FREEHOLD MULTI LET OFFICE INVESTMENT FOR SALEASHWELL POINT, DALES MANOR BUSINESS PARK, BABRAHAM ROAD, SAWSTON, CAMBRIDGE CB22 3LJ
2
Investment SummaryRare opportunity to acquire a freehold
multi let office on the established South
Cambridge Business Park - 7 miles south
of Cambridge City Centre
Low site cover of 20% - Site area of
1.54 acres (0.623 hectares) - Potential
for future redevelopment
Let to four tenants with two recently
re-geared leases providing a total of 1,779.12
sq m (19,151 sq ft) of office accommodation
An extremely attractive car parking ratio
of 1:190 sq ft (101 spaces)
WAULT of 5.09 years to expiry and 3.88 years
to break - all leases outside the L&T 1954 Act
A low passing rent of £315,991 per annum,
reflects an attractive rate of £16.50 per sq ft
Adjacent offices letting at £21.17 per sq ft.
We are of the opinion that the estimated
rental value is £335,142.50 (£17.50 per sq ft)
Asset management potential through
refurbishment and reletting at a higher rent,
or alternative uses, subject to planning
Medium term residential redevelopment
potential, subject to the necessary consents
Offers sought in excess of £4,235,000 for
the freehold interest, subject to contract and
exclusive of VAT, reflecting a net initial yield of
7.00% assuming standard purchaser’s costs
of 6.55% and a reversionary yield of 7.42%
ASHWELL POINT SAWSTON DALES MANOR BUSINESS PARK
Ipswich
Norwich
Felixstowe
A12
Harwich
M1
Leicester
Milton Keynes
Stansted
Ipswich
Norwich
King’s Lynn
Luton
PeterboroughPeterboroughPeterborough
Newmarket
Felixstowe
Harlow
A14
A14
A14A12
A11Northampton
Bury St. Edmunds
J19
A12Harwich
LONDONM4
Heathrow Airport
M25
M25
A1
A1
A1MM11
Not to scale - for indicative purposes only.
M6
M6
SawstonSawstonSawstonCambridgeCambridgeCambridge
33
Location The subject property forms part of Dales
Manor Business Park which is located off
Babraham Road at Sawston, 7 miles south
of Cambridge City Centre. The business
park is well positioned close to the A1307
for easy access to Cambridge city centre
and 2 miles from both Junction 10 of the
M11 and Junction 11 of the A11. The M11
provides access to London to the south
and Huntington and the Midlands via the
A14 to the north. The A11 connects to
the M11 to the south and provides access
to Norwich and the eastern roads to the
north. The A505 provides fast access to
the east and in turn to the A1(M).
ASHWELL POINT SAWSTON DALES MANOR BUSINESS PARK
Harston
To M25and London
Barton
Girton Milton
M11
M11
A14
A428
A10
A14
A1368
A603
A603
12
9
13
1432
33
11A1037
34
CAMBRIDGECAMBRIDGECAMBRIDGE
A11
A11A1307
A1301Duxford
LittleAbington
10
A505
B1052
A1301
Preferred route for HGV Access
Not to scale - for indicative purposes only.
BABRAHAM RD
SAWSTONSAWSTONSAWSTON
WhittlesfordWhittlesfordWhittlesford
Great ShelfordGreat ShelfordGreat Shelford
CambridgeCambridgeCambridge
9a
ASHWELL POINT SAWSTON DALES MANOR BUSINESS PARK
4
Situation Ashwell Point forms part of Dales Manor Business Park.
The two main industrial areas within Sawston are Dales
Manor Business Park to the northern side and Sawston
Trade Park to the southern side. Whilst Sawston Trade Park
has served predominately trade occupiers and smaller
industrial occupiers, Dales Manor Business Park is a far
larger estate and provides a broad mix of industrial,
warehouse, storage and office accommodation with
occupiers such as Unisurge International, Aspec Precision
Engineering, Morgan Sindall, AJW Distribution, Adwik, and
Ombar t/a Mood Foods Limited.
