Kingsmill Business ParK

Kingsmill Business Park
Chapel Mill Road
Kingston-upon-thames
London, Surrey KT1 3GZ
Business Space Investment Opportunity
Fairfield Industrial Estate
Kingsmill Business Park
Fairfield Recreation Ground
Surrey County Council
Rose Theatre
Kingston Town Hall
The Bentall Centre
Kingston Station
John Lewis
Kingston Bridge
Investment Considerations
■■
South West London Business space
investment opportunity
■■
Popular business location in a strong
Greater London Borough
■■
40,151 sq ft of modern accommodation
■■
Excellent Occupancy rate of 93.78%
■■
Prominent site fronting Chapel Mill Road
■■
■■
Freehold site extending to 1.6 acres
Asset Management Opportunities
including potential lease regears
■■
Net income is £496,646 per annum equating to only £12.37 per sq ft
■■
Offers are sought in excess of £6,700,000 (Six Million Seven Hundred
Thousand Pounds). Assuming usual purchaser’s costs of 5.8%, a purchase at
this level reflects a net initial yield of 7%, a capital value of £166 psf.
A4142
A41
Hemel
Berkhamsted
Hempstead
Thame
St Albans
M10
A4010
A404
J21
Chesham
J20
A131
M11
Harlow
A414
Hatfield
A12
Chelmsford A138
A414
Potters Bar
J23
J25
M25
Chipping
Ongar
A414
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M25
Watford
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A1
M11
M1
A130
Rickmansworth
High
South
Billericay
A355 A413
Wycombe
Brentwood
Oxney
J28
Wickford
Harefield
M40
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Harrow
A10
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A127
A12
Brent
J29
Ruislip
Basildon
Kingsmill Business Park is located in Kingston-upon-Thames, an affluent
Romford
A404
Cross
J16
8
0
Wembley
3
A
Benfleet Southend-on-Sea
Uxbridge A40
town in South-West London. Kingston is approximately
10 miles south
Henley-on-Thames
A34
Canvey
Maidenhead
Slough
A13
Stanford-le-Hope Island
M25
west of Central London, 20 miles north east of Guilford and 60 miles
Southall
A404(M)
London
J15
City
M4
south east of Oxford.
Fulham
Windsor
Hounslow
A2
D
Heathrow
A316 Richmond Clapham
M4
en
Dartford
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The town benefits from good road communications with the A3 KingstonREADING
Staines Ashford KINGSTON
Gravesend
ar
Sheerness
A329(M)
k
Egham
J2
Ro
A20
Bracknall
UPON THAMES
Bypass providing access to the M25 (Junction 9) approximately 7 miles to
ad
Ascot
Wokingham
Bromley
J12
Swanley
A23
A309
A3
M3
Gillingham
the south and the M3 (Junction 1) approximately 6 miles to the west. The
J3
A322
Rochester
Croydon
Walton-on-Thames
A21
A232
Bagshot
M2
town also benefits from excellent public transport links being served by
M20
M25
Sutton
M25
Sandhurst
Su
Sittingbourne
Epsom
rb
Kingston, Surbiton, Norbiton and Berrylands Rail Stations providing frequent
Shoreham
Snodland
ito
J10
n
A217
Woking
Ro
Biggin Hill
A339
services to London Waterloo every 15 minutes, with
a
A22
M20
M26
J9
J5
Famborough
M3
Sevenoaks
Fleet
a fastest journey time of 18 minutes.
M25
A331
Maidstone
A3
J7
BASINGSTOKE
J6
J8
Oxted
A34
Aldershot
A26
Reigate
London Heathrow and London Gatwick airports are approximately
GUILDFORD
Dorking
Redhill
A21
Famham
oad
9 miles north west and 23 miles south of the property respectively.
