MANALIVE PORTFOLIO - Allsop...MANALIVE PORTFOLIO. The MANALIVE PORTFOLIO offers the opportunity to...

HIGH YIELDING LEISURE PORTFOLIOMANALIVE PORTFOLIO

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MANALIVE PORTFOLIO

The MANALIVE PORTFOLIO offers the opportunity to acquire 5 high yielding leisure investments let to Mecca Bingo Ltd and Rank Group Gaming Division Ltd both 5A1 covenants for 7.4 years unexpired.

■PLYMOUTH

■

CARLISLE

NEWCASTLE UPON TYNE■

EDINBURGH■

PERTH■

DUNDEE■

■SWANSEA

HARTLEPOOL

GLASGOW (2)

TELFORD

LIVERPOOL

■NORWICH

■BRISTOL

■CARDIFF

■BATH

BIRMINGHAM■

OXFORD■

CAMBRIDGE■

NORTHAMPTON■

BURY ST EDMUNDS

■

YORK■

■ LEICESTER

■SHEFFIELD

HULL■

BOLTON■

■MILTONKEYNES

READING■

SWINDON■

■COVENTRY

WOLVERHAMPTON■

LINCOLN■

HARROGATE■

■MIDDLESBROUGH

LANCASTER■

MANCHESTER

LONDON

DERBY■

NOTTINGHAM■

Five modern purpose built Bingo halls

Freehold or Heritable (equivalent of English freehold)

Let to Mecca Bingo Ltd and Rank Group Gaming Division Ltd

Let on FRI leases expiring 28th September 2022 (7.4 years unexpired)

Open market rent review 29th September 2017

5A1 covenants

GIA of approximately 219,229 sq ft (20,366.2 sq m)

Total income £1,885,285 p.a

Low average rate of £8.60 per sq ft

Prominent retail and leisure locations

Large sites with potential development opportunities (subject to planning)

Offers in excess of £21,100,000 (Twenty One Million One Hundred Thousand Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 8.45%, allowing for purchaser’s costs of 5.80% and a low capital value of £96 per sq ft.

INVESTMENT CONSIDERATIONS

■PLYMOUTH

■

CARLISLE

NEWCASTLE UPON TYNE■

EDINBURGH■

PERTH■

DUNDEE■

■SWANSEA

HARTLEPOOL

GLASGOW (2)

TELFORD

LIVERPOOL

■NORWICH

■BRISTOL

■CARDIFF

■BATH

BIRMINGHAM■

OXFORD■

CAMBRIDGE■

NORTHAMPTON■

BURY ST EDMUNDS

■

YORK■

■ LEICESTER

■SHEFFIELD

HULL■

BOLTON■

■MILTONKEYNES

READING■

SWINDON■

■COVENTRY

WOLVERHAMPTON■

LINCOLN■

HARROGATE■

■MIDDLESBROUGH

LANCASTER■

MANCHESTER

LONDON

DERBY■

NOTTINGHAM■

MANALIVE PORTFOLIO

MANALIVE PORTFOLIO

TENANCY DETAILS

COVENANT

Property Tenant Lease Start Rent Review Lease End Area Sq Ft Area Sq M Passing Rent Rent psf

Warrior Retail Park, Hartlepool, TS24 0XS Mecca Bingo Ltd 29/09/1997 29/09/2017 28/09/2022 30,138 2,799.9 £262,500 £8.71

The Forge, East Wellington Street, Parkhead, Glasgow, G31 4EB Rank Group Gaming Division Ltd 29/09/1997 29/09/2017 28/09/2022 50,067 4,651.3 £627,500 £12.53

Knotty Ash, 439 East Prescot Road, Liverpool, L14 2DE Mecca Bingo Ltd 29/09/1997 29/09/2017 28/09/2022 32,853 3,052.1 £263,300 £8.00

Southwater Square, St Quinten’s Gate, Telford, TF3 4HS Rank Group Gaming Division Ltd 30/09/1997 29/09/2017 28/09/2022 56,517 5,250.6 £384,285 £6.80

Axis West, Gt Western Road, Drumchapel, Glasgow, G15 6SA Rank Group Gaming Division Ltd 29/09/1997 29/09/2017 28/09/2022 49,654 4,613.0 £347,700 £7.00

