Telford Plaza Ironmasters Way Telford Shropshire TF3 4NT

Telford Plaza
Ironmasters Way
Telford
Shropshire
TF3 4NT

Substantial Modern Office Investment

Two office buildings totalling 163,685 sq ft
Tenants including CapGemini UK plc and Caffe Kix Limited
Moments from Junction 5 M54 leading to the A5 west and the M6 east
On-site parking for 630 cars
Rent £731,015 p.a.x. (gross)
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot
25
Auction
26th March 2015
Rent
£731,015 per Annum Exclusive
Status
Sold
Price
£3,000,000
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Helix Property Advisors

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Substantial Modern Office Investment

Two office buildings totalling 163,685 sq ft
Tenants including CapGemini UK plc and Caffe Kix Limited
Moments from Junction 5 M54 leading to the A5 west and the M6 east
On-site parking for 630 cars
Rent £731,015 p.a.x. (gross)
Buyer's Legal Report available <a href="/media/32613/buyers legal report v4.pdf" target="_blank" title="Buyers legal report available">here</a>

Lot 25
Auction 26th March 2015
Rent £731,015 per Annum Exclusive
Status Sold
Price £3,000,000
Sector
Office
Auction Venue
Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG
On behalf of Helix Property Advisors

Property Information

Location

Miles: 15 miles east of Shrewsbury, 15 miles north-west of Wolverhampton, 35 miles north-west of Birmingham
Roads: M54 (Junction 5), A5, A442
Rail: Telford Central Rail (30 mins to Birmingham New Street)
Air: Birmingham Airport

Situation

The property comprises two detached office buildings occupying a large site immediately north of the town centre, adjacent to the M54 motorway and within a short walk of Telford Rail Station. Telford Shopping Centre lies directly opposite the property with other nearby occupiers including Odeon, Park Inn
Hotel and Ramada Hotel.

Tenure

Virtual Freehold. Held from The Royal Bank of Canada Trust Corporation Limited (The Trustee of the Laser Richmount (Telford) Trust 1991/1992) for a term of 999 years from 15th September 2006 at a rent of £10,000 p.a. decreasing to £500 p.a. from 9th January 2027.

Location

Miles: 15 miles east of Shrewsbury, 15 miles north-west of Wolverhampton, 35 miles north-west of Birmingham
Roads: M54 (Junction 5), A5, A442
Rail: Telford Central Rail (30 mins to Birmingham New Street)
Air: Birmingham Airport

Situation

Tenure

Description

The property comprises two highly prominent office buildings, 12 storey Plaza 1
and 7 storey Plaza 2. Both buildings benefit from comfort cooling, raised floors,
suspended ceilings, passenger lifts and double height reception areas. The property also benefits from sole use of 630 car parking spaces and an approximate site area of 4.275 acres.

Six Week Completion

Buyer's Legal Report
For the ease and convenience of prospective buyers, to speed up the process of investigating a possible purchase and to minimise the legal costs an independent legal title report is available here.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Unit	Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x.	Reversion
Plaza 1	Basement	Office	72.74 sq m	(783 sq ft)	VACANT POSSESSION
	Ground	Car Parking – 51 spaces			CAPGEMINI UK PLC (1)	Monthly Licence (2)	£18,360	(2)
	Ground First Second Third- Front	Office Office Office Office	712.74 sq m 718.23 sq m 718.23 sq m 367.61 sq m	(7,672 sq ft) (7,731 sq ft) (7,731 sq ft) (3,957 sq ft)	CAPGEMINI UK PLC (1)	Approx 3 years from 24/06/2014 on four separate leases (3)	£200,835	30/06/2017
	Third - Rear	Office	387.68 sq m	(4,173 sq ft)	VACANT POSSESSION
	Fourth	Office	779.45 sq m	(8,390 sq ft)	VACANT POSSESSION
	Fifth	Office	779.45 sq m	(8,390 sq ft)	CAPGEMINI UK PLC (1)	Approx 3 years from 24/06/2014 (3)	£63,360	30/06/2017
	Sixth	Office	775.73 sq m	(8,350 sq ft)	VACANT POSSESSION
	Seventh	Office	779.45 sq m	(8,390 sq ft)	CAPGEMINI UK PLC (1)	Approx 3 years from 24/03/2014 (3)	£63,360	30/06/2017
	Eighth	Office	779.45 sq m	(8,390 sq ft)	VACANT POSSESSION
	Ninth	Office	777.59 sq m	(8,370 sq ft)	VACANT POSSESSION
	Tenth	Office	777.59 sq m	(8,370 sq ft)	VACANT POSSESSION
Plaza 2	Lower Ground	Office	172.23 sq m	(1,854 sq ft)	CAFFE KIX LIMITED	10 years from 19/08/2011 (4)	Turnover Rent	18/08/2021
	Ground, Part First & Third	Office	2,841.60 sq m	(30,587 sq ft)	CAPGEMINI UK PLC (1)	Approx 20 years from 09/08/2001 (5)	£385,100	08/09/2021
	Part First	Office	407.66 sq m	(4,388 sq ft)	VACANT POSSESSION
	Second	Office	1,119.76 sq m	(12,053 sq ft)	VACANT POSSESSION
	Fourth	Office	1,119.76 sq m	(12,053 sq ft)	VACANT POSSESSION
	Fifth	Office	1,119.76 sq m	(12,053 sq ft)	VACANT POSSESSION
Totals			15,206.71 sq m	(163,685 sq ft)			£731,015

(1) With almost 145,000 employees in over 40 countries, CapGemini is one of the world’s foremost providers of consulting, technology and outsourcing services. The Group reported 2014 global revenues of EUR 10.573 billion. (Source: www.uk.capgemini.com 23/02/2015)
(2) The car parking licence to CapGemini UK plc is at a rent of £360 per car parking space per annum and provides a mutual rolling option to determine subject toone month’s notice.
(3) Please note that all the Plaza 1 leases to CapGemini UK plc include car parking spaces. The rents stated are personal concessionary rents and not those documented in the leases. As per the leases, the tenant benefits from an option to renew the leases for the period 1st July 2017 until 30th June 2018 subject to options to determine on 30th September 2017, 31st December 2017 and 30th April 2018. Please see legal pack for further details.
(4) The lease to Caffe Kix Limited provides mutual options to determine on the fifth and seventh anniversary of the lease.
(5) As to the lease of the ground, part first and third floor of Plaza 2 to CapGemini UK plc, the lease provides a tenant option to determine on the fifteenth anniversary. The rent stated is a personal concessionary rent and not as documented in the lease. A 2011 rent review is still outstanding.