Prime Single Let Freehold Office Investment Office 3, Bridgehead Business Park, Boothferry Road, Hessle, East Yorkshire HU13 0DH Image indicative of Office 3 Office 3 Bridgehead Business Park A164 to Humber Bridge A63 to Hull A164 to Beverley / Leeds Office 3 Photograph 18th January 2017 Office 3 Bridgehead Business Park Investment Summary • Tenant GB Gas Holdings Limited. • 166,900 sq ft NIA already developed Shareholders funds £2.9 billion and or under construction a Dun & Bradstreet rating of 5A1 • One of the UK’s greenest business • 15 year term (tenants break parks – over 40% of the site is option year 10) landscaping in partnership with Yorkshire Wildlife Trust • 5 year rent reviews to RPI collar and cap 1-4% pa • Adjacent to the A164 and A63 overlooking the Humber Bridge with • Rent £293,125 pa (£16.75 per sq ft) plus direct access to the M62 Image indicative of Office 3 20 additional car spaces £10,000 pa. Total rent £303,125 pa. • Offers in excess of £4,375,000 which reflects an initial yield of6.50% subject • 17,500 sq ft NIA with 108 car spaces to contract and exclusive of VAT (1 space:162 sq ft) assuming purchaser’s costs of 6.56% • One of the best specified office • Practical completion of the building buildings in the region to be the end of May 2017 • 50 acre Business Park with capacity for 612,000 sq ft of offices, R&D and high tech manufacturing Office 3 under construction Office 3 Bridgehead Business Park Bridgehead Business Park Bridgehead occupies 50 acres on the SGS Packaging Europe digital branding western edge of Kingston upon Hull and 15,745 sq ft European company has capacity for 612,000 sq ft of high headquarters quality business space for use as offices, research and development facilities John Good Group shipping, logistics and and high tech manufacturing. Offices travel 8,500 sq ft company headquarters and R&D facilities totalling 166,900 sq ft NIA have already been developed or Beal Homes residential developers are under construction for some of the 11,000 sq ft company headquarters region’s leading businesses. A further office technology two offices totalling 42,000 sq ft NIA will IT@Spectrum 15,000 sq ft commence on site in spring 2017. Tiptoes Nursery 3,500 sq ft planned opening Current occupiers include; Farmhouse Inn Summer 2017 Rofin Sinar production of laser products 80,000 sq ft office, research and development and high tech www.bridgeheadbusinesspark.co.uk manufacturing VictoriaPlum.com on line bathroom retailer 18,100 sq ft company headquarters Office 3 Bridgehead Business Park < To Beverley A164 To Scotland A1105 y Rd Scarborough Location Boothferr A1/M Glasgow Edinburgh Leeds A164 Bradford Airport Ferriby Road Newcastle Beverley Overlooking the world-famous Humber Humberside Airport which has daily Leeds York Bridge, Bridgehead Business Park is flights to Amsterdam and international Hull M62 located at the crossroads of the Humber connections. Hull Paragon Interchange < To Leeds provides direct rail routes to national M62 Region. Manchester M18 A63 To Hull > destinations and London Kings A63 Adjacent to the key A164 Beverley-Hull- Cross with a fastest journey time of M1 M180 Grimsby Doncaster Humber Bridge route and the A63, approximately 2 hours 30 minutes. Birmingham Humber Bridge Humberside Airport Bridge Humber providing direct access to the M62 Robin Hood Bridge Humber To Manchester and the national motorway network. Sheffield Airport The Humber Bridge provides direct London M1 River Humber access to M180 (via the A15) and Lincoln A1/M To London A63 to Hull / Leeds A164 to Linconshire < To Beverley A164 < To Beverley A164 To Scotland To Scotland A1105 A1105 y Rd y Rd Scarborough Scarborough Boothferr Boothferr A1105 to A63 A1/M A1/M Glasgow Edinburgh Glasgow Edinburgh Leeds A164 Leeds A164 Bradford Bradford Airport Ferriby Road Airport Ferriby Road Newcastle Beverley Newcastle Beverley Leeds York Leeds York Hull Hull M62 M62 < To Leeds A1105 < To Leeds Boothferry Road M62 M62 A63 Manchester M18 A63 Manchester To Hull > M18 To Hull > A63 A63 M1 M180 Grimsby M1 M180 Grimsby Doncaster Doncaster Humberside Birmingham Humberside Birmingham Airport Bridge Humber Airport Bridge Humber Humber Bridge Humber Robin Hood Bridge Humber Robin Hood To Manchester To Manchester Sheffield Airport Sheffield Airport London London M1 River Humber M1 River Humber Lincoln Lincoln A1/M A1/M A164 to Beverley To London To London Office 3 Bridgehead Business Park Up Up Showers Ground Floor Office 3 Showers Lift Lift Dis WC Dis WC Description Reception Reception Office 3 totals 17,500 sq ft (1,625.80 sq m) Practical completion of the building is 8,750 Sq ft 812.90 