• Strategic Greater London location

• Modern office investment

• Secure income

• Investment value underpinned by VP value

• £1,300,000, subject to contract

• 7.53% Net Initial Yield

• £252 per sq ft Capital Value

Crossways is an office led scheme made up of 3 million square feet of high quality commercial buildings with a blend of hotels and amenities to satisfy the onsite demands of employees and occupiers. The environment has been carefully landscaped and is maintained to provide a high quality business setting and to give the opportunity for employees to enjoy the lakeside walks and wildlife.

Waterside Court is situated on the southern border of the Business Park neighbouring Schooner Park to the west, Moat Housing to the east and the lake to the north. The London to Gillingham railway line lies directly behind the subject property.

Access to the M25 (Junction 1a) is within 0.5 mile (800 metres) of the property and is some 0.8 miles (1.3 km) west of Stone Crossing Railway Station. Other well-known occupiers on the Business Park include Laing O’Rourke, Kuehne and Nagel, HSBC, Mazda Motors, John Lewis Distribution Centre and Howdens.

The property comprises a stand-alone, two storey office building completed in 2009. Constructed from a steel frame with brick and metal clad elevations, the property benefits from 25 marked car parking spaces (including two disabled spaces) set within a U-shaped office complex.

Internally the property provides attractive office accommodation with a specification including suspended ceilings, reception area, lift, LG7 lighting, perimeter trunking, a Very Good BREEAM rating, DDA compliant WC facilities and comfort cooling.

We understand the Rateable Value for the property is currently £95,000.

The Uniform Business Rate is 48 pence per pound for 2015/2016.

A Phase I Environmental Risk Assessment was carried out by BWB Consulting Limited in September 2016 which concluded that the site represents a low risk with respect to contaminated land and ground stability liability issues. A copy of the report is available to download and a reliance letter is available to a purchaser.

The estimated service charge for Waterside Court for the year to 31st December 2016 is £27,750. Copies of the service charge accounts and service charge budgets are available to download.

Dynasafe BACTEC Limited, (formerly BACTEC International Limited Co. No. 02601923) has reported the following figures:

Dynasafe, a global market leader in the disposal of unexploded ordnance and other hazardous materials. Ordnance disposal is a segment of the CBRNe industry, CBRNe encompasses protection from and containment of chemical, biological, radiological and nuclear hazards and explosive devices. 

With over 20 years of experience, Dynasafe is the only organisation capable of providing the full package of surveying, locating, clearing, containing, transporting and disposing of CBRNe (Chemical, Biological, Radiological, Nuclear, explosives) materials. Their experience includes more than 1000 UXO and demining projects globally; over 20 chemical and conventional demilitarisation plants deployed and more than 250 containment chambers and integrated protection systems. All this against a background of 100 years of accumulated experience in the operation of disposal plants.

The group was formed in 2012 from the well-known market leaders GRV-Luthe (Germany), BACTEC (UK), MineTech (UK) - all active in area clearance - and Dynasafe Demil & Protection Systems (both Sweden) - active in conventional/chemical munitions destruction and EOD systems, bomb disposal and explosion protection. The headquarters is located in London, UK.  For further information please visit dynasafe.se.

The property has been registered for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

We are instructed to seek offers in the region of £1,300,000 (One Million, Three Hundred Thousand Pounds), subject to contract, reflecting a net initial yield of 7.53% and a capital value of £2,711 per sq m / £252 per sq ft, assuming purchaser’s costs of 5.99%.