MODERN SINGLE-LET REGIONAL OFFICE INVESTMENT APEX HOUSE TURNER DRIVE, BADMINTON ROAD INDUSTRIAL ESTATE, YATE, BRISTOL BS37 5YX INVESTMENT SUMMARY

• Opportunity to acquire a modern, single-let office • Building let to Computerworld (Training) Ltd until May investment just outside Bristol, on the prominent 2025, providing 5.49 years unexpired income at a rent of Offer invited in excess of£975,000 Badminton Road Trading Estate. £85,000 per annum equating to approximately £9.98 psf. (Nine Hundred and Seventy-Five • Two-storey detached office building on a site of • The tenant is not exercising their upcoming break option, Thousand Pounds) reflecting anet initial approximately 1.24 acres. which demonstrates their commitment to the property. yield of 8.25% and a capital value of just • There is an upcoming, upwards only, rent review (4th May • The property is held Freehold. 2020) which provides an opportunity to benefit from the £130 per sq ft. reversionary potential.

APEX HOUSE MODERN SINGLE-LET REGIONAL OFFICE INVESTMENT APEX HOUSE, TURNER DRIVE, BADMINTON ROAD INDUSTRIAL ESTATE, YATE, BRISTOL BS37 5YX Alcester Worcester Stratford Builth Wells upon Avon Towcester M5 Evesham Banbury Brackley

Tewkesbury Brecon M50 Chipping Norton M40 Ross-on-Wye GLOUCESTERSHIRE CHELTENHAM GLOUCESTER

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Avonmouth M4 LYNEHAM LOCATION CARDIFF M32 M5 M4 Reading Calne Bristol is the 5th largest city in the UK and is the regional capital of the south west of England. It has a BRISTOL Marlborough population of 463,400 and was recently voted the “Best city to live in Britain 2017” by the Sunday Times. BRISTOL BATH The city is 105 miles west of London and 17 miles north west of Bath. Weston- super-Mare BristolKingscle is homere to two leading UK universities accounting for a student population of 54,000, contributing to nearly 50% of the local population educated to degree level, 20% higher than the national average. Cheddar Basingstoke Westbury Yate is a post town of Bristol, located 10 miles northeast of the City Centre. The town has a population of Whitchucircarch 28,000 and serves as a commuter town for Bristol. M5 Shepton Mallet Amesbury M3 Glastonbury New Alresford Wilton

ROAD Shaftesbury RAIL AIR Wellington Eastleigh Bristol has good access to national road services, Bristol Temple Meads railway station is the Bristol International Airport is used by more than

most notably the M4 and the M5. The M5 is largest rail hub in the M27west of England with direct 8.6 million passengers each year, in accessing located 7 miles to the north of the city centre and services available from London, Scotland, Wales, 125+ destinations. In December 2018 Bristol SOUTHAMPTON allows for direct access to Birmingham (75 miles Manchester and Birmingham. Network Rail Airport submitted a planning application seeking to the north east) and Exeter (65 miles to the south west). has large development plans to increaseFareha them capacity of its permission to increase capacity to handle up to 12 million Brockenhurst Crediton Honiton The M4 allows for easy access to London, which is 105 miles services; currently around 10 million passengers pass through passengers a year by the mid-2020s. M5 Gosport to the east of Bristol as well as providing access to the M25 in the station each year. Portsmouth less than 2 hours Bristol Parkway is located to the north of the city. Services run from Birmingham, Cardiff, Gloucester and London.

APEX HOUSE MODERN SINGLE-LET REGIONAL OFFICE INVESTMENT APEX HOUSE, TURNER DRIVE, BADMINTON ROAD INDUSTRIAL ESTATE, YATE, BRISTOL BS37 5YX Frogland Cross SITUATION

Woodlands Golf & Country Club TheChipping subject Sodbury property is strategically located less than 4 miles northTown Football east Club of junction 19 of the M4 and 5 miles east of junction Yate A432 15 of the M5. The A432 allows for quick access to Bristol. Yate APEX HOUSE train station is on the main Bristol to Birmingham line and allows for access to Bristol in 9 minutes. The subject property is located on Badminton Road Trading M4 A432 Bradley NIBLEY LANE Estate, less than a mile to the west of Yate town centre. There are Stoke Watley’s End A432 several national and regional-level occupiers in close proximity such as Screwfix, Howdens, B&Q, Halfords, Lidl and Tesco. The wider estate also contains Westerleigh Business Park, which contains further offices on the estate with occupiers such as Royal Mail Group, Rail Road Cranes Limited and Newey & Eyre. The subject property is thus one of the few dedicated office buildings on the estate. A432 The Players Golf Club Henfield W A L 1 K The Kendleshire E R Golf Club C C U L L O V S E E Wapley R T A V E Harry Stoke N U E

