ARMSTRONG HOUSE MULTI LET OFFICE INVESTMENT ARMSTRONG HOUSE, FIRST AVENUE DONCASTER, SOUTH YORKSHIRE DN9 3GA ARMSTRONG HOUSE DONCASTER SHEFFIELD AIRPORT FIRST AVENUE, DONCASTER, SOUTH YORKSHIRE DN9 3GA

Investment Summary

— Well located office property within curtilage of GatewayEast - a 1,600 acre development site anchored by Doncaster Sheffield Airport and providing over 11m sq ft of existing property and development opportunities.

— Rapid road access to the motorway network via the recently completed Great Yorkshire Way which connects with Junction 3 of the M18.

— Five major motorways are within 20 minutes of the property.

— Two storey office property with substantial car park and scope for improvement through active asset management. — Multi let to a variety of occupiers on short term all-inclusive licence agreements, with 36,000 sq ft limited vacancy and low total occupational detached two costs. storey office — Current net rent of £186,851.80 pa building on which reflects a very low base rent of £5.19 psf. large site.

— Offers in xcesse of £2,100,000 ie 8.37% net initial yield and only £58psf capital value. ARMSTRONG HOUSE DONCASTER SHEFFIELD AIRPORT FIRST AVENUE, DONCASTER, SOUTH YORKSHIRE DN9 3GA

Gateway East & Doncaster Sheffield Airport (DSA)

Originally RAF Finningley, Doncaster Sheffield Airport (DSA) was redeveloped as Robin Hood Airport in 2005. Today the airport handles over 1.2 million passengers per annum, serving over 45 destinations and 23 countries across the world.

With one of the longest runways outside of the south east and readymade core runway infrastructure, the airport has capacity for up to 25 million passengers per annum and up to 250,000 tonnes of cargo.

One of the most strategically important locations serving the East of the UK, GatewayEast is a place where commuters can live, work and connect.

GatewayEast provides over 11m sq ft of existing property and development opportunities across a 1,600 acre site. Anchored by Doncaster Sheffield Airport the masterplan comprises five complimentary districts , featuring mix uses including: — Advanced Manufacturing — Logistics & Cargo Warehousing — Offices — Extensive Retail & Leisure — 2,000 Residential Units R y o o R A Th a o d s Brac k a L e d a r

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B kh Bawtry ill C l Roa y ad d t o Westgate ll R hi ARMSTRONG HOUSE DONCASTER SHEFFIELD AIRPORT FIRST AVENUE, DONCASTER, SOUTH YORKSHIRE DN9 3GA

“Doncaster Sheffield HILL HOUSE SCHOOL Airport is ready to TERMINAL BUILDING

SOLAR FARM KESTREL COURT M18 VIA GREAT be transformed from GLOBAL NORTH INNOVATION QUARTER a rapidly growing YORKSHIRE WAY regional airport into a major international gateway for passengers and freight.”

SECOND AVENUE FIRST AVENUE

FIRST AVENUE

ARMSTRONG HOUSE CAR PARK ARMSTRONG HOUSE DONCASTER SHEFFIELD AIRPORT FIRST AVENUE, DONCASTER, SOUTH YORKSHIRE DN9 3GA

Description and Accommodation

Armstrong House comprises a detached two storey office building, with a separate surface car park, located approximately 800 metres from the airport terminal building. The property provides a net internal floor area of 36,000 sq ft. In addition the property benefits from 8 car spaces to the front of the property and circa 94 car spaces in the large surface car park adjacent to the property.

The property is immediately adjacent to Hill House school and directly opposite the airfield and new build warehouse units.

The property is one of the closest multi let office buildings to the terminal, with several other modern office parks having been developed in close proximity, establishing the location as a major commercial centre.

Armstrong House was developed in the early 1980s as an RAF training facility and provides individual self-contained office suites, accessed off a central corridor.