Sq m NIA on two floors with 108 car spaces. estimated to be the end of May 2017. A full specification is available. Sq ft Sq m Ground 8,750 812.90 First 8,750 812.90 Total 17,500 1,625.80 Tenure First Floor Office 3 Up Up Atrium Atrium Lift Freehold Lift Office 3 is of steel frame construction with Cleaners concrete floors and a concrete roof. The Cleaners elevations are clad in brick, concrete panels and double glazing with Brise Soleil to the south and east elevations. Tenancy 8,750 Sq ft 812.90 Sq m The specification includes - Column free office accommodation The entire property totalling 17,500 sq ft and 88 car spaces has been pre-let to - VRF Heat Recovery Ventilation and GB Gas Holdings Limited for a term of Cooling system 15 years from practical completion on - Raised access floors full repairing and insuring terms at a - Suspended ceilings commencing rent of £293,125 pa (£16.75 per sq ft inclusive of car parking). The - LG6 lighting with PIR / daylight dimming rent is to be reviewed every 5th year to lease at year 10 of the term subject to 6 The property is to be occupied by Centrica - Roof mounted Solar Photo Voltaics the increase in RPI during the preceding months’ notice. Storage the UK’s leading gas storage - Electric car charging point 5 years subject to a cap of 4% pa and a business as the company’s operational - DDA compliant collar of 1% pa. There is an additional area of 20 car support base. The company was founded parking spaces held on a separate in 2003 as a wholely owned subsidiary of - 8 Person passenger lift The letting is subject to a 12 month rent agreement for a term of 15 years from Centrica plc the parent company of British - Shower facilities free period (50% of the annual rent practical completion on full repairing Gas. Centrica Storage has had a presence - 108 car spaces (1 space: 162 sq ft) for the first two years of the term). The and insuring terms at a commencing rent in East Yorkshire for 40 years and relocated vendors will “top up” the rent. The rent of £10,000 pa. The rent is to be reviewed to Bridgehead from Hedon. The property has 88 car spaces within receivable from practical completion will every 5th year to the increase in RPI the curtilage of the building with an be £293,125 pa. during the preceding 5 years subject to a http://wykeland.co.uk/news/start-construction- additional 20 spaces adjacent. cap of 4% pa and a collar of 1% pa. heralds-exciting-new-era-bridgehead- The tenant has the right to determine the The total rent payable is £303,125 pa. centrica-storage/ Office 3 Bridgehead Business Park Artists Impression of Office 3 Artists Impression of Office 3 Image indicative of Office 3 Image indicative of Office 3 Office 3 Bridgehead Business Park GB Gas Holdings Proposal Contact Limited We are instructed to seek offers in excess For further information, to arrange of £4,375,000 million (four million three access to the data room or to inspect the GB Gas Holdings Limited (Company No hundred and seventy five thousand property please contact 03186121) have shareholder’s funds of pounds) subject to contract and exclusive £2.9 billion and a Dun and Bradstreet of VAT which based on the total rent of rating of 5A1. GB Gas Holdings Limited £303,125 pa reflects a net initial yield of are an investment holding company and 6.50% after allowance for purchaser’s a subsidiary of Centrica plc. costs of 6.56%. Assuming the Retail Price Index increases VAT by 3% per annum and the tenant does not exercise the break clause the yield will increase to 7.54% at year 5 and Tom Penrose David Nicholls The property is registered for VAT and it PPH Hague Nicholls is anticipated that the transaction will 8.74% at year 10. Based on the latest RPI forecasts below published by The Office The Hesslewood Estate 29 Park Square West be structured as a Transfer of a Going Ferriby Road Leeds Concern (TOGC). for Budget Responsibility these yields are conservative. Hessle LS1 2PQ East Yorkshire HU13 0LG Capital Allowances 2017 2018 2019 2020 2021 DD: 01482 626901 DD: 0113 234 6573 Mob: 07885 648888 Mob: 07950 574986 3.2% 3.5% 3.2% 3.1% 3.2% The vendors are to retain capital [email protected] [email protected] allowances. Source: Economic and Fiscal Outlook published by The Office for Budget Responsibility November 2016 COMMERCIAL DEVELOPER OF THE YEAR MISREPRESENTATION ACT These particulars do not constitute an offer or contract. They are intended as a guide to prospective purchasers. All reasonable care has been taken in the preparation of these particulars but their accuracy is not guaranteed. The purchasers should satisfy themselves as to the correctness of these details.