Turnpike House, Tollgate, Chandlers Ford, Eastleigh

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KIER TURNPIKE HOUSE, TOLLGATE, CHANDLERS FORD, EASTLEIGH, SO53 3TG SOUTH COAST MODERN OFFICE INVESTMENT OPPORTUNITY KIER TURNPIKE HOUSE, TOLLGATE, CHANDLERS FORD, EASTLEIGH, SO53 3TG SOUTH COAST MODERN OFFICE INVESTMENT OPPORTUNITY

AGEAS INSURANCE

AVIVA HEALTH UTILITA INSURANCE

ASDA SUPERSTORE

PROPOSED HOTEL B&Q HQ

ALDI

CISCO

PARTRIDGE BMW EMCOR UK SUBJECT PROPERTY

BLAKE MORGAN LLP

RSM KPMG ONE INSURANCE RUND SOLUTION PARTNERSHIP

Site outline for identification purposes only. KIER TURNPIKE HOUSE, TOLLGATE, CHANDLERS FORD, EASTLEIGH, SO53 3TG SOUTH COAST MODERN OFFICE INVESTMENT OPPORTUNITY

INVESTMENT CONSIDERATIONS ■■ Modern office building prominently situated within Tollgate Business Park. ■■ Secure car parking for 55 cars providing an excellent parking ratio ■■ Detached self-contained building providing 8,392 sq ft (779.6 sq m) of 1:153 sq ft ■■ Let on a new 10 year lease (TOB year 5) to the strong covenant ■■ Site area of 0.68 acres (0.28 ha) of Kier Construction Ltd (5A1) ■■ Freehold ■■ Rent Passing of £160,000 pa (£19.07 psf) ■■ We are instructed to seek offers of £2,250,000 (Two Million, Two Hundred ■■ Notable nearby office tenants include KPMG, RSM, Blake Morgan LLP, and Fifty Thousand Pounds) subject to contract and exclusive of VAT. One Insurance Solution, EMCOR, Ageas Insurance, Aviva Health Insurance, This equates to an attractive net initial yield of 6.70% allowing for Utilita as well as B&Q UK Headquarters purchaser’s costs of 6.33%. Cheltenham Luton Cheltenham Oxford Gloucester M0 A1(M) M1

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M25 M11 M8 A M0 NEWPORT KIER TURNPIKE HOUSE, TOLLGATE, CHANDLERS FORD, EASTLEIGH, SO53 3TG SOUTH COAST MODERN OFFICE INVESTMENT OPPORTUNITY A3 London M9 M32 SINDON City M

A36 RISTOL M READIN A Heathrow A35 NER LONDON Bristol ATH A33 M3 A36 A33 OKIN M5 A3 A3 M25 ASINSTOKE A33 A33 GUILDORD M23 A36 ANDOVER Gatwick A33 M3 A3 A A3 A6 A3 A SALISR INCHESTER A33 A36 A3

A35 TOLLATE A

A35 Southampton EOVIL A33 M27 A3 A3(M) SOTHAMPTON A A3 PORTSMOTH CHICHESTER RIHTON d a H o Skys Wood R Bournemouth u r e S r t h s s a Chandlers Ford l e n e h ORTHIN n c o y n in W ay W

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It benefits from being strategically located just south of Junction 13 of the M3 Motorway which provides A v M3 e n u e direct access to Southampton in a journey time of 15 minutes and to London in a journey time of 1 hr 30 d

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5 3 3 A Lakeside Stoneham County Park Golf Course

Southampton 5 Airport Parkway M3 - Junction 13 - 1 mile M27 - Junction 5 - 2 miles Rail 7 M2 Southampton Airport Southampton - 15 minutes Portsmouth - 28 minutes London Waterloo e

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ASSETT A27 Ba ssett Gr een Road KIER TURNPIKE HOUSE, TOLLGATE, CHANDLERS FORD, EASTLEIGH, SO53 3TG SOUTH COAST MODERN OFFICE INVESTMENT OPPORTUNITY

Turnpike House

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1 SITUATION DESCRIPTION 2 Turnpike House is situated in a prominent position on The property was constructed in 1998 and comprises the western side of Tollgate Business Park. Tollgate good quality open plan offices over ground and two Business Park can be accessed from the north by upper floors. The office building sits within a large D A O Junction 13 of the M3 (1 mile), and from the south by rectangular site benefiting from a secure car park R D Junction 5 of the M27 (2 miles). comprising 55 marked car parking spaces providing N LA a ratio of 1:153 sq ft LK El Sub Sta Turnpike House Tollgate Business Park is an established office location A F with numerous occupiers including KPMG, Blake The building benefits from a good specification Morgan LLP, One Insurance Solution, EMCOR, including suspended ceilings with recessed RSM and Rund Partnership amongst many others. fluorescent lighting, air conditioning, raised floors, Adjacent to Tollgate Business Park are many notable 8 person passenger lift and male & female toilets occupiers including Ageas Insurance, Aviva Health on each floor. Insurance, Cisco, an Asda superstore, an Aldi store, Utilita, Partridge Hampshire BMW as well as B&Q UK Headquarter located there.

