TalismanHouse BOARDMANS WAY WHITEHILLS BUSINESS PARK FYLDE | FY4 5FY

LONG LET OFFICE INVESTMENT Talisman House

INVESTMENT SUMMARY

• Let to Hargreave Hale Limited (D&B 3A1) on a 20 year lease from 6 June 2016 with a break in the 15th year.

• Five yearly rent reviews to the greater of open market rent or annually compounded open RPI.

• Located on the established Whitehills Business Park with nearby occupiers including DWP, National Savings & Investments and NST Travel Group.

• Comprises a new build, detached, high specification office building totalling 21,280 sq ft over ground and three upper floors.

• Rent passing of £297,920 per annum reflecting £14.00 per sq ft.

• Seeking offers of £3,975,000 (Three Million, Nine Hundred and Seventy Five Thousand Pounds), exclusive of VAT and subject to contract. A purchase at this level reflects a net initial yield of 7.04% and a low capital value of £186.80 per sq ft, after allowing for purchasers costs of 6.54%.

• Running yield based on 2.95%* RPI per annum rises to 8.29% in 2021, 9.59% in 2026 and 11.09% in 2031.

*Based on a 5 yearly average forecast by Experian. 21,280 sq ft A59 A65 A1(M) A682 Harrogate A65 A59

Talisman A56 M6 A658

A59 A61 House A629 A682 A58 A6068

A658 A64 A585 M65 M55 A59 Leeds A1(M) A680 Bradford Burnley A63 M6 M1 A583 A677 M621 Preston Blackburn A629 M62 M65 A646 M62 A59 M65 A646 Halifax

LOCATION M6 M62 Wakefield

A6033 A59 A666 Whitehills is located on Coast in the North West of England. It is situated approximately 50 miles M66 A570 A629 M61 M62 north west of , 45 miles north of and 15 miles west of Preston. Rochdale M1 Bolton A627(M) Barnsley A628 M58 M60 M6 The Fylde Coast is made up of three authorities; Whitehills has excellent road communications situated A59 M58 A56 A629 A5728 A628 Blackpool, Fylde and Wyre and has a resident next to Junction 4 of the M55 Motorway, providing direct A616 A58 A580 Manchester M60 access to the M6 and the wider regional and national population of approximately 340,000 people, with M57 M60 M62 A34 approximately 10 million people within a two-hour drive. motorway network. Blackpool North train station A57 Liverpool A57 A61 M62 The Fylde Coast is also a popular tourist destination, provides a direct service to Manchester (1 hour 15 A557 Sheffield A561 A5300 M56 A6 M6 attracting more than 13 million leisure visitors annually. minutes), Liverpool (1 hour 25 minutes) and Preston M53 M56

(25 minutes). A49 Almost eight thousand companies are represented in Blackpool and Fylde including those in food production, The Port of Fleetwood is situated nearby on the edge Buxton nuclear power and environmental technologies, of Morecambe Bay with over 800m of quay frontage Ashworth Rd Chesterfield aerospace, financial services and the hospitality and available, including a ro-ro berth capable of a 180 leisure sector. Some of these include BAE Systems, tonnes loading capacity. A5230 M55 Westinghouse Electric, Tangerine Confectionery, J4 Mansfield Fox’s Biscuits, Hewlett Packard and AXA. Chapel Rd Newark-on-Trent

A5230

Preston New Rd

Brooklands Way

Boardmans Way A5230 Hallam Way B5410 A583 Bambers Ln Whitehill Rd Cropper Rd Graceways

Peel Rd Talisman House

BLACKPOOL SITUATION

The Whitehills area extends to 714 acres (289 ha) and is home to over 100 companies including The Department for Work and Pensions, National Savings & Investments, New HQ WHYNDYKE A5230 Mixed use development NST Travel Group and Glasdon. It comprises Clifton Retail Park A5230 a range of established and newly developed units, extending to over 2.5m sq ft of office, retail and industrial space. M55 J4 Talisman House is on Whitehills Business Park, which is immediately adjacent to J4 of the M55, Mixed use development TO M6 approximately 4 miles south east of Blackpool J32 town centre and 3 miles north east of . Because of its strategic location, Preston New Rd Whitehills Business Park offers one of the BOARDMANS WAY best business locations in Fylde.

A B&Q superstore and a Premier Inn hotel are HALLAM WAY PROPOSED located at the entrance of Whitehills Business Park, along with a cluster of car showrooms to include BMW, Honda and Arnold Clark. GRACEWAYS There are also a number of new residential HALLAM WAY B5410 developments set to deliver over 3,000 homes, including schemes by Redrow and Wainhomes.

