Derwent House 42-46 Waterloo Road Wolverhampton WV1 4XB

  • Derwent House<br>42-46 Waterloo Road<br>Wolverhampton<br>WV1 4XB

Derwent House
42-46 Waterloo Road
Wolverhampton
WV1 4XB

Freehold Office Investment

  • Tenants include Hays Specialist Recruitment Limited, Pearson Driving Assessments Limited, Remploy Limited
  • City centre location within heart of Commercial Quarter
  • On-site parking
  • Nearby occupiers include Wolverhampton City Council, Wolverhampton Magistrates Court, Civic Hall, Carillion and University of Wolverhampton
  • Six Week Completion Period Available
  • Lot
    46
  • Auction
    6th December 2012
  • Rent
    £100,854 per Annum Exclusive
  • Status
    Sold
  • Price
    £500,000
  • Auction Venue
    Millennium Hotel
    39-44 Grosvenor Square
    London W1K 2HP
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Freehold Office Investment

  • Tenants include Hays Specialist Recruitment Limited, Pearson Driving Assessments Limited, Remploy Limited
  • City centre location within heart of Commercial Quarter
  • On-site parking
  • Nearby occupiers include Wolverhampton City Council, Wolverhampton Magistrates Court, Civic Hall, Carillion and University of Wolverhampton
  • Six Week Completion Period Available
  • Lot 46
  • Auction 6th December 2012
  • Rent £100,854 per Annum Exclusive
  • Status Sold
  • Price £500,000
  • Sector
    Office
  • Auction Venue
    Millennium Hotel
    39-44 Grosvenor Square
    London W1K 2HP

Property Information

Location
Miles
17 miles north-west of Birmingham 17 miles west of Telford
Roads
A4150, A41, M6 (Junction 10)
Rail
Wolverhampton (1 hour 49 minutes direct to London Euston)
Air
Wolverhampton (5 miles), Birmingham International (19 miles)
Situation

The property is situated on a prominent corner location of Waterloo Road and St Peters Ring Road (A4150) within the heart of Wolverhampton Commercial Quarter. Nearby occupiers include Wolverhampton City Council, Wolverhampton Magistrates Court, Civic Hall, Carillion and University of Wolverhampton.

Tenure

Freehold.

Location
Miles
17 miles north-west of Birmingham 17 miles west of Telford
Roads
A4150, A41, M6 (Junction 10)
Rail
Wolverhampton (1 hour 49 minutes direct to London Euston)
Air
Wolverhampton (5 miles), Birmingham International (19 miles)
Situation

The property is situated on a prominent corner location of Waterloo Road and St Peters Ring Road (A4150) within the heart of Wolverhampton Commercial Quarter. Nearby occupiers include Wolverhampton City Council, Wolverhampton Magistrates Court, Civic Hall, Carillion and University of Wolverhampton.

Tenure

Freehold.

Description

The property comprises a substantial and prominent office building on ground, first, second, third and fourth floors, benefiting from central heating and a passenger lift. There is rear access to the building via the off-street parking.

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 substantial and prominent office building on ground, first, second, third and fourth floors, benefiting from central heating and a passenger lift. There is rear access to the building via the off-street parking.

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 Reviews/(Reversion)
Ground – Left Office
235.05 sq m

(2,530 sq ft)

REMPLOY LTD (1)

10 years from 07/01/2004 £21,200 (06/01/2014)
Ground – Right Office
112.88 sq m

(1,215 sq ft)

TOBY SHAW & IAN ROBERTS (5)

10 years from 26/03/2003 £11,500 (25/03/2013)
First – Part Office
220.46 sq m

(2,373 sq ft)
HAYS SPECIALIST RECRUITMENT LIMITED (2)
10 years from 10/03/2010 until 09/03/2020 (3) £22,600 10/03/2015
First – Part Office
233.74 sq m

(2,516 sq ft)
VACANT AND TO LET
     
Second – Part Office
310.20 sq m

(3,339 sq ft)
PEARSON DRIVING
ASSESSMENTS LIMITED (4)
10 years, 4 months and 6 days from 25/05/2004 £26,720 (30/09/2014)
Second – Part Office
151.15 sq m

(1,627 sq ft)

VACANT AND TO LET

     
Second – Part Office
283.26 sq m

(3,049 sq ft)

SEETEC BUSINESS TECHNOLOGY
CENTRE LIMITED (6)
Tenancy at will from
12/09/2012 (7)
£18,834 N/A
Third & Fourth Office
1,113.16 sq m

(11,982 sq ft)
VACANT AND TO LET
   
Totals  
2,659.90 sq m
(28,631 sq ft)
    £100,854  

(1) Remploy is the UK’s leading provider of employment services. Helping to support disabled jobseekers and working with employers and partners. Remploy was established in 1945 under the 1944 Disabled Persons (Employment) Act. (Source: www.remploy.co.uk/about us/whoweare.ashx 31/10/2012)
(2) Hays Specialist Recruitment Limited is the leading global specialist recruitment group, and the market leader in the UK and Australia, placing professional candidates into permanent, temporary and interim jobs. Employing over 7,900 people worldwide, in over 247 offices in 33 countries. (Source: www.hays.co.uk/about-hays/index.htm 31/10/2012)
(3) The lease provides for a tenants option to determine the lease on 09/03/2013; 09/03/2016; 09/03/2019.
(4) For the year ending 31/12/2011, Pearson Driving Assessments Limited reported a turnover of £47,874,000, a pre-tax profit of £10,078,000 and a total net worth of £16,683,000. (Source www.riskdisk.co.uk 31/10/2012)
(5) Sub-let to Destiny Recruitment Agency Limited.
(6) For the year ending 31st March 2011, Seetec Business Technology Centre Limited reported a turnover of £53,457,888, a total net worth of £15,985,222 and a pretax profit of £14,641,639. (Source: riskdisk.com 09/11/2012)
(7) Terms of lease being negotiated.

Contacts

Acuitus
John MehtabJohn Mehtab +44 (0)20 7034 4855 +44 (0)7899 060 519john.mehtab@acuitus.co.uk
Peter CunliffePeter Cunliffe +44 (0)20 7034 4850peter.cunliffe@acuitus.co.uk
Seller's Solicitors
Manuel Swaden Solicitors 340 West End Lane
London
NW6 1LN
Jeremy Manuel 0207 431 4999jeremym@manuelswaden.co.uk

Useful Links

Acuitus Finance
Stuart BuchananStuart Buchanan +44 (0)20 7034 4850 +44 (0)7879 432868stuart.buchanan@acuitus.co.uk

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