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Office - Investment - Building IV Telelink - Swansea

Building IV Telelink

Sandringham Park
Swansea, SA6 8AJ

   

  • Established business area approximately four miles north of Swansea City Centre
  • Modern offices built 2004 comprising approximately 66,855 sq ft
  • Undoubted Government covenant
  • Unexpired term of 5.4 years
  • Net initial yield of 9.5% allowing for acquisition costs of 5.8%

Description

The property comprises a Grade A office building constructed in 2004 totalling 6,211 sq m (66,850 sq ft) over ground and first floors.
The property is of steel portal frame construction beneath a pitched roof and
part brick/clad elevations.

The facility is used by the DVLA as their main contact centre for the UK and
Northern Ireland.

The site totals 1.24 ha (3.07 acres).

Location

The City of Swansea is located approximately 42 miles west of Cardiff and 190 miles from London benefiting from excellent access to the M4 motorway via Junctions 42 through to 47.

Swansea is Wales’ second largest city being the administrative and commercial centre for West Wales with excellent communications by road and rail (London
Paddington 3 hours). Major employers within the City include the Inland Revenue, DVLA, NHS Trusts, Land Registry and further private companies including NTL, EDS, HSBC and Admiral Insurance.

Swansea has a resident population of 237,000 (2001 census) with a further 580,000 people (estimate) living within 30 minute drive time. There are approximately 100,000 people employed in Swansea with the main focus being on the service sector which employs almost 85% of all personnel.

Additional information

The property is held on a long lease from Swansea City Council for a term of 125
years from 20 December 2002 at a fixed rent of £500 per annum.

The property is underlet to The First Secretary of State with the Driver Vehicle
Licensing Agency (DVLA) occupying the property for a term of 15 years from 30
August 2004.The unexpired term is essentially 5.4 years.

Offers sought in excess of £6,670,000 (Six Million, Six Hundred and Seventy
Thousand Pounds) reflecting a net initial yield of 9.5% and a capital value of £99 per sq ft allowing for purchaser’s costs of 5.8%.



Full access raised floors/Suspended ceilings incorporating recessed fluorescent strip lighting/Fully air-conditioned/Two 10-person passenger lifts/Male/female/disabled WC facilities on each floor/Three feature atriums/- Excellent natural light/24-hour manned reception area/Tenant fit-out includes a fully fitted canteen/kitchen facility for 850 staff together with seven additional breakout areas and a back-up power generator/The building is IL3 accredited offering the highest level of security in terms of data storage/processing with secure government internet connections/Excellent car parking ratio 1:275


Access
  • Parking : Yes
  • Number of parking places : 0
  • The subject premises are situated on Sandringham Park within Swansea Vale, approximately 4 miles north of the city centre and lies adjacent to Junctions 44 & 45 of the M4 motorway.
  • Updated: 03/10/2014
    Reference: 758023
    Office: Investment, Freehold
    66,855  max
    £6,332,700 10 % NIY
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    Your contact

    Mr Ed Cornwell
    5 Aldermanbury Square
    EC2V 7HR

    02074848126

    Mr Edward Jackson
    5 Aldermanbury Square
    EC2V 7HR

    0207 338 4032

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