Total 219,229 20,366.2 £1,885,285

Mecca Bingo Ltd (01854120) has a D&B rating of 5A1 and produced the following accounts for the last three financial years:

Year Ending 30 Jun 2012 30 Jun 2013 30 Jun 2014

Turnover 329,085,000 216,949,000 213,869,000

Pre-Tax Profits 90,101,000 -32,554,000 8,628,000

Net Worth 469,538,000 430,515,000 438,983,000

Rank Group Gaming Division Ltd (03213743) has a D&B rating of 5A1 and produced the following accounts for the last three financial years:

Year Ending 30 Jun 2012 30 Jun 2013 30 Jun 2014

Turnover 31,981,000 26,410,000 25,906,000

Pre-Tax Profits 2,922,000 3,099,000 5,345,000

Net Worth 779,610,000 780,339,000 783,881,000

The Rank Group plc is a gambling and leisure company with headquarters in Maidenhead with operations in the United Kingdom, Belgium and Spain. It operates 55 Grosvenor Casinos, 98 Mecca Bingos and Rank Interactive (online gaming and betting). In addition, Rank operates in Spain as Top Rank España) and in Belgium as Grosvenor Casinos.

The Rank Group is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

VAT

We understand the properties are currently elected for VAT, therefore VAT will be payable the purchase price. It is envisaged that the sale will be dealt with as a Transfer of a Going Concern (TOGC).

EPCs

Copies of the Energy Performance certificates can be provided upon request.

MANALIVE PORTFOLIO

• Freehold• Modern purpose built Bingo Hall• Prime retail and leisure location• Total gross internal area 30,138 sq ft (2,799.9 sq m)• Let to Mecca Bingo Ltd (Guaranteed by Rank Group Gaming Division

Ltd)• Lease expiry 28th September 2022• Passing rent £262,500 p.a (£8.70 psf)• Excellent car parking provision• Rent is a discount to Anchor Retail Park where rents are £18 - £20 psf• Tenant option to extend for a further 10, 15 or 20 years

MECCA BINGO, WARRIOR RETAIL PARK, HARTLEPOOL TS24 0XS

LOCATIONHartlepool is a popular residential and commercial centre situated on the north east coast located 12 miles (19 km) north of Middlesbrough and 26 miles (41 km) south of Newcastle upon Tyne. The town benefits from good road connections north and south via the A19 and A1 motorways. The town’s railway station provides direct services to London Kings Cross and Newcastle.

Hartlepool has a resident population of 86,000 and a catchment within 12 miles (20 km) of the town centre of 637,000. The town is known for its port facilities and major tourist attractions including the Maritime experience and Marina.

SITUATIONThe subject property is situated adjacent to Hartlepool Marina in a highly prominent position with good visibility from Marina Way (A179). The location is the town’s established and prime out of town retail and leisure pitch. The property is located in close vicinity to the Anchor Retail Park and adjacent to a modern Vue cinema, KFC and Travelodge. Other nearby occupiers includes amongst others McDonalds, Asda, PC World and Argos.

DESCRIPTIONThe property comprises a modern detached unit of steel portal frame construction which was purpose built and fully fitted out as a bingo hall in the late 1990’s. There is a double height feature entrance reception leading to a foyer area with gaming machines, which then leads into the main bingo hall. There are two bar areas in the main hall, one of which has catering facilities to the rear.

At first floor level there are cellular offices, staff area, WC facilities for staff and a plant room.

Externally there are approximately 204 car parking spaces, which are designated for customer car parking.

TENANCY The property is let on a FRI lease to Mecca Bingo Limited at a passing rent of £262,500 p.a for a term of 25 years expiring on 28 September 2022.

The lease benefits from a full guarantee from Rank Group Gaming Division Limited. The lease is also guaranteed by Rank Leisure Holdings Limited to ensure that a) no dividend is paid unless a minimum threshold of £150m net assets is maintained b)

for a guarantee to be put in place if the tenant ceases to be a subsidiary of the guarantor company.

The lease provides for 5 yearly upward only rent reviews, the next one being due in September 2017. The tenant benefits from an option to renew its lease for a term of 10, 15 or 20 years from lease expiry.