South Cambridgeshire Business Park is adjacent to the
property and provides approximately 66,000 sq ft of office
accommodation across 13 buildings. Immediately south of
Sawston centre on London Road the Howard Group have a
masterplan to develop a 260,000 sq ft business park
known as “Unity Campus” for which they are currently
seeking pre lets.
Bottisham
A143536
WhittlesfordWhittlesfordWhittlesford
SAWSTONSAWSTONSAWSTON
BABRAHAMBABRAHAMBABRAHAM
M11
M11
A11A1301
A1307
A1301
A11
A505
A505
CAUSEWAY
BRBA AH DA AM O R
10
GROVE ROADGROVE ROADGROVE ROADCAMBRIDGE ROADCAMBRIDGE ROADCAMBRIDGE ROAD
SAWSTONSAWSTONBY PASSBY PASSSAWSTONBY PASS
M11
THE SITE
6
4
3
N
J
1
A
G
H
F
10
19
H1
H3
M1
13
12
14
8684
8280
ES
S
Hall
Path
(um
)
Point
Bto D
7to
9
Ashwell
17to
18
EA
ST
WA
Dales Manor
Dales Manor
Business Park
Business Park
22
5
Description Ashwell Point is a self-contained, two storey 1960s brick
faced 'H' shaped office building under a pitched roof. Internally
the property comprises 1,779.12 sq m (19,151 sq ft) of office
accommodation.
The base internal specification includes; suspended ceilings
with recessed lighting, gas fired central heating and carpet tiles
throughout. Some areas have air-conditioning cassette units
that have been fitted by the tenants.
Externally the property provides 101 car parking spaces
(including 3 disabled spaces) which reflects an attractive
ratio of 1:190 sq ft. There are 10 fixed “Sheffield” style bicycle
lockups which provide space for a minimum of 20 bicycles to
be securely stored.
Meeting Room
S-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mmS-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1825mm
F-S 725mm
S-H 1825mm
F-S 725mm
S-H 1825mm
F-S 725mm
S-H 1825mm
F-S 725mmS-H 1825mm
F-S 725mm
S-H 1755mm
F-S 770mm
S-H 1825mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H
1
51
5m
m
F-S
1
01
0m
m
S-H
1
52
5m
m
F-S
1
02
0m
m
S-H
1
51
0m
m
F-S
1
02
0m
m
S-H
1
51
5m
m
F-S
1
02
0m
m
S-H 1150mm
F-S 1475mm
S-H
1
16
0m
m
F-S
1
40
0m
m
S-H 1815mmF-S 740mm
S-H 1815mmF-S 735mm
S-H 1815mmF-S 740mm
S-H
1
83
0m
m
F-S
7
40
mm
S-H
1
83
0m
m
F-S
7
40
mm
S-H 1810mm
F-S 735mm
S-H 1755mm
F-S 745mm
S-H 1755mm
F-S 745mm
S-H 1755mm
F-S 745mm
S-H 1815mm
F-S 735mm
S-H
1
51
5m
m
F-S
1
03
0m
m
S-H
1
51
5m
m
F-S
1
03
0m
m
S-H
1
52
0m
m
F-S
1
03
0m
m
S-H
1
51
0m
m
F-S
1
02
5m
m
S-H 685mm
F-S 1705mm
S-H 1815mm
F-S 700mm
S-H 1815mm
F-S 725mm
S-H 1815mm
F-S 720mm
S-H
1
82
0m
m
F-S
7
20
mm
S-H
1
81
5m
m
F-S
7
25
mm
S-H
1
82
0m
m
F-S
7
20
mm
S-H
1
82
0m
m
F-S
7
30
mm
S-H
1
82
0m
m
F-S
7
25
mm
S-H
1
83
0m
m
F-S
7
20
mm
S-H
1
82
0m
m
F-S
7
25
mm
S-H
1
83
0m
m
F-S
7
20
mm
S-H
1
83
0m
m
F-S
7
20
mm
S-H 1825mm
F-S 730mm
S-H
1
75
5m
mF
-S
77
0m
mS
