Multi Let Highly Reversionary Cbd Office Investment
Total Page:16
File Type:pdf, Size:1020Kb
On behalf of Jolivet Group, Guernsey www.jpmrealestate.co.uk MULTI LET HIGHLY REVERSIONARY CBD OFFICE INVESTMENT No1 Tithebarn Street Liverpool L2 2QP MULTI LET REVERSIONARY CBD OFFICE INVESTMENT INVESTMENT SUMMARY n Multi let office investment of 113,554 sq ft n Situated above Moorfield’s train station in Liverpool’s Central Business District n Extensive refurbishment to the majority of the building including extended and re-modelled reception in 2010 n Flexible floor plates from c. 15,000 sq ft allowing sub division n Current passing rental of £682,182.50 pa n Highly reversionary with 41,957 sq ft vacant n ERV in the order of £1,135,730 pa n Offer in excess of £8,000,000 (Eight Million Pounds) reflecting a8.06% initial yield and an ultimate reversionary yield of 13.42%. n Low capital value of only £74.54 psf MULTI LET REVERSIONARY CBD OFFICE INVESTMENT 37 27 39 7 33 25 8 40 28 9 19 6 43 4 26 29 20 5 32 2 14 21 30 10 22 18 11 34 38 16 42 23 41 35 1 41 31 15 3 13 36 17 12 24 Roads Landmark buildings Hotels Leisure and retail Public Transport 1 Tithebarn Street 6 India Building 12 The Plaza 18 Crowne Plaza 25 Liverpool One 33 Mersey Ferries 39 Bus Interchange 2 Castle Street 7 Port of Liverpool Building 13 Exchange Station 19 62 Castle Street 26 San Carlo 34 Crowne Plaza Health Club 40 James Street Merseyrail Station 3 Old Hall Street 8 Cunard Building 14 The Town Hall 20 Hard Days Night Hotel 27 Albert Dock 35 Panoramic Restaurant 41 Moorfields Merseyrail Station 4 The Strand 9 The Royal Liver Building 15 Daily Post & Echo 21 The Racquet Club 28 Simply Heathcotes 36 Filini Restaurant 42 Queensway Tunnel exit 5 Water Street 10 20 Chapel Street 16 The Capital 22 Thistle Hotel 29 Restaurant Bar and Grill 37 Echo Arena and Convention 43 New Cruise Liner terminal 11 Exchange Flags 17 St Paul’s Square 23 Malmaison 30 Western Approaches Centre 24 SAS Radisson 31 Starbucks 38 Met Quarter 32 Piccolino Restaurant 14 13 12 BLACKPOOL A59 32 3 A671 M55 1 4 11 M6 10 A6 A666 9 A59 8 Burnley A583 M65 31 7 Preston A677 6 Accrington Blackburn 30 A646 A59 A582 A53 5 A646 MULTI LET REVERSIONARY29 CBD OFFICE INVESTMENT 29 3 4 Halifax 1 M65 A56 Rawtenstall Leyland 28 Darwen A644 A565 8 Southport M6 Chorley 1 LOCATION A59 A58 Huddersfield A570 M61 M66 A629 21 A58 Bolton Rochdale Liverpool is the fifth largest urban centre in A5209 27 2 A58 20 A58 3 Ormskirk 6 A676 19 the UK with a population of circa 1.5million, A565 A666 A56 M62 5 Skelmersdale Wigan Oldham more than 38,000 businesses and an economic 3 4 4 M61 19 A59 5 26 3 17 20 M58 16 21 output of £25billion per annum. It is an M6 A576 22 1 A627 25 A570 A580 integral part of the thriving North West 7 A58 Salford A628 24 A580 12 M602 1 A6010 A5036 3 23 economy, which is the second-largest in the 6 11 A580 23 4 10 A5053 St Helens Manchester 24 3 UK after London and the South East, with a A565 M57 9 M62 A5103 3 A58 8 Wallasey 22 A57 7 population of 7 million, more than 250,000 A554 102 11 A5058 10 6 A6 25 A57 21A 26 1 9 5 A34 27 5 M62 A56 M60 businesses and an economic output of 6 7 A553 1 A579 4 3 2 Stockport 2 Liverpool A57 21 3 2 1 Warrington Altrincham £120billion per annum. Birkenhead A5300 4 3 5 A41 20 M56 8 7 6 PRESTATYN Bromborough A561 Widnes 9 The city is one of the UK’s fastest growing economic regions A56 Manchester A6 LLANDUDNO 4 Airport River Mersey 10 A523 and is the principal commercial and administrative centre for M6 RHYL Liverpool A557 11 M53 Merseyside. The city has undergone a remarkable renaissance COLWYN BAY John Lennon 12 19 5 6 Airport A34 A55 RHUDDLAN A5151 7 over the past 10 years with over £5billion of inward investment A533 A540 8 A547 A525 A55 Hollywell 9 M56 A556 A537 delivered through private and public sector partnership. Further A55 A550 Ellesmere A623 Port A56 14 investment such as ‘Liverpool Waters’ and the continuing bi- A548 ST. ASAPH 10 A548 A49 A537 11 15 Macclesfield annual International Festival of Business are expected to continue A525 M6 A537 A5117 A41 A473 A541 A548 A5026 the success of the city.A6 In 2008, Grosvenor delivered the renowned M53 A548 A5116 A556 A34 Liverpool One retail and leisure development. 