ACCOMMODATION

Area Sq ft Sq m

Ground Floor Bingo & First Floor Offices and Plant Room

30,138 2,799.9

Total 30,138 2,799.9

SITEWe calculate the site extends to approximately 2.92 acres (1.18 hectares).

TENUREFreehold

DURHAMTEES VALLEY

INTERNATIONAL AIRPORT

NEWCASTLE

A1(M)

A1(M)

NEWCASTLEUPON TYNE

MIDDLESBROUGH

DARLINGTON

HARTLEPOOL

SUNDERLAND

SOUTHSHIELDS

TYNEMOUTH

WASHINGTON

BILLINGHAM REDCAR

BROTTON

GATESHEAD

DURHAM

JARROW

Hartlepool

Clarence R

d

Church St

Church StLynn St

The Lanyard

A689

MECCA BINGO, WARRIOR RETAIL PARK, HARTLEPOOL TS24 0XS

THE LANYARD

MARIN

AW

AY

SubEl

Sta

0m 10m 20m 30m

Ordnance Survey © Crown Copyright 2015. All rights reserved. Licence number 100022432. Plotted Scale - 1:1285

ANCHOR RETAIL PARK

© Crown Copyright, ES 100004106Site outline for indicative purposes only.

McDonalds

MANALIVE PORTFOLIO

• Heritable (equivalent of English freehold)• Modern purpose built Bingo Hall• Located opposite the Forge Shopping Centre• Total gross internal area 50,067 sqft (4,651.3 sq m) • Let to Rank Group Gaming Division Limited• Lease expiry 28th September 2022• Passing rent of £627,500 p.a (£12.53 psf)• Rent is a discount to Forge Retail Park where rents are £18 - £20 psf• Tenant option to extend for a further 10, 15 or 20 years

THE FORGE, EAST WELLINGTON STREET, PARKHEAD, GLASGOW G31 4EB

LOCATIONGlasgow is Scotland’s largest city and the third largest by population in the United Kingdom. The city sits centrally within the Glasgow and Clyde Valley conurbation which has a population of around 1.75 million. The nearest major city is Edinburgh, situated some 48 miles (77 km) to the east.

SITUATIONThe property is located at the junction of Gallowgate and Clyde Gateway in the Parkhead district of Glasgow circa 4 km (2.5 miles) east of Glasgow city centre. The Forge Shopping Centre is located to the northeast and the Forge Extra Retail Park is located to the northwest. Adjacent to the property is the Forge Market , Scotland’s largest purpose built indoor market. The area is also home to Celtic Football Club, The Sir Chris Hoy Velodrome and the Emirates Arena.

Retail warehouse rents on Forge Retail Park range between £18 - £20 psf.

DESCRIPTIONThe property comprises a modern detached unit of steel portal frame construction which was purpose built and fully fitted out as a bingo hall in the late 1990’s. There is an entrance opposite The Forge Shopping Centre and another entrance at the east elevation overlooking the car park. The reception areas lead to a foyer area with gaming machines, which then leads into the main bingo hall.

There are two bar areas, one of which has catering facilities to the rear. There is also a mezzanine area within the main hall. At first floor level there are cellular offices, staff areas and WC facilities for staff and the plant room.

Externally there are approximately 236 car parking spaces, which are designated for customer car parking only.

TENANCY The property is let to Rank Group Gaming Division Ltd on a FRI lease at a passing rent of £627,500 p.a expiring 28th September 2022 with a rent review in 29th September 2017.


ACCOMMODATION

Area Sq ft Sq m

Ground Floor 35,255 3,275.3

Bingo Mezzanine 7,390 686.5

Staff Room Mezzanine 7,422 689.5

Total 50,067 4,651.3


TENUREHeritable (equivalent of English freehold).

