0116 365 1111

Severn House, Vantage Office Park, Bristol. BS16 1GW

Modern Offices Let on New 10 Year FRI Lease
  • High Quality detached office building.
  • 9,991 sq.ft. (928 m2) over three floors.
  • New 10 year FRI Lease to Oasis Healthcare Ltd
  • 30 Car Parking Spaces
  • £162,921 pax (£16.30/sq.ft.)

 

Offers Around £3m

Investment Summary

  • Well let modern office investment opportunity
  • Located on a modern North Bristol office park
  • Accessed from J1 of the M32 and within 6 minutes of J16 of the M5
  • Within 1.3 miles of Bristol Parkway railway station with direct links to London Paddington.
  • Refurbished offices over three floors.
  • 9,991 sq.ft. with 30 car spaces
  • New 10 year lease to Oasis Healthcare Ltd with tenant break at the end of the fifth year.
  • Oasis have an Experian Credit Rating of 86/100
  • Freehold

Location

Vantage office park is situated off Old Gloucester Road in the North Bristol office area. It is close to Junction 1 of the M32 and within 4 miles of the A38 and junction 16 of the M5.

Bristol Parkway railway station is within 1.3 miles offering fast journey times to London Paddington (70 minutes), South Wales, the South West and the Midlands.

Situation

The property occupies a prominent position on the entrance to Vantage Office Park and is adjacent to a similar separate office building occupied by the Oasis Healthcare.

Users in the vicinity are mainly office occupiers although there is a Greene King pub opposite and the Bradley Stoke Leisure Centre and Brook Retail Centre (anchored by Tesco) is nearby.

Description

The property was constructed in 2008 and comprises modern office space over three floors with 30 car parking spaces.

The accommodation has been refurbished by the ingoing tenant and now offers high quality office space with lift to all floors, air conditioning and double glazing throughout.

Accomodation

Floor areas quoted are based on plans available in the Data Room (see below) and are summarised as follows:

Floor Sq Ft M2
Ground 3,317 308.2
First 3,337 310.0
Second 3,337 310.0
Total 9,991 928.2

 

Tenancy

Let under a new 10 year FRI lease to Oasis Healthcare Ltd from October 13th 2018.

The intial rent is £163,921 pax (£16.30/sq.ft).  To reflect ingoing tenant refurbishment works, the initial rent is concessionary being discounted from the ERV of £18.00/sq.ft. In addition a six month rent free was granted from commencement which will be topped up by the vendor

There is a tenant only break clause at the end of the fifth year on giving 9 months written notice.

 

Covenant

The tenant is Oasis Healthcare Ltd who have an Experian Credit rating of 86/100 and a credit limit of £3.1m.

Oasis Healthcare’s ultimate parent is BUPA which has a credit rating of 100/100 and a credit limit of £10m.

Tenure

Freehold

VAT

The property has been elected for VAT and it is anticipated that the transaction will be by way of a Transfer of a Going Concern (TOGC).

Proposal

Offers invited in the region of £3m

Contact Information

Adam Burdett

0116 365 1111

07734 111005

adam@intali.com

Associated Files