23 Kings Hill Avenue, Kings Hill, , ME19 4UA

Attractive Modern Office Investment for Sale Kings Hill Business Park Description To M2 A228 & Medway Towns Over the past 20 years, Liberty Property Trust UK 23 Kings Hill Avenue was built in 2008 and is a purpose has transformed the former West Malling airfield into built office building arranged over ground and two M20 one of the largest and most successful mixed use J4 upper floors. developments in Europe. To The property is of steel frame construction with brick www.kings-hill.com & M25 elevations incorporating double glazed windows To Ashford, Over 250 companies are in occupation employing more Channel Tunnel beneath a flat roof with roof plant room. & Ports than 5,000 people with homes for 6,000 residents. The building has a prestigious reception area with a Once fully developed, Kings Hill is likely to provide jobs To Sevenoaks 10-person Kone lift serving all floors. for an estimated 12,000 employees and homes for A20 A20

10,000 people. The offices are arranged in open plan rectangular

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8 configuration with excellent natural daylight

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2 To Maidstone 2 2

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The Business Park lies within a fully masterplanned A

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predominantly from front and rear elevations, and

Y Y Accommodation A

landscaped environment of 800 acres and together A the office specification includes suspended ceiling W W

with the offices and homes also includes various West N

N with recessed fluorescent lighting. The building is fully O O The property provides the following approximate Net sporting facilities with an 18-hole championship golf Malling T H air conditioned and office areas have raised floors. S Internal areas: course and a David Lloyd tennis and leisure complex. A There are a number of schools at Kings Hill and Kitchen facilities, as well as male, female and disabled Liberty Square provides approximately 35,000 sq.ft. of WC’s are located on all three floors. sq ft sq m convenience retailing and restaurants, adjacent to an Externally, the property benefits from a landscaped Reception 566 52.6

T supermarket and medical centre. O W and block paved car parking area for 88 cars giving an Ground Floor 4,345 404.7 E R

excellent car parking ratio of 1:169 sq.ft. Companies already located at Kings Hill include: V I E First Floor 4,973 462.0 W

8 kings Hill • Kimberly Clark • Rail Europe • Barclays Bank 2 A2 AVE Second Floor 4,973 462.0 HILL S • Charities Aid Foundation • Man Group • Marsh G IN K Total 14,857 1,380 • ADT Fire and Security • Rolex • Kent County Council

Location To

Kings Hill is strategically located between Sevenoaks and Maidstone on the A228 and is 3 miles south of Junction 4 of the M20, providing a direct link to the M26 LONDON M25 A2 and M25, and from there to Heathrow, Gatwick and MARGATE 3 M2 Stansted Airports. This three mile link between the M20 M20 RAMSGATE A299 and Kings Hill Business Park is dual carriageway and M26 M25 4 therefore access to the motorway network is easy. 5 CANTERBURY 7 KINGS A28 MAIDSTONE A2 The Channel Tunnel is some 38 miles to the east on HILL TONBRIDGE M20 the M20. West Malling station is within a mile and ASHFORD DOVER there is a regular train service to London Victoria and TUNBRIDGE Gatwick WELLS A28 FOLKESTONE Blackfriars stations from West Malling with an average M23 A26 A21 journey time of around 55 minutes. Bus services link surrounding villages and towns and a shuttle provides A23 A259 a service between Kings Hill and the station. HASTINGS

BRIGHTON EASTBOURNE Tenure

The property is held by way of a 200 year lease from 29 August 1990 expiring 2190 at a peppercorn ground rent.

Tenancy

The entire property is let to Vertex Law LLP for a term of ten years from 1st April 2008 on full repairing and insuring terms at a rent of £335,788 per annum plus VAT, subject to an upward only review on 1st April 2013.

Tenant Covenant

Vertex Law LLP was formed in 2004. Their first office was at 39 Kings Hill Avenue and in 2008 they moved to Kings Hill Avenue, taking better quality space and to allow for future expansion. The firm specialises in Sterling insurance RAIL EUROPE a number of areas including, corporate, real estate and banking and finance – full details are available on www.vertexlaw.co.uk kimberly clarke liberty square “The firm has a strong reputation in the healthcare, food, technology and local government sectors” (Chambers ROLEX UK Legal Guide 2011). capital enterprise centre The firm has a Dun & Bradstreet Credit Rating of E, representing a “lower than average” risk of business failure. regUs

kent county council

Underlettings MAIN ENTRANCE

Vertex Law has sublet the first floor to SCA Recycling david lloyd UK Ltd and part of the ground floor to the partners of CHARITIES AID FOUNDATION Smiths Gore – further information is available from the joint agents. Capital Allowances

No Capital Allowances have been claimed and, from a report prepared by Jackson Rowe, we understand that allowances of over £600,000 are likely to be available to the purchaser. We estimate that these would amount to a saving of close to £100,000, to a 40% tax payer, over the first five years of ownership.

Proposal

We are instructed to seek offers in the region of £3,750,000 for our client’s long leasehold interest, reflecting a net initial yield of 8.46% allowing for usual purchaser’s costs of 5.8%, subject to contract and exclusive of VAT.

For further information, or to arrange an inspection of the property, please contact either of the joint agents:

Dougie Lawson, Lawson & Partners Jeff Moys, Bracketts 020 7647 6941 01732 350503 [email protected] [email protected] 1. Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by DJ Lawson and Partners LLP or Bracketts in the particulars or by word of mouth or in writing (“information”) as being factually accurate about the property, its condition or its value. Neither or DJ Lawson and Partners LLP or Bracketts LLP have the authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). 2. Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only.3. Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct.4. VAT: The VAT position relating to the property may change without notice. DJ Lawson and Partners LLP is a limited liability partnership registered in with registered number OC336543. The registered office is 7-8 Conduit Street, London, W1S 4XF. impact01622 833880/ www.impact-im.co.uk (D9396/LU) Bracketts LLP is a limited liability partnership registered in England with registered number OC362177. The registered office is 27-29 High Street Tunbridge Wells Kent TN1 1UU. The date of this publication is September 2011.