Paramount House Business Centre Delta Way Egham Surrey TW20 8RX

Paramount House Business Centre
Delta Way
Egham
Surrey
TW20 8RX

Freehold Modern Office Investment

Strategically located close to M3, M25 and Heathrow Airport
Rare opportunity to acquire freehold office in popular and affluent Surrey town
To be entirely let to True Holdings (Dorking) Limited
New 15 year lease from completion (subject to mutual options)
Approximately 14,646 sq ft NIA (16,395 sq ft GIA) (3)
Opportunity to increase Net Lettable Area within building
Refurbishment programme carried out in 2014

Lot
37
Auction
7th December 2017
Rent
£225,000 per Annum Exclusive
Status
Withdrawn Prior
Price
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

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Freehold Modern Office Investment

Strategically located close to M3, M25 and Heathrow Airport
Rare opportunity to acquire freehold office in popular and affluent Surrey town
To be entirely let to True Holdings (Dorking) Limited
New 15 year lease from completion (subject to mutual options)
Approximately 14,646 sq ft NIA (16,395 sq ft GIA) (3)
Opportunity to increase Net Lettable Area within building
Refurbishment programme carried out in 2014

Lot 37
Auction 7th December 2017
Rent £225,000 per Annum Exclusive
Status Withdrawn Prior
Price
Sector
Office
Auction Venue
The Radisson Blu Portman Hotel
22 Portman Square
London W1H 7BG

Property Information

Location

Miles: 8 miles north of Guildford, 13 miles north-west of Leatherhead
Roads: M3 (Junction 2), M4 (Junction 4B), M25 (Junction 12)
Rail: Egham Railway Station
Air: London Heathrow Airport

Situation

The property is located in Thorpe Industrial Estate, about 1.5 miles south of Egham town centre and Railway Station. The property, which is accessed via Thorpe Bypass and Ten Acre Lane, benefits from excellent communications, with access to both M25 and M3 motorways less than one mile away and Heathrow Airport lying less than five miles to the north-east. Other occupiers on the estate include Royal Mail, Brakes Group, Howdens Joinery, Maranello and Northgate Vehicle Hire. Thorpe Industrial Estate has seen a number of new developments in recent years.

Tenure

Freehold.

Location

Miles: 8 miles north of Guildford, 13 miles north-west of Leatherhead
Roads: M3 (Junction 2), M4 (Junction 4B), M25 (Junction 12)
Rail: Egham Railway Station
Air: London Heathrow Airport

Situation

Tenure

Freehold.

Description

The property was occupied by Enterprise Rent-A-Car as their European HQ for ten years. It comprises a standalone office currently being used as a business centre/serviced offices. The property is arranged over ground and first floors and has been configured to provide 20 serviced office suites. A refurbishment programme was carried out in 2014. The offices benefit from suspended ceilings, recessed lighting and comfort cooling along with parking for approximately 47 cars to the front and the rear.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

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

Description

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

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	Reviews
Ground First	Reception/ Offices Offices	872.90 sq m 487.70 sq m	(9,396 sq ft) (5,250 sq ft)	TRUE HOLDINGS (DORKING) LIMITED (1)	15 years from completion (2) on a full repairing and insuring lease	£225,000	5 yearly
Totals		1,360.60 sq m (3)	(14,646 sq ft) (3)			£225,000

(1) For the year ending 31st December 2016, True Holdings (Dorking) Limited reported a turnover of £1,553,219, profits of £259,262 and net assets of £4,709,679 (Source: Annual Report and Financial Staement Co. No. 69704 (Jersey)).
(2) The lease will provide for landlord and tenant options to determine at the fifth and tenth anniversary of the commencement of the term. The lease will be contracted outside the Security of Tenure provisions of the 1954 Landlord & Tenant Act.
(3) Whilst the floor area for the building as currently arranged is approximately 14,646 sq ft, the Gross Internal Floor Area is approximately 16,395 sq ft.

NB: The property is sublet to a number of licencees, including PNC Global Logistics and Contras International. In November 2017, the total gross revenue is £27,076 pcm (£324,906 pa) with an occupancy rate of approximately 86% by floorspace. Occupancy rates have not been lower than 80% since September 2015, having opened as a business centre/serviced office in September 2014. Please see the legal pack for comprehensive occupation reports.