GAS FIRED DOUBLE SUSPENDED CEILINGS CENTRAL HEATING GLAZING WITH INTEGRAL LIGHT FITTINGS

UNDERFLOOR MALE AND FEMALE TENANT KITCHEN/ TRUNKING TOILETS ON EACH COMMON ROOM FLOOR FACILITIES ARMSTRONG HOUSE DONCASTER SHEFFIELD AIRPORT FIRST AVENUE, DONCASTER, SOUTH YORKSHIRE DN9 3GA

Multi let to a variety of Population of occupiers with history Net internal floor area 6.2m people within a 60 min drive of high occupational of circa 36,000 sq ft levels

Great Yorkshire Located approximately Way provides direct 800m from access to the M18 Doncaster and motorway Sheffield Airport network terminal building

Ideally located in the Current net rent of Two storey office with building with separate centre of the UK £186,851.80 pa surface excellent road links to which reflects only car park the M62, M1 and A1 £5.19 psf ARMSTRONG HOUSE DONCASTER SHEFFIELD AIRPORT FIRST AVENUE, DONCASTER, SOUTH YORKSHIRE DN9 3GA

Tenancies

The premises are let in accordance with the tenancy schedule overleaf and currently generates a total income of £307,599.80 pa. The all-Inclusive occupational fee includes rent, service charge and insurance.

All tenant’s occupy on this basis and currently there are only 5 suites remaining vacant. The property has a history of high occupational levels given the flexible and economic nature of the occupational arrangements.

For the year ending the end of March 2021, the building service charge expenditure, including Utilities was £113,955, the wider airport estate service charge was £2,184 and buildings insurance was £4,609.

Accordingly the net rent received from occupiers was £186,851.80 pa which equates to only £5.19 psf inclusive of car parking.

P/A PSF

CURRENT INCOME £307,599.80 £8.54 psf Minus Building Service Charge £113,955 £3.16

Minus Estate Service Charge £2,184 £0.06

Minus Insurance £4,609 £0.13

NET INCOME £186,851 £5.19

Historic service charge accounts are available in the Data room. Sold off on Long Lease Tenure

