Transcription of FIRST - Joiner Cummings
1 POINTF irst Point, Buckingham Gate Gatwick Airport, Gatwick, RH6 0 PPFIRSTPRIME SOUTH EAST REFURBISHED MULTI LET OFFICE INVESTMENTF irst Point, Buckingham Gate ,Gatwick Airport, Gatwick, RH6 0 PPINVESTMENT SUMMARYP rime South East refurbished multi let office investment Prime South East multi-let office investment located adjacent to Gatwick Airport, within walking distance of the terminal buildings. Highly specified Grade A building totalling 62,028 sq ft which has recently been significantly refurbished at a cost of Excellent proximity to Gatwick Airport, the M23 and M25 motorways and access via train to central London within 30 minutes.
2 92% let to 5 tenants on 6 leases providing and attractive WAULT of years to expiry years to break. Currently producing 1,423,451 per annum reflecting an average rent on let space of psf. Latest deals reflect up to psf with psf being promoted on the vacant element. Strong tenant profile from a good balance of airport related users and large corporates. Major tenants include HSBC, Close Asset Management, Norwegian and Amadeus. Outstanding parking provision of 270 spaces reflecting a ratio of 1:230 sq ft. Freehold.
3 Offers are sought in excess of 17,210,000 (seventeen million two hundred and ten thousand pounds) subject to contract and exclusive of VAT reflecting a net initial yield of assuming standard purchasers Point, Buckingham Gate, Gatwick Airport, Gatwick, RH6 0 PPPrime South East refurbished multi let office investmentROYALTUNBRIDGEWELLSCROYDONGUIL DFORDHASTINGSCRAWLEYWOKINGEASTBOURNEBROM LEYEPSOMDORKINGGATWICKHASTINGSLONDONEAST BOURNEFARNHAMHORSHAMA24A26A26A27A27A3A3A 24A23A21A21A229A2A31A272A272A273M25M25M2 5M3M23M20M2M26M414121097695 FIR STPOINTLOCATION/SITUATIONF irst Point is located within immediate proximity to Gatwick Airport within the eastern perimeter of the airport boundary, and adjacent to junction 9A of the M23 motorway.
4 The main terminal building is within a few minutes property is highly accessible by road serviced by the M23 motorway, and by rail serviced by mainline Gatwick Express and Southern Services to the Airport. The highways authority has recently announced up to 211 million in funding to transform the M23 motorway into a smart motorway between Junctions 10 (East Grinstead and Crawley) and 8 (M25). As part of the investment the M23 is set to become a four lane motorway in both directions. The M23 Smart Motorway scheme is already committed for completion by 2020, increasing capacity by around 30%.
5 Gatwick benefits from fast, efficient and frequent connections to central London. Gatwick Express services run nonstop between London Victoria and Gatwick Airport every 15 minutes with a journey time of 30 minutes. Southern services are also frequent to London Victoria (30 minutes) via East Croydon (14 minutes) and Clapham Junction (24 minutes) and London Bridge (31 minutes). FIRST POINT IS LOCATED WITHIN A FEW MINUTES WALK OF GATWICK TERMINAL BUILDING ROADC entral London28 milesM23/M25 milesHeathrow Airport38 milesRAILL ondon Victoria (Gatwick Express)
6 30 minutesLondon Bridge31 minutesEast Croydon14 minutesPERIMETER RD EAST BUCKINGHAM GATE RING RD SOUTH BUCKINGHAM GATELOWER FORECOURT RING RD SOUTH RING RD SOUTHE AST WAYWEST WAY A LONDON ROADAIRPORT WAY AIRPORT WAYB B UPPER FORECOURT RING RD NORTHHILTONLONDONGATWICKAIRPORTSOUTHTERM INALCOACHSTATIONM23 GATWICKSTATIONGATWICKAIRPORT SOUTHTERMINAL9 ATO J9 FIRSTPOINTF irst Point, Buckingham Gate, Gatwick Airport, Gatwick, RH6 0 PPPrime South East refurbished multi let office investmentTEN REASONS TO INVEST IN CRAWLEY/GATWICK Located right by UK s second largest international airport, London Gatwick Airport.
7 Quick access to London, 30 minutes direct by train every 10-15 minutes. Easy access to the national road network, connected by the M23 and 10 minutes to the M25. Access to Heathrow Airport, 45 minutes via M23 and M25. Strong sector presence and home to numerous global blue-chip companies and headquarters. Independent research studies have confirmed the area as a FIRST class location for business. Manor Royal Business District, the biggest business park in the South East. Prime property availability and development opportunities offer excellent growth prospects.
8 Access to talent, a skilled and educated workforce. A vibrant and active local business Point, Buckingham Gate, Gatwick Airport, Gatwick, RH6 0 PPPrime South East refurbished multi let office investmentDESCRIPTIONF irst Point was developed in 1997 and forms a well configured office building totalling 62,028 sq ft over ground and 3 upper floors on a large hectare ( acre) site. The floor plates are well configured, around a central atrium/ light well and offer excellent flexibility with numerous options for divisibility. The ground, FIRST , part second, part third floors alongside the common areas have recently benefited from a substantial refurbishment costing in excess of 3,100,000 and now provide newly refurbished Grade A office specification as follows.
9 Refurbished entrance reception area Full height glazed atrium 2 x 13 person passenger lifts (recently refurbished) Male and female WC s on each floor Disabled WC facilities on 1st and 3rd floors Shower facilities on 2nd floor New under floor AET Hiross air conditioning system and chillers New fire alarm system Full access raised floors LED energy efficient lighting with metal suspended ceilingsA total of 270 car parking spaces are provided offering an excellent ratio of 1:230 sq ft, with demised parking at the front and visitor parking at the rear.
10 RECENTLY REFURBISHED TO A GRADE A SPECIFICATION AT A COST OF FIRST Point, Buckingham Gate, Gatwick Airport, Gatwick, RH6 0 PPPrime South East refurbished multi let office investmentACCOMMODATIONThe property has been measured in accordance with the RICS Code of Measuring Practice (6th Edition) and provides the following net internal areas:FLOORUSESQ MSQ FTGroundReception/AtriumGroundOffice1, ,350 FirstOffice1, ,337 SecondOffice1, ,266 ThirdOffice1, ,075 TOTAL5, ,028 GROUND FLOOR NORWEGIANWCWCWCFIRST FLOOR WCWCWCHSBCVACANTWCWCSHOWERSECOND FLOOR CLOSE ASSETMANAGEMENTFASTJETWCWCSHOWERTHIRD FLOOR AMADEUSU/OTO AMADEUSPLANNINGThe vendor where necessary has achieved a release of the Airport related user clause on the building.