FOR SALE Vale House, High Street, Winsford, CW7 2AS PROMINENTLY LOCATED WELL LET Prominently located Medical Centre in sought after market town MEDICAL CENTRE Well let to Cheshire & Wirral NHS Partnership Trust PRICE: £1,320,000 (Exclusive) Rent £109,000 per annum Showing a Net Initial Yield of 7.82 % after 2.7 years unexpired allowing for purchasers costs Future asset management potential FOR SALE Vale House, High Street, Winsford, CW7 2AS PRIME WELL LET MEDICAL CENTRE
Prominent location in the town centre of Winsford which is currently subject to significant inward investment
INVESTMENT SUMMARY ■ Well let to Cheshire & Wirrall NHS PARTNERSHIP Trust ■ Located in an area of considerable inward investment adjacent to Winsford Cross Shopping Centre ■ Rent £109,000 per annum ■ Existing medical centre which has been the subject of an extensive tenant fit out ■ 2.7 years unexpired ■ Total Net Internal Floor area of approximately 11,539 sq ft (1,072 m sq) ■ Future asset management ■ Low capital value of approximately £125 per sq ft (excluding the basement)
Winsford to Birmingham 67 miles Birmingham Airport 77 miles Winsford to Manchester 29 miles Liverpool Airport 24 miles Winsford to London 189 miles Manchester Airport 22 miles Stanstead Airport 189 miles
Winsford Train Station 2 miles Winsford to London 2 h 14 mins hallsgb.com 01743 450 700 FOR SALE Vale House, High Street, Winsford, CW7 2AS PRIME WELL LET MEDICAL CENTRE
SITUATION The subject property is located in the market town of Winsford on the town’s ring road(A54), at the junction of the A54 with Dene Drive.
The property is adjacent to the Winsford Cross Shopping Centre, which has been the subject of significant recent inward investment. Winsford Cross Shopping Centre dominates retailing in the town centre and is anchored by an adjoining Asda Foodstore with a strong footfall of circa 110,000 shoppers per week.
The property is in an area of the town that is considered to be strategically important by the local authority who recently acquired the Winsford Cross Shopping Centre. There are a variety of car parks close to the property together with the town’s library. The property is approached from Dene Drive, A54 and the Winsford Cross Shopping Centre.
The surrounding occupiers also include Peacocks, Nationwide, Ladbrokes, Aldi, Specsavers, Farmfoods and Wetherspoons. In the 2011 census, Winsford had a population of 30,259, with over 195,000 people within 20 minutes' drive time.
Winsford is located in the Chester West and Chester local authority and is approximately 7 miles north of Crewe, approximately 23 miles south-west of Manchester, 30 miles south-east of Liverpool, 23 miles east of Chester and 15 miles south of Warrington.
The general surrounding area has a strong demographic profile with a high proportion of wealthy executives and pensioners.
The town benefits from good transport links being situated on the A54, with access to the M6 at Junction 18 (4 Miles). hallsgb.com 01743 450 700 FOR SALE Vale House, High Street, Winsford, CW7 2AS PRIME WELL LET MEDICAL CENTRE
DESCRIPTION The premises comprise an existing medical centre arranged over the ground floor, first floor and basement areas, currently offering a reception area, consulting rooms and meeting rooms.
The property is of brick construction under a flat felt roof cover and internally has been the subject of a comprehensive tenant fit out for its current use as a medical centre by the NHS.
Further details are available from the selling agents upon request.
The property is on a Total Site Area of approximately 0.37 acres (0.15 hectares).
The property is arranged to provide a Total Net Internal Floor area of approximately 11,539 sq ft (1072 m sq) including basement.
ACCOMMODATION The property provides the following Net Internal Floor Area. The accommodation has been measured in accordance with the RICS Code of Measuring Practice.
sq m sq ft Basement 89 958 Ground Floor 623 6,706
First Floor 360 3,875 FOR ILLUSTRATIVE PURPOSES ONLY TOTAL 1,072 11,539
TOTAL SITE AREA 0.37 acres (0.15 hectares)
hallsgb.com 01743 450 700 Vale House, High Street, Winsford, CW7 2AS FOR SALE Vale House, High Street, Winsford, CW7 2AS PRIME WELL LET MEDICAL CENTRE
TENURE COVENANT Further information relating to the tenant is available at: The main part of the property is of freehold tenure under Property The property is let in its entirety to Cheshire and Wirral Partnership Title Number CH437585 (shown edged red on the plan within these NHS Foundation Trust which provides mental health services for http://www.cwp.nhs.uk/services-and-locations/locations/vale- particulars). There is an area of the property ownership which is children, adults and older people, as well as learning disability and house-resource-centre/ of long leasehold tenure under Property Title Number CH437593 drug and alcohol services. The CWP Annual Report can be viewed here: (shown edged blue on the plan within these particulars). The Trust Board offices are at Upton Lea Countess of Chester Health http://www.cwp.nhs.uk/media/4596/annual-report-and- The entire property is let to Cheshire and Wirral Partnership NHS Park, Liverpool Road, Chester, CH21 1BQ. accounts-18-19.pdf Trust on an original lease dated 18th June 2007 between Dr Declan Patrick Kelly, Dr Michael Paul Fallon and Dr Ranadhir Talukder and Foundation Trusts are special types of NHS Trusts that have more Cheshire and Wirral Partnership NHS Trust for a term of 15 years from freedom from Central Government. They are able to keep their 18th June 2007. financial surplus and reinvest it to improve services.