Stepnell House E 1 to 4 T A G L L O T

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Ordnance Survey © Crown Copyright 2019. All rights reserved. Licence number 100022432. Plotted Scale - 1:757 KIER TURNPIKE HOUSE, TOLLGATE, CHANDLERS FORD, EASTLEIGH, SO53 3TG SOUTH COAST MODERN OFFICE INVESTMENT OPPORTUNITY

ACCOMMODATION The property provides the following approximate net internal areas:

Sq m Sq ft Ground Floor 263.1 2,832 First Floor 258.3 2,780 Second Floor 258.3 2,780 Total 779.6 8,392

SITE AREA 0.68 acres (0.28 ha). KIER TURNPIKE HOUSE, TOLLGATE, CHANDLERS FORD, EASTLEIGH, SO53 3TG SOUTH COAST MODERN OFFICE INVESTMENT OPPORTUNITY

TENANCY The entire property is let to Kier Construction Ltd on a new 10 year full repairing and insuring lease from 25th December 2018 at a current passing rent of £160,000 pa (£19.07 psf). There is an upward only open market rent review on the 5th anniversary of the term and also a tenant’s break option on the 25th December 2023, subject to 9 months notice and a penalty payment of £25,000.

TENURE Freehold.

COVENANT INFORMATION Founded in 1928, Kier Construction Ltd has grown to become the second largest construction contractor in the UK. In 1992 Kier was acquired by Hanson PLC, which then triggered a management buyout at Beazer, leading to the first employee owned major contractor known as Kier Group. Kier then acquired house builders, Twigden PLC, Allison Homes and Bellwinch Homes. The group then diversified into facilities management and buildings management, resulting in floating the company on the London Stock Exchange in 1996. Since floating on the Stock Exchange, Kier has been involved in significant projects including the Channel Tunnel Rail Link bringing the UK’s first high speed railway line into London. Kier also, completed the construction of Hairmyres Hospital in East Kilbride. More recently, Kier have been awarded two major Crossrail contracts, a 15 year contract for repair and maintenance services by Highways England and have signed a deal with Homes England to provide 5,400 homes in the next 10 years. Kier Construction Ltd has a 5A1 D & B rating and have reported the following financial figures over the past 3 years:

30 June 2018 30 June 2017 30 June 2016 Turnover £1,492,065,000 £1,545,144,000 £1,356,386,000 Pre-Tax Profit £82,837,000 £55,075,000 £18,549,000 Net Worth £129,938,000 £100,362,000 £54,547,000 EPC Available in the Dataroom.

VAT We understand the property has been elected for VAT. It is anticipated that the sale will be treated as a Transfer of Going Concern (TOGC).

DATAROOM For Dataroom access please use the following link: https://datarooms.allsop.co.uk/register/kier

PROPOSAL We are instructed to seek offers of £2,250,000 (Two Million, Two Hundred and Fifty Thousand Pounds) subject to contract and exclusive of VAT. This equates to an attractive net initial yield of 6.70% allowing for purchaser’s costs of 6.33%.

For further information or to make arrangements for viewing please contact:

ALLSOP NEILSON PROPERTY CONSULTANTS Ronnie Morgan Jonathan Butcher Simon Neilson 020 7543 6808 020 7543 6755 0797 4949 149 [email protected] [email protected] allsop.co.uk [email protected]

Misrepresentation Act: 1. Allsop LLP and Neilson Property Consultants on its own behalf and on behalf of the instructing party of this portfolio whose agent Allsop and Neilson Property Consultants is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the instructing party does not make or give, and neither Allsop or Neilson Property Consultants nor any of their members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the instructing party are those contained and expressly referred to in the written contract for sale or agreement for lease between the instructing party and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP, Neilson Property Consultants is the trading name of Neilson Property Consultants Ltd. Design: Command D - www.commandHQ.co.uk 03.18