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APEX HOUSE MODERN SINGLE-LET REGIONAL OFFICE INVESTMENT APEX HOUSE, TURNER DRIVE, BADMINTON ROAD INDUSTRIAL ESTATE, YATE, BRISTOL BS37 5YX TENANCY INFORMATION

The property is let on an FRI basis in its entirety to Computerworld (Training) Ltd from 04 May 2010 to 03 May 2025 at a current rent of £85,000 per annum (£9.98 psf). The lease benefits from an upwards only open market rent review on 04 May 2020. The tenant had the option to break on 04 May 2015 and 04 May 2020, by giving the landlord no less than 9 months’ notice. The tenant has not served notice on the upcoming break, indicating commitment to remain in the property. Computerworld (Training) Ltd is a provider of expert business IT solutions, consultation, training and support. Apex House currently serves as their head office. The company has been given a risk rating of 2 by Dun & Bradstreet, indicating a high likelihood of continued DESCRIPTION & ACCOMMODATION operations. A summary of the company’s financial accounts is presented below: Year to Date Turnover (£) Pre-Tax Profit (£) Tangible Net Worth (£) Apex House was constructed in 2003 and comprises predominantly a mixture of open-plan office accommodation, conference rooms and training rooms of 8,516 sq ft arranged over ground and first 31/12/2017 86,013 (120) 49,004 floor. There is generous parking with 58 spaces, providing a parking ratio of 1:147 sq ft. The building is 31/12/2016 182,003 (1,725) 49,124 organised on a multiple wing basis with a reception at the front, which lends itself to a multi-let layout in the future should it be necessary. 31/12/2015 568,901 (56,063) 200,251 The general office specification is as follows: Computerworld (Training) Ltd is a subsidiary of Computerworld Holdings Limited. A • Mixture of open plan, cellular offices and • Men’s and ladies’ toilets on ground and first summary of the parent company’s financial accounts is presented below: conference/meeting rooms floor • Perimeter gas central heating • Disabled toilets on the ground floor Year to Date Turnover (£) Pre-Tax Profit (£) Tangible Net Worth (£) • Mixture of variable air volume and fixed air • Shower facilities 31/12/2017 14,534,261 407,726 795,036 conditioning systems • Sizeable outdoor patio (circa 2,100 sq ft). 31/12/2016 12,388,746 188,320 579,256 • Double glazing 31/12/2015 12,948,589 130,378 550,354 • Raised floors Area (sq ft) Area (sq m) • Single width, 630kg 8-person passenger lift Ground Floor 4,371 406 • Mixture of spotlighting and suspended TENURE acoustic tiled ceilings First Floor 4,144 385 • 2.4m floor to ceiling height TOTAL 8,516 791 The property is held freehold (title number GR238226).

APEX HOUSE MODERN SINGLE-LET REGIONAL OFFICE INVESTMENT APEX HOUSE, TURNER DRIVE, BADMINTON ROAD INDUSTRIAL ESTATE, YATE, BRISTOL BS37 5YX Yate is a post town of Bristol, located 10 miles northeast of the City Centre. The town has a population of circa 28,000 and serves as a commuter town for Bristol

EPC PROPOSAL CONTACT

A new EPC has been commissioned and will be provided We are instructed to seek offers in excess of£975,000 For further information or to arrange an inspection of the property, please contact: to interested parties upon request (Nine Hundred and Seventy-Five Thousand Pounds), JACK STACEY ROSANNA BROWN subject to contract and exclusive of VAT. Assuming a net T: 020 3214 1967 T: 0117 943 5784 rent of £85,000 , a purchase at this level would reflect VAT M: 078 2586 0099 M: 079 2050 1860 the below yield profile, after allowing for purchaser’s E: [email protected] E: [email protected] costs of 5.72%. We understand that the property has been elected LUKE STEYN Net Initial Yield 8.25% for VAT. As such, it is intended that the sale will be T: 020 7182 8470 structured as a Transfer of Going Concern (TOGC). Capital Value £130 psf M: 077 1775 7888 E: [email protected]

CBRE for themselves and for the vendors or lessors of the property whose agents they are give notice that: (i) these particulars are given without responsibility of CBRE or the vendors or lessors as a general outline only for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract; (ii) CBRE cannot guarantee the accuracy of any descriptions, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and any prospective purchaser or tenant should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the accuracy of each of them; (iii) no employee of CBRE (and their joint agents where applicable) has any authority to make or give any representation or warranty or enter into any contract whatsoever in relation to the property; (iv) VAT may be payable on purchase price and/or rent, all figures are quoted MODERN SINGLE-LET REGIONAL OFFICE INVESTMENT exclusive of VAT, intending purchasers or lessees must satisfy themselves as to the applicable VAT position, if necessary by taking appropriate professional advice; (v) except in respect of death or personal injury caused by the negligence of CBRE, its employees or servants, CBRE will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars save to the extent that any statement made in these particulars has been made fraudulently. January 2020. Designed and produced by Creativeworld Tel: 01282 858200.