-H
17
55
mm
F-S
7
70
mm
S-H 475mm
F-S 1690mm
S-H
1
83
0m
m
F-S
7
20
mm
S-H 1815mmF-S 735mm
S-H 1815mmF-S 735mm
X5
S-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1825mm
F-S 725mm
S-H 1825mm
F-S 725mm
S-H 1825mm
F-S 725mm
S-H 1825mm
F-S 725mm
S-H 1825mm
F-S 725mm
S-H 1755mm
F-S 770mm
S-H 1825mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H
1
51
5m
mF
-S
10
10
mm
S-H
1
52
5m
mF
-S
10
20
mm
S-H
1
51
0m
mF
-S
10
20
mm
S-H
1
51
5m
mF
-S
10
20
mm
S-H 1150mm
F-S 1475mm
S-H 475mm
F-S 1690mm
S-H
1
16
0m
m
F-S
1
40
0m
m
S-H 1815mmF-S 740mm
S-H 1815mmF-S 740mm
S-H 1815mmF-S 735mm
S-H 1815mmF-S 740mm
S-H
1
83
0m
m
F-S
7
40
mm
S-H
1
83
0m
m
F-S
7
40
mm
S-H 1810mm
F-S 735mm
S-H 1755mm
F-S 745mm
S-H 1755mm
F-S 745mm
S-H 1755mm
F-S 745mm
S-H 1815mm
F-S 735mm
S-H
1
51
5m
m
F-S
1
03
0m
m
S-H
1
51
5m
m
F-S
1
03
0m
m
S-H
1
52
0m
m
F-S
1
03
0m
m
S-H
1
51
0m
m
F-S
1
02
5m
m
S-H 685mm
F-S 1705mm
S-H 1815mm
F-S 700mm
S-H 1815mm
F-S 725mm
S-H 1815mm
F-S 720mm
S-H
1
82
0m
m
F-S
2
15
5m
mS
-H
18
20
mm
F-S
7
20
mm
S-H
1
81
5m
m
F-S
7
25
mm
S-H
1
82
0m
m
F-S
7
20
mm
S-H
1
82
0m
m
F-S
7
30
mm
S-H
1
82
0m
m
F-S
7
25
mm
S-H
1
83
0m
m
F-S
7
20
mm
S-H
1
82
0m
m
F-S
7
25
mm
S-H
1
83
0m
m
F-S
7
20
mm
S-H
1
83
0m
m
F-S
7
20
mm
S-H 1825mm
F-S 730mm
S-H
1
75
5m
mF
-S
77
0m
mS
-H
17
55
mm
F-S
7
70
mm
S-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1830mm
F-S 720mm
S-H 1825mm
F-S 725mm
S-H 1825mm
F-S 725mm
S-H 1825mm
F-S 725mm
S-H 1825mm
F-S 725mm
S-H 1825mm
F-S 725mm
S-H 1755mm
F-S 770mm
S-H 1825mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H 1825mm
F-S 720mm
S-H
1
51
5m
mF
-S
10
10
mm
S-H
1
52
5m
mF
-S
10
20
mm
S-H
1
51
0m
mF
-S
10
20
mm
S-H
1
51
5m
mF
-S
10
20
mm
S-H 1150mm
F-S 1475mm
S-H 475mm
F-S 1690mm
S-H
1
16
0m
m
F-S
1
40
0m
m
S-H 1815mmF-S 740mm
S-H 1815mmF-S 740mm
S-H 1815mmF-S 735mm
S-H 1815mmF-S 740mm
S-H
1
83
0m
m
F-S
7
40
mm
S-H
1
83
0m
m
F-S
7
40
mm
S-H 1810mm
F-S 735mm
S-H 1755mm
F-S 745mm
S-H 1755mm
F-S 745mm
S-H 1755mm
F-S 745mm
S-H 1815mm
F-S 735mm
S-H
1
51
5m
m
F-S
1
03
0m
m
S-H
1
51
5m
m
F-S
1
03
0m
m
S-H
1
52
0m
m
F-S
1
03
0m
m
S-H
1
51
0m
m
F-S
1
02
5m
m
S-H 685mm
F-S 1705mm
S-H 1815mm
F-S 700mm
S-H 1815mm
F-S 725mm
S-H 1815mm
F-S 720mm
S-H
1
82
0m
m
F-S
2
15
5m
mS
-H
18
20
mm
F-S
7
20
mm
S-H
1
81
5m
m
F-S
7
25
mm
S-H
1
82
0m
m
F-S
7
20
mm
S-H
1
82
0m
m
F-S
7
30
mm
S-H
1
82
0m
m
F-S
7
25
mm
S-H
1
83
0m
m
F-S
7
20
mm
S-H
1
82
0m
m
F-S
7
25
mm
S-H
1
83
0m
m
F-S
7
20
mm
S-H
1
83
0m
m
F-S
7
20
mm
S-H 1825mm
F-S 730mm
S-H
1
75
5m
mF
-S
77
0m
mS
-H
17
55
mm
F-S
7
70
mm
X9
First Floor
Ground Floor
ASHWELL POINT SAWSTON DALES MANOR BUSINESS PARK
THE SITE
6
Site The subject property comprises a site
area of 1.54 acres (0.623 hectares).
