Llys CastanParc MenaiBangorNorth Wales

A well let investment opportunityRoyal Mail & RSPBUnit 14Llys CastanParc MenaiBangor

ForSale

Location:

The historic city of Bangor is located at thenorth-west tip of Wales and is the gateway cityto the Isle of Anglesey and the SnowdoniaNational Park as well as being a university cityand the main regional shopping centre forGwynedd.

Bangor is situated approximately 50 miles tothe west of Chester, 10 miles north-west ofCaernarfon and 25 miles east of Holyhead. Thecity provides direct access across the MenaiStraights to the Isle of Anglesey and benefitsfrom strong road communications lying on theA55 expressway, which connects the NorthWales coastal towns with the M56 to the east.

The city has a residential population ofapproximately 20,000 and attracts shoppersfrom within the county of Gwynedd (118,000)and residents of the Isle of Anglesey (67,000).Virgin West Coast Rail operates a direct service,via Crewe to London (Euston) withan approximate journey time of 3 hours 25minutes. A regular ferry service to Dublin isavailable.

Situation:

The property forms part of the highly successfuland award winning Parc Menai Business Parkwhich is strategically located adjacent to thejunction of the A487 (T) with Junction 9 of theA55, approximately 3 miles west of the towncentre.

The mature park, which extends to over 75acres, has been developed progressively sincethe mid 1990’s and has attracted majoroccupiers including NatWest, NSPCC, SecureTrading, Intec, North Wales Police and CollegMenai’s Arts, Design and Media Centre.

Description:

The property comprises a two storey detachedmodern office building of brick construction be-neath a pitched roof finished to a high specifi-cation including the following.

Suspended Ceilings DDA Platform Lift G7 light fittings Air Conditioning Raised floor Opening Double glazing

Externally there are 26 designated car parkingspaces (1:237 sq ft) all in a landscapedenvironment

Accommodation:

The property has the following net internal areas.

Tenure:

The property is held long leasehold for a term of 250years(less 3 days) from the 3rd February 2006subject to a peppercorn rental.

Management Company:

A service charge is levied for the maintenance of theestate. The service charge is currently administeredby Gladman Estate Management (Gem) Ltd. Servicecharge budget for period 11/12 is £2,073.53

Vat:

The property is elected for VAT and VAT will thereforebe payable on the purchase price.

Providing certain criteria are met the transaction maybe treated as a Transfer of a Going Concern

FLOOR AREAS SQ FT SQ M

Unit 14a (Ground) 3018 280.37

Unit 14b (First) 3127 290.50

TOTAL 6145 570.87

Energy Performance Certificate:

Tenant Details:

RSPB is the UK charity working to secure a healthy environment for birds and otherwildlife incorporated by Royal Charter on 3rd November 1904. For the year endingMarch 2009 they had an income of over £111million and net assets of over £116million.

Further information on the company can be found on their website atwww.rspb.org.uk

The Royal Mail Group Ltd is the parent company of Royal Mail, Post Office®andParcelforce Worldwide. For the year ending March 2009 they had an income of over£9,560 million and made an operating profit of £321 million. The ultimate parentcompany is Royal Mail Holdings PLC a public limited company wholly owned by theUK Government.

Further information on the company can be found on their website atwww.royalmailgroup.com

Tenancy:

Ground Floor

The ground floor of the property is let to The Royal Society for the Protection of Birds (RSPB) for a term of15 years commencing 9th November 2009. There is a tenants break option in years 5 and 10 together withcorresponding rent reviews.

The annual rental is currently £20,120.00 p/a rising to £30,180.00 p/a from 09th November 2011. Thelease is drawn up on effective full repairing and insuring terms.

First Floor

The first floor of the property is let to The Royal Mail Group Ltd for a term of 10 years commencing 14thJuly 2008. There is a Rent Review in year 5.

The annual rental is currently £31,270 p/a. The lease is drawn up on effective full repairing and insuringterms.

Proposal:

Our clients are seeking offers in excess of £725,000.00 subject to contract, which would reflectan attractive net yield of 6.7% after allowing for usual purchasers costs of 5.75%,a reversion-ary yield of 8% and a equivalent yield of 7.86%

This equates to a capital value of £124.76 per square foot based on the quoted price.

Further Information & Viewing:

Should you require any furtherinformation or wish to viewplease contact Richard Baddeley.

Richard Baddeley & CompanyEstate OfficeAwelonGarth RoadGlan ConwyLL28 5TD01492 58068007836 611638rrbaddeley@hotmail.com

Misrepresentation Act 1967(Conditions under which particulars are issued) Richard Baddeley & Company for themselves and for the Vendors or Lessors of this property whose Agents they are give notice that:1. The particulars are set out as a general outline only for the guidance of intending purchasers or lessees, and do not constitute, nor constitute part of, an offer or contract2. All descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to becorrect but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to thecorrectness of each of them.3. No person in the employment of Richard Baddeley & Company has any authority to make or give any representation or warranty whatever in relation to this property.4. All maps are for identification purposes only and should not be relied upon for accuracy.5. Unless otherwise stated, all prices and rentals quoted are exclusive of Value Added Tax to which they may be subject.

Finance Act 1989Unless otherwise stated, all prices and rents are quoted exclusive of VAT.

Property Misdescriptions Act 1991These details are believed to be correct at the time of compilation, but may be subject to subsequent amendment.