12 A54 A533 A494 A51 18 A544 Chester A513 B5129 A54 DENBIGH A49 Middlewich TheA53 city is home to a number of international and national A543 A549 A55 Congleton A523 businesses such as Jaguar Land Rover, Santander, Royal Sun A525 17 Alliance and QVC. Many large public sector organisations also have A41 A50 a presence in the city including HMRC and Customs and Excise. A34 A51 M6 A530 Merseyside has established itself as one of the UK’s main contact ONE OF A534 Alsager Crewe centre locations for companies such as HSBC and BT. A534 A527 THE UK’S A534 A53 A500 16 A49 Nantwich A500 The Port of Liverpool is one of the UK’s busiest container ports Wrexham handling 700,000 containers per year. The new deep water port at FASTEST A41 A520 A34 Liverpool2 will increase its capacity to accommodate the larger A51 Newcastle- Stoke GROWING Under-Lyme 0n-Trent Post-Panamax containers; the only other ports capable of handling such vessels are Southampton and Felixstowe. A525 15 ECONOMIC A50 Whitechurch A51 REGIONS A34 A520 A53 Market A519 Stone Drayton Yarnfield A5013 A34 A51 A518 A41 A519 14 Stafford B5405 A518 MULTI LET REVERSIONARY CBD OFFICE INVESTMENT COMMUNICATIONS Liverpool is located 212 miles (340 km) north west of London, 98 miles (157 km) north west of Birmingham and 32 miles (52 km) to the west of Manchester. The city has excellent road communications being served by the Mersey Ferries operate direct cross-river services 7 days a week M62, M57, and M58 which provide easy access to the M6 which is between the Pier Head and Seacombe, Wirral with a journey time of approximately 17 miles to the east. 10 minutes. P&O and Norfolkine Irish Sea also offer daily services to Dublin, Belfast and the Isle of Man. In addition, Liverpool is Liverpool Lime Street provides regular, direct rail services to establishing itself as a major cruise liner terminal now offering London Euston with approximate journey times of 2 hours 10 turnaround services. minutes. Journey times to Manchester are as low as 35 minutes. Liverpool John Lennon Airport is located 6 miles to the south east Liverpool has an excellent, electrified suburban rail network of the city centre. The airport is one of Europe’s fastest growing including an underground loop linking the stations at James Street, and now serves 60 destinations and 5.3million passengers annually. Moorfields and Central to Lime Street. The Old Hall Street entrance Manchester Airport (situated 34 miles to the east) is the UK’s third to Moorfields station is under No. 1 Tithebarn. largest serving 200 destinations and 19 million passengers annually. MULTI LET REVERSIONARY CBD OFFICE INVESTMENT SITUATION No. 1 Tithebarn is an imposing building on the A Y W corner of Tithebarn Street and Old Hall Street S Y N G A K I S W N G K I within Liverpool’s Central Business District. St Paul’s Square, which is Liverpool’s principal new office T development, is situated 200m to the north whilst the traditional T R E E D S S L E E office core including Exchange Flags is situated immediately to the south. As such, No. 1 Tithebarn is literally at the heart of E A S Liverpool’s office district. T P A S T L O T L E C L R H E M U R D C H I B E L L R A H W A Y A The building benefits from exceptional access to public transport E T L H A T T L S A T H T T L O with its own entrance to Moorfields station and the full range of D ST PAUL’S E S L E N R T WALKER ART T R E S R A G T T E GALLERY city centre amenities are available within a few minutes’ walk of E R S A R W R T P E E EXCHANGE N S T D E D R STATION R E the building. Liverpool ONE and the Waterfront are within 10 E E L I T A N A N B D G E C minutes’ walk. N H E I T T S I E K THE T M E P CAPITAL O ST GEORGES’S R A O T R N R HALL PRINCES F S S A T E IE DOCK L J D W E DS O E X H E C N M Q T S I 20 E H E A L L U R A 20 CHAPEL T EXCHANGE N N A S E STREETST L EXCHANGEFLAGS G Y E E T P FLAGS E A S E LIVERPOOL H T R C T LIME STREET S TOWN K STATION HALL O O C METQUARTER SHOPPING CENTRE ST JOHN’S SHOPPING CENTRE S T R T E T H A E W INDIAINDIA ROYAL LIVER ROYAL LIVER S BUILDINGBUILDING S T BUILDINGS T K BUILDING R I C A W S CLAYTON N U N D R SQUARE CUNARDCUNARD B BUILDING ET BUILDING E R T L S E S ) N E QUEEN ELIZABETH II N PORT OF LIVERPOOL M U PORT OF LIVERPOOL A LAW COURTS T BUILDING J Y BUILDING E S R E M T ( T E Y H E A E R T W S S S T R N R E E V E A O U N N Q D A MANN H ISLAND L G P N I N C A N n Retail District n Central Business District MULTI LET REVERSIONARY CBD OFFICE INVESTMENT DESCRIPTION The property comprises a six storey building built directly on top of Moorfield’s train station with retail units at ground and mezzanine levels and offices above.