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
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.
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
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.
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.