rt R
A24
Tonbridge
M23
Godalming
A303
Paddock
Horley
Royal
Wood
Staplehurst
Gatwick
Tunbridge
r bit
Alton
Witley
on H
Cranleigh
Wells
A264
ill
A229
A31
Crawley Three Bridges
East
Grinstead
North A264
Horsham
Horsham
LONDON
be L
A238 Coom
C romwell Road
d
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Borehamwood
Epping
Kingston
S tr
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J19
A130
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OXFORD
A120
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Harpenden Welwyn Garden
City
Hertford
Stansted
on
A1(M)
M1
Aylesbury
A34
A602
Bishop’s
Stortford
A10
st
Knebworth
A5
A40
A420
Luton
Villiers Road
LUTON
Portland
Road
Grove L
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KINGSMILL BUSINESS PARK
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A418
Berrylands
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El Sub Sta
Ambulance
Station
Key:
Area sold
off on
long lease
Saxon H
ouse
© Crown Copyright, ES 100004106. For identification purposes only.
10m
20m
30m
Situation Athels1taton24H
Description
Kingsmill Business Park is situated approximately one mile south
east of Kingston town centre on the southern side of Chapel Mill
Road, just to the east of its junction with Villiers Road. Adjacent to
the subject property is the recently transacted, Fairfield Industrial
Estate which accommodates some major trade occupiers
including Magnet Trade, Howdens Joinery and the Royal Mail.
The property comprises 17 two-storey individual business units totalling
40,151 sq ft with units ranging from 952 - 6,200 sq ft. The units provide
split level accommodation with ground floor workshop accommodation
and open plan office accommodation at first floor level. The units are
arranged over three terraces of brick construction beneath pitched roofs.
The units surround a central courtyard which provides on-site parking.
Kingston town centre provides an extensive retail offering,
including the Bentall Shopping Centre.
The office accommodation benefits from a high specification including,
double glazing, central heating, raised floors and suspended ceilings,
with concrete floor at ground level.
ouse
Ordnance Survey © Crown Copyright 2015. All rights reserved.
Licence number 100022432. Plotted Scale - 1:882
The site benefits from a CCTV system that is capable of remote monitoring.
Site
The site extends to 1.6 acres (0.65 Ha).
Tenancy Schedule
Unit Ref
Tenant Name
Area
sq m
Area
sq ft
Rent
per annum
Rent
psf
Lease
Start
Lease
Expiry
KM.01
Comment
Z1 Technology Services Ltd.
386.38
4,159
£35,352
£8.50
01/09/2013
30/06/2018
Tenant break 01/09/16 subject to 6 months notice
Contracted out of 1954 Act, Next RR 01/09/16
KM.02
Foreseeson UK Ltd.
145.02
1,561
£18,250
£11.69
01/12/2009
30/11/2012
To vacate 31/03/15
KM.03
Connect London Ltd.
197.23
2,123
£21,230
£10.00
25/12/2013
24/12/2016
Rolling break subject to 6 months notice
Contracted out of 1954 Act
Service Charge
KM.04
Cistor Ltd.
143.9
1,549
£19,363
£12.50
28/05/2012
27/05/2015
Rolling break subject to 3 months notice
Contracted out of 1954 Act
The service charge budget for the current financial year
ending 31/03/2015 is £47,403 equating to £1.18 per sq ft.
KM.05
Fire Systems Ltd.
143.81
1,548
£19,350
£12.50
01/04/2012
31/03/2015
KM.06/11
Simoney Badges Ltd.
285.12
3,069
£38,363
£12.50
01/10/2012
30/09/2015
Contracted out of 1954 Act
Non Recoverables
KM.07
The Malabar Cotton Company Ltd.
143.26
1,542
£24,673
£16.00
01/12/2014
30/11/2017
Contracted out of 1954 Act
The current vacancy rate is 2,499 sq ft equating to 6.22%
123.84
1,333
£16,663
£12.50
11/06/2012
10/06/2015
Contracted out of 1954 Act
124.3
1,338
£20,070
£15.00
07/11/2014
06/11/2017
Contracted out of 1954 Act
125.23
1,348
£17,055
£12.65
02/09/2013
01/09/2016
Contracted out of 1954 Act
KM.08
Enviko Ltd.
KM.09
Infeel (UK) Ltd.
KM.10
Materials Testing and Technical Services Ltd.
KM.12
Phoenix Flow Measurement Ltd.
88.44
952
£17,136
£18.00
11/10/2014
10/10/2017
Rolling break after 12 months subject to 6 months notice
Contracted out of 1954 Act
KM.13-14
Wifinity Ltd.