The building has an approximate
footprint of 13,500 sq ft which equates
to a very low site cover ratio of c. 20%.
Tenure Freehold.
Tenancies The property is let to four tenants in
accordance with the following tenancy
schedule on full repairing and insuring
terms with a service charge provision
for management of the communal
areas of the estate. All of the tenancies
are outside of the 1954 Landlord &
Tenancy Act Part II.
Service Charge The service charge expenditure for the
year ending 31 March 2018 was
£73,909 (£3.86 per sq ft). The budget
for the current year ending March 2019
is £64,000 (£3.34 per sq ft). There are
no shortfalls. Further information is
available upon request.
There is an estate service charge
payable for maintenance and upkeep of
the estate access roads within Dales
Manor Business Park which currently
totals £401.03 + VAT per quarter.
Tenant Area sq m Rent Per Annum ERV Lease Start Lease Expiry Comments .... (sq ft) (psf ) Per Annum (psf ) (Break)
Morgan Sindall 432 £76,807.50 £81,462.50 02/02/2018 01/02/2028 Construction & (4,655) (£16.50) (£17.50) (01/02/2023) Infrastructure Ltd
Frontier Silicon Ltd 925 £164,356.50 £174,317.50 02/02/2018 20/06/2023 Schedule of condition. ....... (9,961) (£16.50) (£17.50) 47 car parking spaces.
Innova Biosciences Ltd* 232 £41,134.50 £43,627.50 11/11/2015 10/11/2020 There is a rent review on 11/11/2018 to OMV. ..... (2,493) (£16.50) (£17.50) 13 car parking spaces.
Janus Technology Ltd 189 £33,693 £35,735.00 01/12/2014 30/11/2019 11 car parking spaces. ....... (2,042) (£16.50) (£17.50)
Total: 1,779 £315,991.50 £335,142.50 96 car parking spaces are demised, the remaining ...... (19,151) (£16.50) (£17.50) 5 are for visitors.
The current passing rent is £57,605.63 per annum. On 02/02/2019 there is a stepped increase to £64,006.25 per annum and on 02/02/2020 there is a final increase to £76,807.50 per annum which the vendor will ‘top up’.
On 02/02/2023 there is an upwards only review to OMV.
Schedule of condition.
25 car parking spaces.
ASHWELL POINT SAWSTON DALES MANOR BUSINESS PARK
*Innova Biosciences Ltd are currently not in occupation, but remain responsible for the lease.
37
Tenant Covenants
Frontier Silicon Ltd
... Frontier Silicon Ltd are a pioneer in digital audio and the Internet of
....... Things solutions as well as an electronic component manufacturer
.... and R&D company. They have recently achieved exciting new
involvement confirmed by Amazon to be an Alexa Voice Service Solutions Provider.
Frontier Silicon is now able to work with third party brands to integrate Amazon’s Alexa
voice assistant into smart IoT devices such as smart speakers and home security and
automation devices. Whilst their Cambridgeshire office is primarily used for R&D and
required to be close to Amazon, they also have offices in London, Hong Kong,
Shenzhen and Romania.