The lease is granted on a Tenants Full Internal Repairing and Insuring Cheshire and Wirral Partnership (CWP) has over 14,500 members lease at a current rent passing of £109,000 (one hundred and nine and employs more than 3,000 staff across 60 sites, serving a thousand pounds) per annum with a lease expiry on 17th June 2022. population of over a million people. In 2018/19, the Trust had an approximate annual turnover of £171.5m. There is a Deed of Variation dated 18th August 2010 bet ween Medical Property Solutions Limited and Cheshire and Wirral Partnership NHS Foundation Trust. Further details relating to the leases are available from the selling agents upon request.
hallsgb.com 01743 450 700 FOR SALE Vale House, High Street, Winsford, CW7 2AS PRIME WELL LET MEDICAL CENTRE
PRICE £1,320,000 (One million three hundred and twenty thousand pounds) exclusive showing a Net Initial Yield of 7.82% (after deducting normal purchasers' costs).
The purchase of the property investment is proposed to be completed as a TOGC (Transfer of a Going Concern).
EPC
Rating D (83)
Certificate Reference Number: 0280-0531-2839-1608-9002
PLANNING The property is located in the local authority of Chester West and Chester.
The property is understood to benefit from planning consent for Use Class D1 (Non domestic Institutions) of The Town and County Use Classes Order 1987.
The property forms part of an area of Winsford that is currently subject to considerable inward investment driven by the Local Authority’s ownership of the adjoining Winsford Cross Shopping Centre.
hallsgb.com 01743 450 700 Vale House, High Street, Winsford, CW7 2AS FOR SALE Vale House, High Street, Winsford, CW7 2AS PRIME WELL LET MEDICAL CENTRE
RATEABLE VALUE We have made verbal enquiries to the local charging authority and we advised as follows:
Rateable Value 2019/20 £49,250 Rates Payable 2019/20 £24,822
Interested parties should make their own enquiries to the local authority.
SERVICES (Not tested at the time of our inspection.)
Prospective purchasers are to rely on their own enquiries
All mains services are connected to the property. The property benefits from a gas fired central heating system.
LEGAL COSTS Each Party to be responsible for their own legal costs in respect of this transaction.
LOCAL AUTHORITY Cheshire West and Chester, 58 Nicholas Street, Chester, CH1 2NP
hallsgb.com 01743 450 700 FOR SALE Vale House, High Street, Winsford, CW7 2AS PRIME WELL LET MEDICAL CENTRE
VAT The property is understood to be elected for VAT.
It is proposed that the sale of the property should proceed via a Transfer of a Going Concern (TOGC) further details available upon request from the selling agents.
DATAROOM
Information relating to the property is available via the data room that has been prepared relating to this investment sale by the selling agents. Further information, including access arrangements to the Data Room, are available from the selling agents.
VIEWING
Strictly by prior arrangement with the Sole Agent. For more information or to arrange a viewing, please contact :
James Evans 07792 222 028 E: [email protected] Huw Bevan 07795 486 267 E: [email protected] Sarah Davies FOR ILLUSTRATIVE PURPOSES ONLY E: [email protected] Lucy Wilde E: [email protected] 01743 450 700
IMPORTANT NOTICE Halls have advised their clients on the Code of Practice for Commercial Leases in England and Wales. to make or give any representation or warranty whatsoever in relation to the property. iv) The images show only certain parts Halls, for themselves and for the vendor of this property, or as the case may be, lessor whose agent they are, given notice that: and aspects of the property at the time they were taken/created. Any areas, measurements or distances given are approximate i) These particulars are intended for guidance only. They are prepared and issued in good faith and are intended to give a fair only. Any plans are for identification purposes only. v) Any reference to alterations to, or use of, any part of the property is not description but do not consitute part of an over or contract. Any information given should not be relied on as a statement or a statement that any necessary planning, building regulations or other consent has been obtained. An intending purchaser representation of fact or that the property or its services are in good condition. ii) Halls have not made any investigations into must verify these matters. An occupier should not rely upon the Use stated in these particulars and should check their the existence or otherwise of any issues concerning pollution and potential land, air and water contamination. The purchaser proposed use with the relevant Planning Authority . is responsible for making his or her own enquiries in this regard. iii) Neither Halls nor any of their employees has any authority