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Liverpool Innovation Park Edge Lane, L7 9Nj LIVERPOOL INNOVATION PARK EDGE LANE, L7 9NJ MIXED USE MULTI-LET INVESTMENT Prominent location on Edge Lane, with excellent road and transport links to /11 Liverpool city centre and the motorway 01 network Total passing rent of £1,315,687 per Three buildings (Innovation Centre, annum INVESTMENT Building 3 and Building 19) totalling 282,532 sq ft and 4.25 acres of The net receivable income, including SUMMARY development land fronting Edge Lane, vendor guarantees and after deducting on a landscaped campus setting which landlord non recoverable costs is extends to approximately 8.79 hectares £901,923 per annum. (21.7 acres) with car parking for 1,616 cars The potential ERV is £1,929,056 per annum. Let to 36 tenants with an average weighted unexpired term of circa 3 years to breaks and 5.4 years to expiries Offers are sought in excess of £12,500,000 (Twelve Million Five Hundred Thousand Pounds) subject to contract and exclusive of VAT. Assuming 44% of income secured against the purchaser’s costs of 6.7% and attributing undoubted covenants of Liverpool £1.5m to 4.25 acres of development land Community Health NHS Trust and Mersey fronting Edge Lane, a purchase at this Care NHS Trust level reflects the following: 11.20 % Net Initial Yield 7.68% Triple Net Yield Asset management opportunities 16.42% Reversionary Yield to improve rental income by letting £39 Capital Value per sq ft vacant accommodation, and enhance value including redevelopment of the land fronting Edge Lane, let or explore alternative uses for Building 3, and refurbish or sell Building 19 to an owner occupier For indicative purposes only Liverpool is situated in the North West of England 02/11 and is the commercial and administrative capital of Merseyside. It is approximately 25 miles west of Manchester, 11 miles from Warrington and 21 miles from Chester. The M58 and M62 motorways provide communications into the city and Liverpool also LOCATION benefits from the extensive local Merseyrail networks. Liverpool is the 6th largest city in the UK and is rapidly expanding with over £5 billion of investment delivered in the past decade through private and public partnership into culture, arts and development. KEY FACTS: – Liverpool is situated in the centre of the North West, the UK’s second largest regional economy. – Merseyside has an economy worth more than £20 billion. – Over 3,000 companies have chosen the area as their base of operations demonstrating the region’s MANCHESTER commercial opportunities. LIVERPOOL – 6.2 million people within an hour’s drive. – Two major airports within 45 minutes’ drive time. – Two hours journey time to London by rail. BIRMINGHAM – 45% of North American Trade enters via Liverpool. – Visitor spend worth £3.64 billion to the local economy. LONDON – Four Universities and over 18,000 graduates a year. With strengths in automotive, ports and logistics, business services, creative and digital, life sciences and low carbon technologies, Liverpool offers a diverse and compelling offer for investors. LIVERPOOL TWO The Port of Liverpool will be one of Europe’s biggest super container ports, capable of handling 1.5 million TEUs of cargo a year. The £300 million post-Panamax terminal is due to open shortly and it is estimated that it will add £5 billion gross value to the economy. AUTOMOTIVE Liverpool is home to Jaguar Land Rover’s fastest selling model of all time, the ‘Car of the Year’ Evoque and the new BAC Mono. LIFE SCIENCES Liverpool is home to over 90 life science companies with revenue in excess of £1.5 billion per annum, contributing over £300 million in Gross Value Added (GVA) to the local economy. LIVERPOOL ONE Opened in 2008, Liverpool ONE extends to over 1.6 million sq ft and is home to 170 retailers including John Lewis, Debenhams, Zara and Hollister. CREATIVE AND DIGITAL An estimated 50,000 skilled people are employed in the creative and digital sector across the city region. 03/11 SITUATION Liverpool Innovation Park is located approximately two miles east of Liverpool city centre with a prominent frontage to Edge Lane, the main arterial route between the M62 motorway and the city centre. The property is in close proximity to Edge Lane Retail Park, which is currently undergoing a substantial redevelopment, as well as the established Wavertree Technology Park. Nearby occupiers include Barclays, Sony Computer Entertainment and Royal Bank of Scotland. The property is served by Wavertree Technology Park railway station which provides a regular direct service to Liverpool Lime Street and Manchester Piccadilly. From Liverpool Lime Street Station, regular services link to multiple regional and national destinations including Manchester, Birmingham and London Euston