Freehold ARMSTRONG HOUSE DONCASTER SHEFFIELD AIRPORT FIRST AVENUE, DONCASTER, SOUTH YORKSHIRE DN9 3GA

Floor plans

GROUND FLOOR FIRST FLOOR

NORTH WING NORTH WING

SOUTH WING SOUTH WING ARMSTRONG HOUSE DONCASTER SHEFFIELD AIRPORT FIRST AVENUE, DONCASTER, SOUTH YORKSHIRE DN9 3GA

Tenancy Schedule

Unit Name Tenant Start Date Expiry Date Sq Ft Rent PA £ £ PSF First Floor US9 Jackie Holian 01/03/2021 28/02/2022 125 £650.04 £5.20 Duxbury Lecture Theatre Re-Scuplt Personal Training 01/01/2016 31/12/2021 1526 £6,500.04 £4.26 UN14 A Wigglesworth & Co Ltd 01/03/2019 28/02/2021 765 £6,699.96 £8.76 UN15 Accepted Money Limited 01/10/2020 30/09/2021 757 £6,849.96 £9.05 US5 & US6 Max Design Consultancy Ltd 01/07/2020 30/06/2021 615 £6,000.00 £9.76 LN16 & 17 Blueprint Technologies Ltd 01/12/2019 30/11/2021 1,511 £13,200.00 £8.74 The Lodge - Ground Floor GRADS Ltd 01/05/2020 30/04/2021 1,351 £3,500.04 £2.59 The Lodge - First Floor Jobs 4 Network Ltd 01/01/2014 31/12/2021 1,369 £7,500.00 £5.48 The Lodge - Ground Floor VACANT 510 LN1 Chrysos HR Solutions Ltd 01/12/2014 30/11/2021 230 £2,499.96 £10.87 LN2 Chrysos HR Solutions Limited 07/04/2014 06/04/2021 148 £2,100.00 £14.19 Ground Floor North LN3 Chrysos HR Solutions Limited 01/05/2014 30/04/2021 233 £3,500.04 £15.02 LN4 Bassetlaw Construction Services Ltd 16/01/2016 15/01/2021 308 £3,750.00 £12.18 LN5 Peel L&P Limited 01/12/2015 31/12/2200 307 Ground Floor North LN6 Peel L&P Limited 01/12/2015 31/12/2200 1,063 Ground Floor North LN7 H & S Care Professionals Ltd 07/09/2019 06/09/2021 286 £4,100.04 £14.34 Ground Floor North LN8 Ecoinfinity Ltd 01/03/2020 28/02/2021 286 £3,849.96 £13.46 Ground Floor North LN9 Marrew Limited 12/10/2020 11/10/2021 286 £3,999.96 £13.99 Ground Floor North LN11 Store Room 107 Ground Floor North LN12 Aesthetic Practioner Medical Supplies 01/11/2020 31/10/2021 165 £2,349.96 £14.24 Ground Floor North LN15 Marrew Limited 01/06/2021 31/05/2022 648 £6.900.00 £10.65 Ground Floor North LN19 A-Training CW Limited 01/02/2021 31/01/2022 722 £6,699.96 £9.28 Ground Floor North LN20 Car Negotiator Ltd 17/08/2020 16/08/2021 769 £6,849.96 £8.91 Ground Floor North LN21 Chrysos H R Solutions Ltd 04/10/2011 03/10/2021 724 £6,000.00 £8.29 Ground Floor South LS1 Peel L&P Limited 01/01/2018 31/12/2028 157 Ground Floor South LS2 Amberstone Developments Ltd 17/09/2012 16/09/2021 157 £2,600.04 £16.56 Ground Floor LS3 Clemence Rogers Home Care Ltd 01/03/2020 28/02/2021 162 £2,300.04 £14.20 Ground Floor South LS4 Termstall Limited 28/02/2011 27/02/2021 302 £3,850.00 £12.75 Ground Floor South LS5 Zycoo UK Ltd 04/10/2019 03/10/2021 307 £3,750.00 £12.21 Ground Floor South LS6 Oak & Prosper Ltd 01/03/2021 28/02/2022 307 £3,750.00 £12.21 Ground Floor South LS7 NATM Media Publishers 07/02/2011 05/02/2022 309 £3,849.96 £12.46 Ground Floor Sourh LS8 Zuka Ltd 12/02/2018 11/02/2021 306 £3,800.04 £12.42 LS16 NAL Business Law Limited 06/03/2019 05/03/2022 846 £6,699.96 £7.92 continued over ARMSTRONG HOUSE DONCASTER SHEFFIELD AIRPORT FIRST AVENUE, DONCASTER, SOUTH YORKSHIRE DN9 3GA

Tenancy Schedule (continued)