D&B Rating N2 Year to 31/12/2017 Year to 31/12/2016 Year to 31/12/2015
Turnover £41,046,000 £32,135,000 £31,721,000
Pre Tax Profit (Loss) £705,000 (£609,000) (£4,870,000)
Net Current Liabilities £8,745,000 £10,240,000 £12,514,000
Morgan Sindall Construction & Infrastructure Ltd
Morgan Sindall Construction & Infrastructure Ltd are the construction
division of the wider Morgan Sindall Group. Whilst they have 22 offices
across the country, Ashwell Point has been a historic location for the
firm, dating back to the Williams Sindall days.
Janus Technology Ltd
....... Janus Technology Ltd are a leading software consultancy
.......... and R&D company with specialist knowledge in technology
integration into building infrastructure. They have a specialist sub team focusing on
the “Smart Home” market and delivering solutions for businesses through the
Internet of Things. Some of their clients include Bose, Naim and Loewe.
Innova Biosciences Ltd
...... Originally a UK based company Innova Biosciences Ltd
..... have been establish for over 16 years and are specialist
providers of bioconjugation products and services as well as the manufacture of basic
pharmaceuticals. They were acquired by German pharmaceutical SYGNIS Pharma AG
in June 2017 for a sum of €11.5M due to their highly desirable range of antibody and
protein labelling products and services. As of 01/03/2018 SYGNIS has brought Innova
Biosciences and Expedeon Limited into the same group to form a powerful brand.
SYGNIS will continue to serve as Innova Biosciences’ ultimate parent company.
Accounts for Innova Biosciences are below:
D&B Rating 5A1 Year to 31/12/2017 Year to 31/12/2016 Year to 31/12/2015
Turnover £1,325,703,000 £1,261,995,000 £1,183,798,000
Pre Tax Profit (Loss) £18,482,000 £5,820,000 (£48,634,000)
Net Current Assets £23,877,000 £,4,108,000 (£1,944,000) (Liabilities)
D&B Rating A2 Year to 28/02/2017 Year to 29/02/2016 Year to 28/02/2015
Tangible Net Worth £144,854 £67,920 £82,091
Net Current Assets £135,469 £41,004 £58,669
D&B Rating O3 Year to 30/06/2016 Year to 30/06/2015 Year to 30/06/2014
Tangible Net worth £1,496,904 £1,258,233 £1,084,507
Net Current Liabilities £1,361,802 £1,082,643 £992,642
ASHWELL POINT SAWSTON DALES MANOR BUSINESS PARK
Occupational Market Dales Manor Business Park is situated on the "preferred"
south side of Cambridge, providing easy access to the M11
linking to London and the A11 to the rest of East Anglia.
Knowledge based industries now account for 30% of business
activity in Cambridge with Bio Tech, Digital Tech and High Tech
manufacturing accounting for an equal proportion of
knowledge based turnover which was up 16.2%.
Prime rents in Cambridge have continued to grow with a year-
on-year growth of 7.9% up to H2 2018 compared to 4.3% in
2017. Prime rents have broken the forty-pound mark hitting
an all new high of £41.00 psf. Cambridge is now the highest
rented office market in the UK outside of London. Prime rents
are forecasted to reach £44.00 psf by 2023.
Second hand office space is the primary focus for occupiers
in the Cambridge market. Demand continues to outstrip
supply with current requirements in excess of 831,000 sq ft.
Requirements for <20,000 sq ft space accounts for 50% of
all occupier demand, with 10,000-20,000 sq ft units
accounting for 28% alone.
Second hand supply has continued to decline over the last
5 years as more space is converted and redeveloped into
Grade A or residential accommodation. Availability stands
at 561,000 sq ft as of June 2018 down 8% on last year.
Availability of second-hand poorer quality space is currently
approximately 50,000 sq ft hitting a 5 year low. This in turn
has seen strong rental growth in secondary space with even
poor quality offices letting as high as £26.00 per sq ft.
Sawston Trade Park and Iconix Park were
acquired by the Howard Group as part of a
masterplan to redevelop into the new 260,000
sq ft business park known as “Unity Campus”
where they are seeking pre-lets between
10,000-60,000 sq ft quoting £26.50 per sq ft.
