Queensberry House 104-109 Queens Road | Brighton | Bn1 3Xf
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QUEENSBERRY HOUSE 104-109 QUEENS ROAD | BRIGHTON | BN1 3XF PRIME MULTI-LET CITY CENTRE OFFICE AND RETAIL INVESTMENT QUEENSBERRY HOUSE 104-109 QUEENS ROAD | BRIGHTON | BN1 3XF BRIGHTON STATION QUEENSBERRY HOUSE 104-109 QUEENS ROAD | BRIGHTON QUEENSBERRY HOUSE 104-109 QUEENS ROAD | BRIGHTON | BN1 3XF INVESTMENT SUMMARY Fully let prime city centre office and retail investment Comprehensively refurbished in 2009 Energy efficient office accommodation (EPC B rating) Total floor area of 35,622 sq ft - 25,957 sq ft of office and 9,665 sq ft of retail accommodation Multi-let to eight substantial tenants providing a diverse income stream Annual rent of £808,327 pa 35% of income reviewed to RPI Ideally placed to benefit from rental growth due to constrained office supply in Brighton WAULT of 4.8 years to breaks, and 6.59 years to lease expiries Freehold PROPOSAL Offers in excess of £11,750,000 Net initial yield of 6.5% QUEENSBERRY HOUSE 104-109 QUEENS ROAD | BRIGHTON | BN1 3XF BRIGHTON PIER CHURCHILL SQUARE SHOPPING CENTRE A259 ROYAL PAVILION THE LANES A259 CLOCK TOWER THE GRAND HOTEL AMERICAN EXPRESS SOVEREIGN HOUSE CIRCUS STREET VICTORIA GARDENS QUEENSBERRY HOUSE 104-109 QUEENS ROAD | BRIGHTON BRIGHTON UNIVERSITY TRAFALGAR PLACE GRAND PARADE CAMPUS BRIGHTON STATION NEW ENGLAND QUARTER CITYVIEW A23 P RE S T O B N E BEA R R RO QUEENSBERRY HOUSE O A AD A C D O D A N O 104-109 QUEENS ROAD | BRIGHTON | BN1 3XF R VE S London Road RO F D D I E Station A L O D R R W D ARREN N ROAD . W O D BRIGHTON Y D R R T ES N O D. A270 D LD ND R W A SHOR LA VIA LE A EHA G D N M N U R O RO E C E R AD T R E NEW D. PP T N U E S R R W A23 A W Brighton is the cultural and creative capital of the UK’s South Coast, with significant art, advertising . A L P L N O D M A B A N ELM O O GRO H D VE R and music industries, together with a burgeoning alternative culture. T R A O S O H N E C U W R G DA E VI CKINGHAM O L BU G PL H D . O T R E A ROAD . R D Brighton is a major retail and visitor destination city. Its 5.4 mile length of shingle beach and R D M E R Brighton T I N I V N U Station E O S location less than one hour from Central London has made it one of the UK’s most popular ‘day trip’ N R R E D E V . C . R A destinations, attracting over 8.5 million visitors annually. D L E P T Y TRA . K FA D L L K GAR Y E R S P T N R A E ET A R K O W O M R D Brighton’s history as a seaside resort dates from the Georgian era, when members of the Royal M N A K A O GL H E D O UCE Y W O C S D TER I R R A OA R Family frequented the town, and much of the town’s architecture is in Regency style. D H S E N QUEENSBERRY HOUSE T E E I E C H 104-109 QUEENS ROAD | BRIGHTON W U A L E W Q N P I Brighton, located approximately 54 miles from Central London, benefits from excellent transport D O D L R TH S A R R A OAD O E R O T A N R S P E links, with Gatwick Airport situated approximately 28 miles to the north, and a regular fast train R CH A C D E I UR V U L C N H E W O S N A PE E TR L service to both London Bridge and London Victoria, with a fastest journey time of 54 minutes. The ST E R T ER E G N T D U ROA G N D E A O O R city also benefits from being on the Thameslink line, providing direct access to London Blackfriars, M N D Churchill Square O L R T T H E I E S Shopping Centre T F A259 London St Pancras, and Luton Airport Parkway. E R H R E S E E T D T W E A S RD ST R E EE FR T M T S KI The Lanes N N G E I A S O The town is easily accessible by car, with the A27 providing access across the South Coast, to RO E N A T L D W O S D R S H D T . JA IL L M L Worthing, Chichester and Portsmouth to the west, and to Eastbourne and Hastings to the east, S ES 'S S T O TR E EET IN G E R whilst the A23 runs north, becoming the M23, leading to the M25. AN M25 M1 D J M40 M20 CT RD A259 . STA A34 MAR West Pier INE P AR AD Palace Pier E MA DE Maidenhead IRA DR IVE . D R L Reading Volks Electric Railway Heathrow RO STA DE E M25 D London EA N N R U O M4 A R D A DRI VE INE MAR M20 M A339 Croydon SITUATION ARIN A M25 STA Basingstoke M3 Brighton A21 Marina TH Guildford Queensberry House is positioned in Brighton’s best