576.0
6,200
£77,500
£12.50
01/11/2012
31/10/2015
Rolling break subject to 3 months notice
Contracted out of 1954 Act
Tenure
KM.15
Vacant
232.16
2,499
£34,986
£14.00
Vendor to provide 1 year rent guarantee
Long Leasehold. 999 years from 2002.
KM.16
Sold off
14/02/2002
04/02/3001
KM.17
The London Photocopying Company Ltd.
233.00
2,508
£28,842
£11.50
28/05/2013
09/05/2016
To vacate 31/07/15
KM.18
Welldata Ltd.
213.49
2,298
£25,853
£11.25
01/07/2013
30/06/2018
Rolling break after 36 months subject to 3 months notice
Contracted out of 1954 Act
KM.19
Cistor Ltd.
234.95
2,529
£31,613
£12.50
25/07/2014
24/07/2017
Tenant break 30/06/15 subject to 3 months notice
Contracted out of 1954 Act
KM.20
Hugh Steeper Ltd.
333.99
3,595
£50,350
£14.01
11/06/2008
10/06/2011
Rolling break subject to 3 months notice
Holding over
3,730.15
40,151
£496,646
£12.37
TOTAL
Service Charge
£2,948
Rates
£13,857
Total
£16,805
Tenancies as at 02/02/15.
EPC
The property has been rated C to D on the EPC scale
(44 - 70). EPC certificates available upon request.
VAT
The property is elected for VAT purposes and
therefore VAT will be payable by the purchaser,
unless the sale is structured as a TOGC.
A313
Richmond
Park
Key:
A307
Teddington
A
● Key areas of change
●Local Centres
B351
●Housing Opportunity Areas
n Locally Significant Industrial Site
A308
Teddington
Major Movement Barriers
A310
●Strategic Landmark
B358
Bushy
Park
Hampton Wick
Kingston
Hampton
Wick
Norbiton
Kingston
Upon Thames
Hampton
Court
A308
A238
Norbiton
B283
A308
Hampton Court
Park
New
A2043
A307
A240
Berrylands
New Mald
THE PROPERTY
Surbiton
Surbiton
Thames Ditton
Thames Ditton
A3210
Oakhill
A3
Regeneration
Kingston is set to benefit from numerous developments including the Eden Quarter Development which is the largest
development opportunity area in the town centre. The development is set to combine high quality retail, leisure and
commercial uses with active public space and residential living. North Kingston is situated north of Kingston station and
has been recognised for a future comprehensive redevelopment. The main uses considered for the area include residential,
educational and other uses. Plans have been drawn up by Berkeley for 315 new homes, new commercial and educational
accommodation and a linear park within the development area. An application from Goldcrest is also being considered to
develop an office block and replace it with retail outlets, office accommodation, restaurants and cafes on the ground floor
and accommodation for up to 210 student on the upper floors. Numerous development projects are being considered by the
riverside including Kingston Heights which will include a new housing project, a £70 million upmarket hotel and restaurants
next to John Lewis. John Lewis is considering expanding itself which could include a Waitrose. In 2014 Kingston were awarded
the ‘mini-Holland’ programme status by the Mayor of London which provides £30 million to transform the local cycling
facilities. The programme will help to improve the road network and public spaces for all road users.
Ultimately the development of Kingston is being overseen by Kingston Futures which is an ambitious investment programme
designated for Kingston Town Centre and its future development.
Further information can be found at www.kingstonfutures.org.uk
Proposal
Offers are sought in excess of £6,700,000 (Six Million Seven Hundred
Thousand Pounds). Assuming usual purchaser’s costs of 5.8%, a purchase at
this level reflects a net initial yield of 7%, a Capital Value of £166 psf.
For further information or to make arrangements for viewing please contact:
Scott Tyler
020 7543 6719
Guy Scott Plummer
020 7543 6726
Richard Lea
020 7543 6832
scott.tyler@allsop.co.uk
guy.scott-plummer@allsop.co.uk
richard.lea@allsop.co.uk
www.allsop.co.uk
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 02.15