kilometres (7 miles) north of the town and is the main arterial route linking Cornwall with the South West. The town benefits from excellent train links with Truro (with regular trains every 30 minutes and a fastest journey time of approximately 15 minutes), Plymouth (with trains every hour) and First Great Western services providing links with Exeter and Bristol to the north east. A number of airports are within easy reach of St Austell, including Newquay Cornwall Airport and Plymouth Airport, with daily flights to London Gatwick, Manchester, Bristol and Glasgow. The land use in the immediate area is mixed, with St John s Methodist Chapel, an audiology centre, a public car park, a bowling alley, and residential housing nearby. Fore Street and the White River Shopping Centre, which constitute the town s retail centre, is situated only 200 metres to the south.
Description is a detached building which was constructed in the early 1980 s for Cornwall Council and was subsequently extended (east wing) in the mid-1990s. Part of the property was refurbished in circa 2005 when the building was converted for office use by (the then) Central Cornwall Primary Care Trust. The accommodation measures 3,783 sq m (40,724 sq ft) overall and is arranged over ground, mezzanine (west wing only), first and second floors, with ancillary space and services in the lower ground floor. The building is located towards the northern end of an L shaped site which extends to circa 3.716 acres and slopes downwards in a south westerly direction. The majority of the site is surfaced with tarmac and provides 186 marked car parking spaces giving a parking ratio of one space per 222 sq ft. The car parks are surrounded by/interspersed with areas of soft landscaping with mature shrubs and trees.
LEVEL 1 LEVEL 2 LEVEL 3 LEVEL 4 Accommodation has been occupied by Cornwall Council and the NHS who have agreed terms to renew their lease. Once the NHS letting is completed the property will comprise: Level NHS Vacant TOTAL 2 10,776 4,134 14,910 3 4,850 7,114 11,964 3 (mezz) 2,560 0 2,560 4 4,467 6,823 11,290 Total 22,653 18,071 40,724 % 55.63 44.37 100.00 Tenancy The NHS are holding over on a short term lease to 31 December 2015 at a rent of 240,456 per annum. Terms have been agreed to grant a contributory repairing new lease to NHS Property Services Ltd for a 5 year term from 1 January 2016 on a contracted out basis at an annual rent of 118,900 per annum with a mutual break option at 30 September 2018 on 12 months notice Covenant Status NHS Property Services manages, maintains and improves 3,500 properties, working with NHS organisations to create safe, efficient, sustainable and modern healthcare and working environments. They are a limited company set up in April 2013, wholly owned by the Secretary of State for Health. The latest accounts ending 31/03/2014 reported a Net Worth of over 3bn, reflecting an undoubted covenant strength. More information is available on request.
Terms The freehold of the site is available for sale freehold. Alternatively the vacant space will be available to let. For further information contact the Agents VAT Applicable to the sale. Rates The building is currently assessed as one hereditament with a Rateable Value of 470,000 ( 2010 list ). EPC The building currently has a DEC rating of D97. For further information contact: Andrew Pearce 01392 429302 andrew.pearce@eu.jll.com Simon Bennett 0117 930 5717 Simon.j.bennett@eu.jll.com Mark Stanton 0117 930 5774 mark.stanton@eu.jll.com Misrepresentation Act: The particulars in this brochure have been produced in good faith, are set out as a general guide and do not constitute the whole or part of any contract. All liability, in negligence or otherwise, arising from the use of the particulars is hereby excluded.