Talisman House is situated at the heart of the business park with surrounding occupiers including Ameon, James Brearley & Sons, Napthens Solicitors along with a number LYTHAM ST ANNES of other professional and financial practices. Talisman House

DESCRIPTION ACCOMMODATION

Talisman House comprises a new build, high The property provides the following net internal specification, detached office building which floor areas: was completed in June 2016. Floor Sq m Sq ft The building is of steel portal frame construction with brick and part clad elevations. The building Ground 524 5,640 has a glazed entrance and lobby area including a ROOF PLANT AREA First 529 5,694 reception and feature staircase. Air-conditioning Brew Stairs

Stairs Brew units are housed in a recessed plant area on Second Brew 523 5,630 the roof. Brew Third + Store 401 4,316 There is a block paved surface car park for 61 Female Male Female

vehicles providing a good ratio of 1:349 sq ft. Total Disabled 1,977 21,280 Stairs Male

Disabled Stairs The internal specification includes: FIRST FLOOR PLAN THIRD FLOOR PLAN • Full access raised floors

Brew Stairs

• Suspended ceilings incorporating T5 Brew Stairs Canteen recessed lighting with presence detection Canteen and daylight dimming Female

• Full air-conditioning via ducted VRF system FemaleMale Stairs

Male • Two passenger lifts Stairs Stairs

Brew Stairs • Male, female and disabled WCs on each floor Stairs GROUND FLOOR PLAN Brew SECOND FLOOR PLAN Brew plus shower/changing facility Brew Stairs

Brew Stairs Brew Brew

• Kitchen/break out areas to each floor Brew

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Male

Female Disabled Stairs

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Disabled Stairs Dis

Stairs

Stairs Brew Stairs

Brew Stairs Canteen

Brew Stairs

Canteen

Canteen Female

Male Female Stairs

Female Male Stairs

Male Stairs Stairs

Stairs

Brew Stairs

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Stairs Talisman House

SITE PLAN

HALLAM WAY

BOARDMANS WAY

OLYMPIC COURT

BARROW CLOSE Talisman House

TENURE COVENANT INFORMATION VAT CONTACT

The property is Freehold. Hargreave Hale Limited is an investment manager that The property is elected for VAT and it is envisaged Ben Roberts currently has over £6bn of assets under management. that the sale will be treated as a Transfer of Going [email protected] In April this year it was named 20th place in the Sunday Concern (TOGC). 0161 242 8002 Times BDO Profit Track 100 league table.

The firm has been based in the Blackpool area for Scott Gemmell 0161 228 6411 www.lsh.co.uk 100 years and until the move to Talisman House, had EPC [email protected] operated from a number of offices. The move allows 0161 242 8001 administration and IT functions along with the front The property has an Energy Performance Rating of B 35. office investment team to be housed under one roof. Lawrence Vaughan [email protected] Hargreave Hale has a D&B rating of 3A1 and has PROPOSAL recorded the following accounts: 0161 242 7077

We are seeking offers of £3,975,000 (Three Million, 31/03/2016 31/03/2015 31/03/2014 Nine Hundred and Seventy Five Thousand Pounds), subject to contract and exclusive of VAT. © Lambert Smith Hampton Turnover (000’s) 39,867 34,604 30,294 Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries and their joint agents if any (“LSH”) for themselves and for the seller or landlord of the property whose Pre-tax profit A purchase at this level would reflect a net initial yield agents they are give notice that: (i) These particulars are given and any statement about 4,355 4,618 4,718 the property is made without responsibility on the part of LSH or the seller or landlord (000’s) of 7.04%, a capital value of £186.80 per sq ft and the and do not constitute the whole or any part of an offer or contract. (ii) Any description, following potential running yield profiles (on the basis dimension, distance or area given or any reference made to condition, working order Net worth (000’s) 13,217 13,758 12,863 or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or of purchaser’s costs at 6.54%): statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided Running Yield Based Running Yield Based shall not be relied on as statements or representations of fact or at all and any prospective Year buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of TENANCY on 2.95%* RPI on 1.00% RPI all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or 2021 8.29 8.13 enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) The property is let in its entirety to Hargreave Hale 2026 9.59 8.54 Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal Limited for a term of 20 years with effect from 6 June 2031 11.09 8.98 injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these 2016, subject to a tenant option to break on 6 June particulars or any information provided in respect of the property save to the extent that * 2031. The current rent passing is £297,920 per annum, 2.95% RPI is based on a 5 yearly average forecast by Experian. any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any reflecting £14.00 per sq ft. The lease is on a full artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and repairing and insuring basis and the rent is subject to timing concerning availability or occupation and prospective buyers or tenants must take five yearly rent reviews to the greater of open market legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or rent or annually compounded open RPI. discrepancy in connection with such matters. carve-design.co.uk 12472