Adjacent are 3 office and R&D units known as
Iconix Park which have recently undergone
refurbishment and are quoting £23.50 psf
in a location just over 1 mile south from
Ashwell Point.
Below is a table of current availability and recent
letting activity:
Date Address Lease Terms Area Rent psf Comments ..... ..... (sq ft) (Net Effective)
In Market Unit B, South Cambridge Business Park, Flexible terms to be agreed. 2,126 Q. £21.17 Modern two storey office under a pitched roof. Air conditioning, .... Babraham Road, Sawston suspended ceilings with recessed cat 2 lighting, fibre broadband. ....... (adjacent to Ashwell Point) 9 car parking spaces at a ratio of 1:236 sq ft.
In Market Copley Hill Business Park, Flexible terms to be agreed. 1,500 Q. £25.00 Ground floor open plan office, Grade B specification providing ......... .. Cambridge Road, Babraham carpeting but no fit out. Secure gating and CCTV, 7 car parking .......... spaces at a ratio of 1:214 sq ft.
August 2018 Unit E5, Breaks House, HoTs currently in legals. 10 year term with a tenant break 1,734 £23.50 Second hand / Grade B. 1990s build self-contained, open plan ..... Mill Court, Great Shelford at year 5. Upward only OMRV rent reviews. 4 months rent free. 2nd floor at half rate office across 3 storeys. 8 car parking spaces at a ratio of 1:217 sq ft ....... (£22.72) ...... July 2018 Unit C1, Grain House, Mill Court, 6 year FRI term outside of the 1954 Act. Tenant only break 1,789 £23.50 Second hand / Grade B. 1990s build self-contained, open plan ......... Great Shelford option at year, 3.6 months rent free. (£22.33) office across 3 storeys. 8 car parking spaces at a ratio of 1:223 sq ft
April 2018 Grain House, Mill Court, Great Shelford 5 year FRI lease to Ultrafog. Outside of the 1954 Act. 913 £22.00 Second hand / Grade B. 1990s build, 5 office units to provide self-...... Tenant break option at year 3. 2nd floor at half rate contained, open plan space across 3 storeys. Car parking ratio of ..... 1:251 sq ft.
March 2018 Wellbrook Court, Girton Road, 10 year FRI lease to MM Wealth Limited, outside the 1954 Act. 4,575 £20.00 Air conditioning, LG7 lighting, suspended ceilings, raised floors. ..... ..... Cambridge 12 months rent free offered. (£18.00) 20 car parking spaces included in the demise which equates to a ....... ratio of 1:229.
July 2016 Magog Court, Hinton Way, 10 year term to Academics Limited. 2,936 £22.50 Second hand / Grade B converted barn style offices recently .... Shelford Bottom refurbished to provide comfort cooling, on site car parking.
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ASHWELL POINT SAWSTON DALES MANOR BUSINESS PARK
39
Date Address Area (sq ft) Lease Terms Rent pa (psf ) Price Yield Purchaser
Oct-18 The Property 19,151 Multi-let with a WAULT of 5.09 to expiry and 3.88 £315,992 £4.235m 7.00% Quoting Terms
..... to break. (£16.50)
Apr-18 Nexus House, Boundary Way, Hemel Hempstead 13,702 Multi-let to Aspin Group Limited and Transcend £227,083 £3.2m 6.66% Private
......... Information Europe B.V. with a WAULT of 5.91 years (£17.02)
............. to expiry and 3.25 year to break.
Dec-17 Mill Court, Great Shelford 38,488 Multi-let. £725,000 £9.85m 6.85% Hermes REIM
...... (£19.23)
Oct-17 Discovery House, Vision Park, Cambridge 9,034 Let to the Internet Watch Foundation with 6.5 years to £203,825 £3.8m 5.08% Royal London Mutual
............. expiry and 1.5 years to break. (£22.50)
May-17 Carlyle House, 22-28 Carlyle Road, Cambridge 10,623 Multi-let to 6 tenants. £278,614 £5.00m 5.25% Longmead Capital LLP
...... (24.00)
Investment Market Comparable investment transactions:-
Adjacent Planning Uses Sawston sits within the jurisdiction of South Cambridgeshire District Council. The South
Cambridgeshire Local Plan was adopted on 27th September 2018 and will run until 2031.