THE FORGE, EAST WELLINGTON STREET, PARKHEAD, GLASGOW G31 4EB

20.4m

20.7m

21.0m

EAST WELLINGTON STREET

Car Parks

1201

1221

Shopping Centre

30

Club

Health Centre

(Market)

Parkhead Hospital

140

Nisbet Business Centre

0m 20m 40m 60m


Parkhead Health Centre

The Forge Market

Forge Shopping Centre

Westmuir Street

Gallowgate

Tollcross Road

East Wellington Street

Hart S

treet

Winning

Ro

w

Back C

auseway

Nis

bet

Str

eet

Salamanica Street

Der

vaig

Str

eet

Rav

el R

ow

Sor

by

Str

eet

Beattock Street

Quarrybrae Street

Sprin

gfie

ld R

oad

Bur

gher

Stre

et

Rigb

y Street

Crail Place

Shettleston Road

A89

M8

M77

M74

M80

M8GLASGOW

BISHOPBRIGGS

CAMBUSLANG

RUTHERGLEN

RENFREW

CLYDEBANK

ANNESLAND

SPRINGBURN

GLASGOW CITY CENTRE


CELTIC PARK STADIUM

THE FORGE SHOPPING CENTRE

FORGE INDOOR MARKET

THE FORGE RETAIL PARK

MANALIVE PORTFOLIO

• Freehold• Modern Bingo Hall • Established retail location• Adjacent to Aldi, Burger King & KFC• Total gross internal area 32,853 sq ft (3,001 sq m) • Let to Mecca Bingo Limited (Guaranteed by Rank

Group Gaming Division Ltd)• Lease expiry 28th September 2022• Passing rent of £263,300 p.a (£8.00 psf)• Tenant option to extend for a further 10, 15 or 20 years

KNOTTY ASH, 439 EAST PRESCOT ROAD, LIVERPOOL, L14 2DE

LOCATIONThe historic port of Liverpool is the UK’s sixth largest city and the administrative centre of the County of Merseyside. The city has an urban population of approximately 435,000 and a wider district population in excess of 1.8 million within 30 minutes of the city centre.

The city has excellent communication links with the M62, M57 and M58 motorways providing direct access off the M6, whilst the city centre is linked to the Wirral, Chester and North Wales by two tunnels which gain access to the M53/Wirral Peninsula.

SITUATIONThe property is located in Knotty Ash, a suburb of Liverpool, approximately 8.1 km (5 miles) to the east of the city centre connected by the A57 (East Prescot Road). Junction 2 of the M57 is 3 miles to the east, which joins the M62 approximately 3.2 km (2 miles) to the south.

The property is prominently positioned on the northern side of the A57 dual carriageway adjacent to Aldi, KFC and Burger King.

DESCRIPTIONThe property comprises a single storey modern detached unit of steel portal frame construction which was purpose built and fully fitted out as a bingo hall in the late 1990’s.

The reception area leads to a foyer area with gaming machines, which then leads into the main bingo hall.


TENANCY The property is let to Mecca Bingo Limited on a FRI lease at a passing rent of £263,300 p.a expiring 28th September 2022 with a rent review in 29th September 2017.

The lease benefits from a full guarantee from Rank Group Gaming Division Limited. The lease is also guaranteed by Rank Leisure Holdings Limited to ensure that a) no dividend is paid unless a minimum threshold of £150m net assets is maintained b) for a guarantee to be put in place if the tenant ceases to be a subsidiary of the guarantor company.


ACCOMMODATION

Area Sq ft Sq m


Mezzanine 3,309 307.4

Total 32,853 3,052.1


TENUREFreehold.