business E STR A34 A24 AND Tonbridge A31 M23 location. It is prominently located on Queens Road, the A3 Gatwick arterial route between the train station and the seafront, and Crawley A22 A26 the Brighton’s prime retail facilities comprising The Lanes and Petersfield Horsham Churchill Square Shopping Centre. A272 The property is located approximately 250m from Southampton A3 A24 A23 the train station, and approximately 700m from the M27 Lewes A27 seafront. A27 Worthing Portsmouth Bognor Regis The city’s retail heart is within a short walk, with The BRIGHTON Eastbourne Lanes, Brighton’s famous shopping streets approximately 500m to the south east and Churchill Square the same Isle of Wight distance to the south west. QUEENSBERRY HOUSE 104-109 QUEENS ROAD | BRIGHTON | BN1 3XF An alternative economy super-city and a “dynamic centre for innovative companies forging novel ways of doing business DEMOGRAPHICS AND BUSINESS/EMPLOYMENT Brighton has a significant services sector and a population with high level service and communication skills. Alongside its retail, tourist, arts, entertainment and recreation assets, Brighton also has significant education, financial services, business/professional services and health sectors. Brighton’s population is approximately 273,000. There are now over 120,000 people working in the city, including 8,000 entrepreneurs, many in the professional, scientific and creative industries. Between 1998 and 2008 employment in Brighton grew by 20,000 and the value of Brighton’s economy doubled compared to a 70% increase nationally. Centre for Cities is an independent think tank that produces an annual report that profiles economic and labour market conditions across 64 major urban areas in the UK. Its 2015 Cities Outlook Report provides the following statistics relating to Brighton: 4th (of 64 cities) highest growth in net jobs between 2004 and 2014 9th highest employment rate in 2014 of 75.5% 6th highest qualified population (44.1% to NVQ4 +) 2nd highest digital connectivity (super fast broadband) of 89.3% of postcodes 7th lowest CO2 emissions per capita Traditional businesses with a major presence in Brighton include American Express, Domestic & General, Lloyds Banking Group and Legal General. Other large private sector employers include Kimberley Clark, BUPA, Kineo, Riot Games and iCrossing. These last three are indicative of Brighton’s popularity with Creative, Digital and IT (CDIT) businesses with 16,000 people now working for creative businesses in the city and CDIT employment having grown by over 25% between 2010 and 2013, a 10% faster rate than the national average. In 2011 HSBC Business described Brighton as “an alternative economy super-city and a dynamic centre for innovative companies forging novel ways of doing business” QUEENSBERRY HOUSE 104-109 QUEENS ROAD | BRIGHTON | BN1 3XF DESCRIPTION Queensberry House is a purpose-built office building, constructed in the 1960s and comprehensively refurbished and extended in 2009. The building also provides retail accommodation at ground and basement levels. As part of the refurbishment, a penthouse office suite was added, which benefits from an extensive rooftop terrace and panoramic coastal views. The property is arranged over basement, ground and six upper floors, with an office reception at ground floor. The property benefits from nine car parking spaces at the rear accessed off Frederick Street. Further parking is available nearby at the 162 space NCP North Street, and the 587 NCP Brighton Theatre on Church Street. Following the full refurbishment in 2009, at a cost of approximately £115 per sq ft, the property provides Grade A office accommodation with amenities including: New heating and cooling to the offices via VRV systems New raised access floors New windows comprising double glazed aluminium units New metal suspended ceilings with LG7 compliant lighting Two new 8-person DDA compliant lifts serving basement to 5th floors New electrical supplies, meters and switchgear New water and gas supplies and drainage New fire alarm system New roof and elevations painted QUEENSBERRY HOUSE 104-109 QUEENS ROAD | BRIGHTON | BN1 3XF FLOOR PLANS TENURE Typical upper floor plan: Freehold.