London House Primrose Hill Preston Lancashire PR1 4BX

London House
Primrose Hill
Preston
Lancashire
PR1 4BX

Office/Educational Investment

Majority let on a new five year lease comprising 2,525 sq m (27,187 sq ft) of office/educational accomodation
Close proximity to Preston City Centre
Nearby office occupiers include Job Centre Plus, Government Departments and Littlewoods Call Centre
For the Seller's Legal Pack, please click the Property Documents tab below

Lot
117
Auction
13th October 2016
Rent
£125,180 per Annum Exclusive
Status
Sold Prior
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG
On Behalf of a Major Fund Manager

Important Update Interested?

Expand
Photos
Map

Office/Educational Investment

Majority let on a new five year lease comprising 2,525 sq m (27,187 sq ft) of office/educational accomodation
Close proximity to Preston City Centre
Nearby office occupiers include Job Centre Plus, Government Departments and Littlewoods Call Centre
For the Seller's Legal Pack, please click the Property Documents tab below

Lot 117
Auction 13th October 2016
Rent £125,180 per Annum Exclusive
Status Sold Prior
Price
Sector
Office
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Squafre
London W1H 7BG
On Behalf of a Major Fund Manager

Property Information

Location

Miles: 16 miles east of Blackpool, 30 miles north west of Manchester, 31 miles north east of Liverpool
Roads: A6, A59, M6 (Junction 31)
Rail: Preston Rail
Air: Manchester International Airport

Situation

London House is located just 1 mile south east of Preston City Centre in a predominantly office and industrial area. The property occupies a prominent pitch on Primrose Hill just off the A6 (London Road) close to its junction with the A59, providing direct access to the M6 (Junction 31). Nearby office occupiers include Job Centre Plus, Government Offices and Littlewoods Call Centre.

Tenure

Long Leasehold. Held from Preston City Council for a term of 99 years from 01/02/1973 until 31/01/2072 at a rent of £11,500 pa. There are ongoing discussions with Preston City Council with regard to a new lease. Please refer to the legal pack.

Location

Miles: 16 miles east of Blackpool, 30 miles north west of Manchester, 31 miles north east of Liverpool
Roads: A6, A59, M6 (Junction 31)
Rail: Preston Rail
Air: Manchester International Airport

Situation

Tenure

Description

The property comprises a five storey office building with onsite parking for approximately 50 cars.

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 a five storey office building with onsite parking for approximately 50 cars.

VAT

VAT is applicable to this lot.

EPC

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

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x (Gross)	Review/(Reversion)
Ground First Second Third Fourth	Office/Educational Office/Educational Office/Educational Office/Educational Office/Educational	489.88 sq m 505.76 sq m 496.20 sq m 517.75 sq m 515.24 sq m	(5,273 sq ft) (5,444 sq ft) (5,341 sq ft) (5,573 sq ft) (5,546 sq ft)	TAUHEEDUL EDUCATION TRUST (1) (2)	A new five year lease	£110,000	(2021)
Roof Mast	-			ORANGE PERSONAL COMMUNICATIONS SERVICES LIMITED	Approximately 18 years and 4 months from 18/05/1998	£4,180	18/05/2013 (28/09/2016)
Roof Mast	-			EE LIMITED	20 years from 23/10/2002	£11,000	(22/10/2022)
Land	-			TRILLIUM (PRIME) PROPERTY GP LIMITED	99 years (less 3 days) from 01/02/1973	-	(28/01/2072)
Total		2,525.76 sq m	(27,177 sq ft)			£125,180

(1) Tauheedul Education Trust (TET) is one of the UK’s leading educational providers. London House is to be used as The Olive School which will provide a 420 place primary school. (Source: tetrust.org 19/09/2016)
(2) The lease provides a tenant only option to determine at the end of the second, third and fourth years of the term.