WOODCOTE GROVE • EPSOM • KT18 5BW PRIME SOUTH EAST PRE-LET FORWARD FUNDING OPPORTUNITY INVESTMENT SUMMARY • Located 500 metres south of Epsom town centre within easy walking distance of Epsom Station and The Ashley Centre • Attractive low density landscaped site totalling circa 2.89 hectares (7.14 acres) • A state of the art Grade A headquarters style office building anticipated to provide a NIA of 8,604 sq m (92,613 sq ft) over ground and two upper floors • Exceptional car parking ratio of 1:21.51 sq m (1:232 sq ft) • A highly specified building which will have a BREEAM rating of ‘Excellent’ and EPC rating of A • To be let to the secure covenant of Atkins Limited on an unbroken 25 year full repairing and insuring lease from practical completion and guaranteed by the tenant’s global parent company WS Atkins plc • Income protection through restrictions on assignment • A low anticipated annual rent from lease completion of £1,950,000 per annum, equating to only £227 per sq m (£21.06 per sq ft), over 30% below achieved rents within other comparable South East office markets, offering excellent long term value protection • Five yearly upwards only rent reviews linked to the “All Items” Retail Prices Index, capped at 4% per annum • Freehold • Practical completion targeted for September 2017, with site works set to begin in January 2016 • Cushman & Wakefield are instructed to seek a full forward funding proposal for the development based upon a price in excess of £41,600,000, subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 4.60%, assuming purchaser’s costs of 1.80% and a low capital price of £4,835 per sq m (£449 per sq ft) 2 Woodcote Grove provides an investor with the opportunity to forward fund a South East, state of the art headquarters style office building which will be let to Atkins Limited and guaranteed by WS Atkins plc. The lease will be for 25 years at a rent anticipated to reflect only £227 per sq m (£21.06 per sq ft) and subject to five yearly rent reviews linked to RPI 3 M25 A40 London 15/4b 4 Chiswick EPSOM 3 M4 2 1 A4 A4 A4 The prosperous Surrey town of Epsom is located within the M25, 31 km (20 miles) south 14 Heathrow Putney west of Central London and 38 km (23 miles) south east of Heathrow Airport. Richmond Twickenham 13 A30 A244 A3 It is the dominant commercial centre within the district of Epsom and Ewell, which itself A316 A24 A33 A308 Wimbledon has an estimated resident population of 75,100 (2011 Census). This has increased by A23 A333 Staines 1 11.9% in the 10 years to 2011, and the district now has a primary catchment of 165,000 A3333 Kingston-upon-Thames Mitchem (Promis, 2015). 12/2 M3 Walton-on-Thames Weybridge Croydon Epsom’s socio-economic demographics are excellent as it is home to an above average 11 A317 proportion of adults categorised as belonging to the most affluent social groups, with Sutton A3 almost 58% of the population employed in professional and managerial occupations, M25 significantly above the national average of 44% (ONS, 2015). The town also enjoys an A243 A217 Cobham exceptionally low level of local unemployment, with just 0.6% of the population out of 10 Banstead A21 Woking A24 work, compared to the national average of 5.4% (Promis, 2015). 9 A23 9 A3 Leatherhead A217 The town’s racecourse is globally renowned for hosting the Derby Stakes since 1880, 7 commonly known as the Epsom Derby. The popularity of Epsom is further enhanced M25 by its large range of leisure amenities, including championship golf courses at Epsom A246 7 8 A23 A24 Downs Golf Club and Horton Park Golf Club. Guildford Reigate M23 Dorking A25 Gatwick 10 miles South Not to scale 4 COMMUNICATIONS ROAD RAIL AIR Epsom is located within 7 km (4 miles) of the M25, which The town benefits from direct services to London Waterloo, Epsom benefits from excellent access to the UK’s two is accessed via Junction 9 to the south west. The M25 London Victoria and London Bridge, with a fastest journey largest airports. provides access to the UK’s wider national motorway time of circa 36 minutes. Completed in 2013, Epsom network, most immediately to the M3, M4, M40 and M23. Station was subject to a £20 million redevelopment that London Heathrow, one of the world’s busiest airports, is The A3 is located 9 km (6 miles) to the north which links has considerably improved commuter facilities and station located 38 km (23 miles) north west of the town and can be the town to West and Central London. infrastructure. Woodcote Grove is linked to the station by a accessed via Junction 9 of the M25. In 2014 over 470,000 regular bus service (406/418) from Woodcote Green Road. flights departed Heathrow to 185 destinations worldwide, with the airport serving 73.4 million passengers. Destination Destination Frequency Journey Time A third runway at Heathrow has now been identified by M25 7 km 4 miles London Waterloo 4 trains per hour 36 mins the Airports Commission as the preferred option for the Central London 31 km 20 miles London Victoria 5 trains per hour 38 mins expansion of the UK’s airport capacity, something which is Heathrow 38 km 23 miles London Bridge 5 trains per hour 44 mins expected to have significant economic and infrastructure benefits for the locality. Gatwick 30 km 19 miles Epsom has been identified by the Mayor of London as being M3 29 km 18 miles on the preferred route of the proposed Crossrail 2 line, with Gatwick Airport, the UK’s second largest airport, handled M4 39 km 24 miles works potentially starting as early as 2019. Although still 38.1 million passengers in 2014 and is located 30 km (19 within the planning and development phase, it is estimated miles) to the south east. that Crossrail 2 could reduce journey times from Surrey into Central London by 17 minutes. It is hoped it’s development will mirror the economic benefits attributed to the pending opening of Crossrail. www.crossrail2.co.uk. 5 EPSOM GOLF COURSE EPSOM DOWNS RACECOURSE RAC WOODCOTE PARK COUNTRY CLUB EPSOM COLLEGE EPSOM HOSPITAL B290 J9 M25 Ashley Road Dorking Road A24 Church Street NUFFIELD HEALTH HOSPITAL A24 THE ASHLEY CENTRE Upper High Street A24 A24 EPSOM For identification purposes only 6 HAZON WAY W A SITUATION T E R L O O R The site is located approximately 500 metres (0.3 miles) south of Epsom town O Epsom Station A A24 D ACH T centre and within a 15 minute walk of Epsom Station and the leisure and RO REE PP ST N A IGH retailing amenity of the town, including The Ashley Centre where retailers include TIO H STA WE ST S Waitrose, Next, Boots and Monsoon. TRE ET TREET S IGH A H S H L E Upon completion the building will be situated in an attractive landscaped Y T R T E HE E O PARA A R DE D parkland setting with mature trees. The RAC Woodcote Park Country Club and T T S E The Ashley Centre E T R Epsom Downs Racecourse are situated further to the south. Dorking Road (A24) S T E S H W T is situated to the north west of the site and provides direct access to the town U O S UE AVEN centre to the north and J9 of the M25 to the south west. ASHLEY Nuffield Health Mounthill Hospital SITE Gardens Rosebery Park The new office building will sit upon a broadly rectangular flat site which totals A approximately 2.89 hectares (7.14 acres). Access to Ashley Road is provided from S H L E its eastern most point. A24 Y R O A D D A O R The land and buildings situated along the south western boundary of the site G IN K R have been retained by Atkins and benefit from rights of way over the access road DO and car park. W A O OAD SH O E R AV LE D C Y O RO T E A R Junction 9 M25 D O A B D D 2 A 9 O 0 R WORPLE WOODCOTE GROVE C H A LK L A N Not to scale E 7 PROPOSED MASTER PLAN THE BUILDING The building will comprise a state of the art headquarters style office development. It will include a newly constructed car park to the north of the site, providing circa 400 spaces at an exceptional ratio of 1:21.51 sq m (1:232 sq ft). Constructed over part basement, ground and two upper floors the building is targeted to provide a total net internal floor area of 8,604 sq m (92,613 sq ft), over three evenly sized floor plates. The offices will be constructed around a central 15m full height atrium and benefit from two entrances and cores, providing divisible floorplates capable of flexible occupation as illustrated on the floor plans adjacent. The property will benefit from excellent levels of natural daylight and be constructed to accommodate a base occupancy of one workspace per 8 sq m (86 sq For identification purposes only Not to scale ft) NIA. 8 SPECIFICATION FLOOR PLANS Storage Henry Boot will undertake the building’s Cat A works to the specification set out PROPOSED GROUND FLOOR Riser below: • Floor to ceiling heights of circa • Fully accessible raised floors 2.60m (450mm void) • Suspended acoustic raft ceilings • One 2,000kg goods lift Female Toilet Male Toilet with LG7 compliant lighting • Male and female WCs on each floor Atrium Circulation Male Toilet Entrance Lobby • Chilled ceiling cooling system • 100 cycle racks Female Toilet • Two 17-person passenger lifts • 20 showers and 100 lockers Further and more detailed information regarding the specification of the office building is provided within the data room.