Unit Name Tenant Start Date Expiry Date Sq Ft Rent PA £ £ PSF Ground Floor South LS17 Xais Assett Management Ltd 01/12/2015 30/11/2021 869 £6,249.96 £7.19 LS20 D & C Gilbert Ltd 01/02/2018 31/01/2022 852 £6,500.04 £7.63 Ground Floor South LS21 Accepted Money Ltd 01/03/2021 28/02/2022 651 £6,849.96 £10.52 LS18 & 19 WorldShare 01/05/2010 30/04/2022 1,450 £12,549.96 £8.66 The Lodge - Ground Floor Martin Hemming / Club Impact 13/06/2016 12/06/2021 2,000 £14,499.96 £7.25 UN1 Willem Louw 01/08/2012 31/07/2021 140 £2,700.00 £19.29 UN2 Aesthetic Practitioners Limited 01/06/2020 31/05/2022 281 £3,850.00 £13.70 UN3 Go Energy Wise Ltd 26/01/2021 25/01/2022 283 £3,750.00 £13.25 UN4 Migora Consulting Ltd 17/08/2020 16/08/2021 283 £3,849.96 £13.60 UN5 Love Money Finance Ltd 01/05/2019 30/04/2020 282 £3,650.04 £12.94 First Floor North UN6 Envico Ltd 01/01/2015 31/12/2021 816 £8,150.04 £9.99 First Floor North UN7 Arthur Wigglesworth & Co 01/10/2014 30/09/2021 286 £3,350.04 £11.71 First Floor North UN8 Nationwide Business Finance Ltd 01/02/2020 31/01/2022 286 £4,050.00 £14.16 UN17 Independent Service Bookings Ltd 04/06/2010 03/06/2021 723 £6,350.04 £8.78 UN18 Yorkshire Financial Services LImited 01/06/2016 31/05/2022 829 £6,600.00 £7.96 UN19 Albion Financial Advice Services Ltd 08/09/2017 07/09/2021 726 £6,900.00 £9.50 UN11, UN12, UN13 A Wigglesworth & Co Ltd 01/10/2014 30/09/2021 920 £9,500.04 £10.33 UN9 & UN10 A Wigglesworth & Co Ltd 01/07/2014 30/06/2022 392 £4,350.00 £11.10 First Floor South US1 Ecofficiency Ltd 01/05/2019 30/04/2021 157 £2,499.96 £15.92 First Floor South US2 Ecofficiency Ltd 01/05/2019 30/04/2021 157 £2,499.96 £15.92 First Floor South US3 Inter-Ways Ltd 01/01/2016 31/12/2021 162 £2,349.96 £14.51 First Floor South US4 512 (Doncaster) Ltd 01/03/2015 27/02/2021 303 £3,500.04 £11.55 First Floor South US7 Nine Ten Digital Ltd 11/04/2016 10/04/2020 310 £3,300.00 £10.65 First Floor South US8 VACANT 306 First Floor South US11 T & RS Engineering Ltd 01/03/2020 28/02/2021 167 £2,499.96 £14.97 First Floor South US14 Inter-Ways Ltd 02/01/2013 01/01/2021 852 £6,699.96 £7.86 First Floor South US15 Dolphin ICT Ltd 01/11/2014 31/10/2021 852 £6,200.04 £7.28 First Floor South US16 Under Floor Heating Supply Ltd 01/03/2016 28/02/2022 725 £6,750.00 £9.31 First Floor South US17 Ecofficiency Ltd 06/10/2018 05/10/2021 726 £6,099.96 £8.40 First Floor South US18 Ecofficiency Limited 01/04/2011 31/03/2021 858 £6,150.00 £7.17 First Floor South US19 Ecofficiency Limited 01/10/2013 30/09/2021 726 £6,999.96 £9.64 External Valet Facility D & C Gilbert Ltd 01/05/2019 30/04/2021 £4,250.04 36,034 £307,599.80 £630.73 ARMSTRONG HOUSE DONCASTER SHEFFIELD AIRPORT FIRST AVENUE, DONCASTER, SOUTH YORKSHIRE DN9 3GA

Market Commentary

The business park office sector in the immediate area comprises a variety of modern schemes that have been developed over the past 5 to 10 years. Generally rental tones for this accommodation is in the region of £10psf to £12psf, with freehold sales being undertaken at circa £125psf.

Currently there is only limited availability of space within close proximity to the airport, which supports the potential for further increase in the rental level in Armstrong House.

Asset Management Strategy

1. Refurbishment of common areas and reception to enhance environment and consequentially rental value. 2. Potential for creation of coffee shop/convenience store in part ground floor to improve occupier amenity and to serve the wider airport occupier demand. 3. Regularise car park use, based on floor areas occupied within the building. Potential for release of surplus spaces to the wider market. 4. Refurbish (where required) and let current vacant accommodation and office space currently used by the vendor – circa 3,010sqft. 5. Rolling programme of suite refurbishment, as and when vacancies occur to drive the rental tone across the building to more appropriate levels. 6. Secure longer term lease arrangements with certain existing occupiers. Proposal

We are instructed to seek offers in excess of £2,100,000 (Two Million, One Hundred Thousand Pounds) which reflects a8.37% net initial yield after deducting purchase costs at 6.30%.

Further Information

For further information or to arrange an inspection, please contact:

Chris Bathurst Tel: 07957 138 003 Email: [email protected]

Chris Dudhill Tel: 07931 743 643 Christopher Dee LLP Email: [email protected] 12-14 Shaw’s Road, Altrincham WA14 1QU

MISREP: The accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein is not guaranteed and is for general guidance only and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy. Christopher Dee nor any of its employees or representatives has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property. Rents quoted in these particulars may be subject to VAT in addition. The reference to any mechanical or electrical equipment or other facilities at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it is capable or fulfilling its intended function. Prospective tenants/ purchasers should satisfy themselves as to the fitness of such equipment for their requirements. June 2021.