M6

M6

M6

M1

M1

M1

M1

M5

M56M53

M58

M40

M42

M11

M54

M61 M62

M18

M180

M62

NORTHAMPTON

NOTTINGHAM

BANGOR

STAFFORD

STOKE-ON-TRENT

SHEFFIELD

MANCHESTER

LINCOLN

LANCASTER

YORK

LEEDS

LEICESTER

BIRMINGHAM

HUDDERSFIELD

DONCASTER

COLWYN BAY

SHREWSBURY

COVENTRY

PETERBOROUGH

KIDDERMINSTER

DERBY

WOLVERHAMPTON

CHESTER

PRESTON

HARROGATE

BRADFORD BLACKPOOL HULL

MIDDLEWICH

LIVERPOOL

KNOTTY ASH, 439 EAST PRESCOT ROAD, LIVERPOOL, L14 2DE

Ward Bdy

29.0m

27.7m

28.3m

28.7m

Mast

Telecommunication Mast

EAST PRESCOT ROAD

YOU

ENSW

AY

EAST PRESCOT ROAD

GALA

CLO

SE

PARISHM

EWS

396

41

5

370

427

3

26

15

11

Services

367

439

1

Social

Morley

382

1

415

547

12

1112

Court

0m 10m 20m 30m


© Crown Copyright, ES 100004106

A57 East Prescot Road

Pitch Lane

Bro

oksi

de A

venu

e

Blackmoor Drive East

Prescot R

oad

Woodford Road

Youens Way

Chedworth Road

Church

down Road

Pitch Bank Road

Churchdown Road

Gala C

lose

The

Fairw

ay

The Greenway

MANALIVE PORTFOLIO

• Freehold• Modern purpose built Bingo Hall• Part of the £200m Southwater Regeneration Scheme• Total gross internal area 56,517 sq ft (5,250.6 sq m)• Let to Rank Group Gaming Division Limited• Lease expiry 28th September 2022• Passing rent of £384,285 p.a (£6.80 psf)• Tenant option to extend for a further 10, 15 or 20 years

SOUTHWATER SQUARE, ST QUINTEN’S GATE, TELFORD, TF3 4HS

SITUATIONThe property is located within in Southwater leisure scheme in the town centre and benefits from good presence and signage from St Quentin Gate, the main access to the town centre. Immediately to the north of the property is the Telford Shopping Centre, which comprises approximately 1m sq ft of retail and has recently undergone a £200m regeneration, which includes Southwater.

Other leisure uses in the vicinity include the council run ice rink, a new Cineworld IMAX cinema, Premier Inn Hotel, Conference centre, new library and visitor centre. The development opened in phases in 2014 and has some further areas outlined for development.

DESCRIPTIONThe property comprises a large detached two storey building of framed construction with brick façade to provide a ground floor bowling alley and first floor bingo hall.

TENANCY The property is let to Mecca Bingo Limited on a FRI lease at a passing rent of £384,285 p.a expiring 28th September 2022 with a rent review in 29th September 2017.

The ground floor is assigned to Tenpin Ltd under co-terminus lease terms at a current rent of £164,918 pa outside the L&T 1954 act.


ACCOMMODATION

Area Sq ft Sq m

Ground Floor Bowling Alley 28,315 2,630.0

First Floor Bingo Hall 25,443 2,363.7

First Floor Plant & Ancillary

2,759 256.3

Total 56,517 5,250.6


TENUREFreehold.

M54

M6

M5

MADELEY

NEWPORT

BRIDGNORTH

STOURBRIDGE

TELFORD

SHREWSBURY

STAFFORD

WALSALL

DUDLEY

WOLVERHAMPTON

CANNOCK

SOUTHWATER SQUARE, ST QUINTEN’S GATE, TELFORD, TF3 4HS

Southwater

Pond

GGs

Post

Posts

Car Park

CR

Def

Def

Arca

de

ST QUENTIN GATE

Sout

hwat

er

Ramp

3b

HousePoint

56

3a

1

Gas GovMeeting

59

Multi-storey Car Park

0m 10m 20m 30m


Bowling Alley

Bingo Hall

Ice Rink

Hotel

© Crown Copyright, ES 100004106

Telford Central

Queen Elizabeth Avenue

Gra

nge

Cen

tralW

oodh

ouse

Cen

tral

W Centre Way

Hollinsgate

A5

B5072

Stafford Park 1

St Quinten’s Gate

Queensway A442Telford

HOLLINSWOOD

M54

TELFORD SHOPPING CENTRE

MULTI STOREY CAR PARK

ICE RINK

Site outline for indicative purposes only.

LOCATIONTelford is the largest town in Shropshire, with a population of 155,000, and is one of the fastest growing towns in the UK. By 2026 it is expected to have seen a 23% population increase and the Borough of Telford is identified as an important regional growth location as a result of this.

Telford is located 30 miles west of Birmingham, 15 miles east of Shrewsbury and 145 miles north west of London.

The town is connected to Birmingham city centre via the M54 motorway, with an average journey time of 30 minutes by car. Regular rail services run to Birmingham Moor Street station from Telford Central station, with an average journey time of 35 minutes. London Euston to Telford Central via Birmingham International has an average journey time of 2hrs 15 mins.