Sawston has been allocated as a “Rural Centre” in which development and redevelopment will
be permitted without any limit on individual scheme size, within the development frameworks
of Rural Centres. Ashwell Point has no allocation and is ‘white space’ whereas surrounding fields
and parts of Dales Manor Business Park have been allocated for housing under policy H/1 (a-h).
There is therefore potential to consider future residential use for the property (subject to
planning). Sawston exhibits a strong demand for housing, with the Local Plan releasing areas of
Green Belt space to accommodate the predicted 19,500 new homes required. Sawston is
a proven popular location for commuters due to its close proximity to Cambridge as well as
a convenient train line into London Liverpool St from Whittlesford Parkway station.
Salmon Harvester and Endurance Estates are underway constructing Phase 1 of the new
Cambridge South warehouse development on the former Marley Tiles site forming the north
west of the Dales Manor Business Park to provide a total of 135,000 square feet of warehouse
and business units. Phase 1 is due for completion in January 2019 and will provide approximately
68,000 sq ft of industrial space.
ASHWELL POINT SAWSTON DALES MANOR BUSINESS PARK
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GR
OV
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ASHWELL POINT SAWSTON DALES MANOR BUSINESS PARK
Not to scale - for indicative purposes only.
SALMON HARVESTERSALMON HARVESTERCAMBRIDGE SOUTH DEVELOPMENTCAMBRIDGE SOUTH DEVELOPMENT
SALMON HARVESTERCAMBRIDGE SOUTH DEVELOPMENT
ASHWELL POINT
GROVE ROAD
GROVE ROAD
GROVE ROAD
Residential Allocation in the adopted Local Plan
BABRAHAM ROAD
BABRAHAM ROAD
BABRAHAM ROAD
Should you have any queries or
wish to make a site inspection,
please contact:
Richard Walden
DD: 020 3761 3649
Darryl Stevenson
DD: 020 7297 6277
Andrew Groves
DD: 020 7297 6274
Bidwells
25 Old Burlington Street
London W1S 3AN
Tel: 020 7493 3043
October 2018
Further Information
Asset Management Opportunities
• Opportunity to refurbish and increase rental
value in the short term
• Potential to extend or redevelop the unit to
provide additional accommodation*
• Potential to add an additional floor*
• Consider alternative use to residential*
*Subject to the necessary planning consents
EPC VAT D89. The property is elected for VAT.
Proposal Offers sought in excess of £4,235,000 (Four Million,
Two Hundred and Thirty Five Thousand Pounds)
for the freehold interest, subject to contract and
excluding VAT, reflecting a net initial yield of 7.00%,
assuming standard purchaser’s costs of 6.55% and a
reversionary yield of 7.42%.
11
ASHWELL POINT SAWSTON DALES MANOR BUSINESS PARK
Bidwells
25 Old Burlington Street
London W1S 3AN
Tel: 020 7493 3043
bidwells.co.uk
IMPORTANT NOTICE
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agents they are, give notice that:
Nothing contained in these particulars or their contents or actions, both
verbally or in writing, by Bidwells LLP form any offer or contract, liability or
implied obligation to any applicants, viewing parties or prospective
purchasers of the property to the fullest extent permitted by law and should
not be relied upon as statements or representative of fact. No person in the
employment of Bidwells LLP or any joint agents has authority to make or give
any representation or warranty whatever in relation to this property. Any
areas of measurements or distances are approximate. The text, photographs
and plans are for guidance only, may not be to scale and are not necessarily
comprehensive. No assumptions should be made that the property has all
necessary planning, building regulation or other consents. Bidwells LLP has
not carried out a survey, nor tested the services, appliances or facilities.
Purchasers must satisfy themselves by inspection or otherwise. All rentals
and prices are quoted exclusive of VAT unless otherwise stated. Prospective
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