in a fastest time of 2 hours. Liverpool’s John Lennon Airport is situated approximately 8 miles to the south east and is one of the UK and Europe’s fastest growing Airports. ANE GE L ED C A B EDGE LANE REDEVELOPMENT For indicative purposes only There are a number of LITTLEWOODS C. EDGE LANE RETAIL PARK significant redevelopment A. STUDIOS LIVERPOOL Edge Lane Retail Park immediately to the east schemes in the immediate Planning consent has been granted for the of the property is currently undergoing a £200m vicinity of Liverpool redevelopment of the former Littlewoods building redevelopment, with construction underway for a new cinema, bowling alley, gym and five leisure units. Innovation Park which will into a £25m film studio in order to meet demand for film and production facilities. The 12 acre site is also further enhance Edge Lane proposed to become the new home for the Liverpool The proposal regenerates a significant gateway to as a location. Theatre School. Liverpool and plans also include a central boulevard through the retail park with views over the city. Planning consent has been granted for the 1,000,000 THE BUNKER sq ft development incorporating the re-modelling B. and extension of an existing retail park to provide Capital and Centric recently completed the £4m extensive new accommodation. conversion of the Bunker Building adjacent to Littlewoods Studios Liverpool, a 20,000 sq ft The design statement states speculative office space, aimed at digital and ‘the overall aims of the creative occupiers. Edge Lane redevelopment are to produce a primary gateway into the site, and create a positive image for Liverpool while offering opportunities for new and improved employment, retail, leisure, open space and residential development to compliment the work already undertaken’. 04/11 The property comprises a number of primarily office buildings arranged in a landscaped campus setting on a site extending to approximately 8.79 ha (21.7 DESCRIPTION acres). The property consists of the Innovation Centre, which comprises Building 2, Building 16 and Building 17. There are also two standalone buildings, ‘Building 3’ and ‘ Building 19’ which are identified on the site plan overleaf. EDGE LANE SOLD OFF INNOVATION BUILDING 19 BUILDING 3 LONG LEASE CENTRE HOLD 04/11 DESCRIPTION CD CD CD CD 4 4 4 4 / / / / 1 1 1 1 1/98 1/98 1/98 1/98 CD4/11/98 1/98 1 / 4 CONTINUED CD CD4/11/98 1/98 1/98 1 1 / / 4 4 CD CD 4/11/98 1/98 1 / 4 CD 1/98 1/98 1 1 / / 4 4 CD CD 4/11/98 1/98 1 / 4 CD 4/11/98 BAYLIS (GF)CD / BUILDING 2 (1F & 2F) 1/98 1 / 4 CD 4/11/98 1/98 1 / 4 CD 4/11/98 1/98 1 / 4 CD 4/11/98 UP UP Innovation Centre HO S E Indicative Floor Plan INNOVATION CENTRE The Innovation Centre is a rectangular three storey building with two further wings extending from it. The majority of the accommodation has been fully refurbished to provide the following specification: BUILDING 16 BUILDING 17 Air conditioning F F I I R R U U S S P P T T T T F F O O L L O O O O – R R – LG7 lighting – Suspended ceilings – Three compartment perimeter trunking The primary use in this part of the site is INNOVATION offices and there is also an onsite cafe and CENTRE gym. Building 17 is occupied by Aimes Management Services Limited under a lease expiring in 2265 at a peppercorn rent. 04/11 DESCRIPTION Fire Door Fire Door Building 3 is a former BUILDING 3 production facility that extends to approximately 78,226 sq ft and offers an extensive clear floor plate suitable for a variety of uses. D INSP O O R 99.7m The vendor is providing a two year rent, rates, insurance and service charge guarantee on this building. C C A A BL BL E E DU DU C C T T 73.9m Building 3 Indicative Floor Plan BUILDING 19 Building 19 extends to 48,509 sq ft. It is currently in shell condition and has potential for a variety of uses including a Headquarter Office, training facility, call centre or research and development (R&D) facility. Building 17 The vendor is providing a two Indicative Upper Floor Plan year service charge and insurance guarantee on this building. No rates are currently payable. 0 2 10 meters SCALE BAR SECTION 2 /11 A referenced measured survey has been undertaken and is available to be assigned. 05 The buildings have been measured in accordance with the RICS Property Measurement, 1st Edition, on an IPMS 3 - Office (Innovation Centre and Building 19), and Gross Internal Area (Building 3) basis. A breakdown of the building areas are as follows: ACCOMMODATION Referenced Survey Areas NIA Demise Area (sq ft) Area (sq m) Area (sq ft) Area (sq m) Innovation Centre* 155,797 14,474 142,646 13,252 Building 3 78,226 7,267 73,914 6,867 Building 19 48,509 4,507 45,561 4,232 Total 282,532 26,248 262,121 24,351 The site extends to 8.79 hectares (21.7 acres).
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