SOUTH WATER LEISURE SCHEME

MANALIVE PORTFOLIO

• Heritable (equivalent of English freehold)• Modern purpose built Bingo Hall• Located on Great Western Retail Park• Potential for alternative uses• Total gross internal area 49,686 sq ft (4,651.3 sq m)• Let to Mecca Bingo Limited• Lease expiry 28th September 2022• Passing rent of £347,700 p.a (£7.00 psf)• Rent is a large discount to Great Western Retail Park

where rents are £23.50 psf• Tenant option to extend for a further 10, 15 or 20 years

AXIS WEST, GREAT WESTERN ROAD, DRUMCHAPEL, GLASGOW G15 6SA

LOCATIONGlasgow is Scotland’s largest city and the third largest by population in the United Kingdom. The city sits centrally within the Glasgow and Clyde Valley conurbation which has a population of around 1.75 million. The nearest major city is Edinburgh, situated some 48 miles (77 km) to the east.

Great Western Retail Park is located immediately off the A82 Great Western Road, approximately 6.5 miles (10.4 km) west of Glasgow in the area of Drumchapel. Great Western Road leads directly to Glasgow City Centre. The commuter towns of Bearsden and Milngavie are located to the north and Clydebank is located to the south.

SITUATIONThe subject property is situated in a highly prominent position with good visibility onto Great Western Road. Great Western Retail Park extends to approximately 250,000 sqft, with occupiers including Sainsbury’s, Pets at Home, Curry’s PC World, B&Q, Pizza Hut and Burger King.

Retail warehouse rents on Great Western Park are in the region of £23.50 psf.

DESCRIPTIONThe property comprises a modern detached unit of steel portal frame construction which was purpose built and fully fitted out as a bingo hall in 1997. There is a double height feature entrance reception leading to a foyer area with gaming machines, which then leads into the main bingo hall. There are two bar areas in the main hall, one of which has catering facilities to the rear.

At first floor level there are cellular offices, staff area, WC facilities for staff and a plant room. In addition, on the western elevation there is a mezzanine which has been fitted out to shell condition.


TENANCY The property is let to Rank Group Gaming Division Ltd on a FRI lease at a passing rent of £347,700 p.a expiring 28th September 2022 with a rent review in 29th September 2017.


ACCOMMODATION

Area Sq ft Sq m


Bingo Mezzanine 7,390 686.5

Staff Room Mezzanine 7,422 689.5

Total 49,654 4,613.0


TENUREHeritable (equivalent of English freehold).

M8

M77

M74

M80

M8GLASGOW

BISHOPBRIGGS

CAMBUSLANG

RUTHERGLEN

RENFREW

CLYDEBANK

ANNESLAND

SPRINGBURN

AXIS WEST, GREAT WESTERN ROAD, DRUMCHAPEL, GLASGOW G15 6SA

Burgh

Con

st Bdy

Co C

onst, P C

onst,

ALLERDYCE ROAD

0m 10m 20m 30m

Ordnance Survey © Crown Copyright 2015. All rights reserved.

Licence number 100022432. Plotted Scale - 1:1250

NCR754

B&Q

Currys

Sainsburys

Great Western Retail Park

Dun

treat

h Av

enue

Allerdyce Road

Allerd

y ce Drive

Allerdyce Road

Allerdyce Road

Allerdyce Court

Fruin Road

Gol

f Driv

e

Dou

glas

Driv

e

Kirkwood Avenue

Dalton Avenue

Attlee Avenue

McN

eil A

venu

e

Morrison Quadrant

Strauss Avenue

Great Western Road

A82

GREAT WESTERN RETAIL PARK

PLANNING CONSENT FOR 50,000 SQ FT

OF OPEN A1 RETAIL


MANALIVE PORTFOLIO

Alex Butler 020 7543 [email protected]

Mark Dansky020 7543 [email protected]

Jeremy Hodgson020 7543 [email protected] www.allsop.co.uk

For further information or to make arrangements for viewing please contact:

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design: CommandD www.commandHQ.co.uk 05.15

PROPOSALOffers in excess of £21,100,000 (Twenty One Million One Hundred Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 8.45%, allowing for purchaser’s costs of 5.80%.

This will provide an attractive low capital value of £96 per sq ft.

MANALIVE PORTFOLIO

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