ST MARK’S & ST MARY’S HOUSE ST MARY’S STREET, PRESTON, PR1 4AT
REGIONAL HQ OFFICE INVESTMENT LET TO THE FIRST SECRETARY OF STATE INVESTMENT CONSIDERATIONS ■■ Located on the A59 ring road and opposite the Queen’s Shopping Park ■■ Excellent car parking ratio of 1:337 ■■ Preston is the administrative centre of Lancashire approximately 30 miles ■■ Current passing rent of £565,000 per annum northwest of Manchester ■■ Unexpired lease term of 6.5 years ■ ■ Freehold ■■ Tenant has recently removed break option showing commitment to the site ■ ■ Let to the undoubted covenant of The First Secretary of State ■■ Seeking offers in excess of£5,825,000 (Five Million Eight Hundred and Twenty ■■ The property serves as an HMRC administrative hub with staff from other local Five Thousand Pounds), subject to contract and exclusive of VAT. A purchase government offices consolidating in the subject property over the last 3 months at this level would reflect anet initial yield of 9.10% after allowing for ■■ 58,327 sq ft (NIA) of office space split across 2 x three-storey buildings purchaser’s costs of 6.62% including a secure 173 car park ■■ Low capital value of circa £100 per sq ft
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BRADFORD A583 A59 BUR LE LOCAL MARKET & DEMOGRAPHICS PRESTO A63 Blackpool M65 A646 HALIFA Preston is the administrative centre of Lancashire and is home to a A59 A56 M62 mix of public and private sector occupiers. A report conducted by
A565 A6033 SOUTHPORT PWC and the thinktank Demos, which used a range of measures HUDDERSFIELD M61 ROCHDALE A1 including employment, workers’ pay, house prices, transport, the M6 M66 M62 M1 A570 A59 environment, work life balance and inequality, found that Preston BOLTO A629 has improved the most across the United Kingdom. M58 OLDHAM
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A580 Robin Hood LI ERPOOL ( ) M62 M60 A1 M Preston Unemployment Rate UCLAN campus masterplan k
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l A1 a 3.1% Manchester M56 A523 Liverpool n M1 LOCATION o (compared to 6.5% in 2014) M53 i £200m A623 t A61 a