• Let to Clariant Services UK Limited

• Secure income – Pre-Tax Profit £79,448,000

• Tenant in full occupation

• Asset Management Opportunities

• Offers in the region of £800,000 subject to contract

• Only £98.90 per sq ft capital value

• 9.50% net initial yield

The property is situated approximately 12 km (7.5 miles) to the northwest of Leeds city centre on Rawdon Park which takes access from Focus Way which in turn takes access from the A658 Green Lane.

The property benefits from good accessibility situated on the A658 which links to the A66 New Road Side which connects to Leeds city centre to the south east and Guiseley to the north west. The A658 provides access to the nearby Leeds Bradford Airport only 2.5 km (1.5 miles) to the east and Bradford to the south west.

Amenities in the immediate vicinity include a Sainsbury’s Local and Westside Retail Park a mile away, which is home to various national occupiers including Argos, ASDA, Next, McDonald’s, Halfords, Carphone Warehouse, TK Maxx and Costa.

In addition, the property is adjacent to two exciting new residential developments;

Weavers Beck is a development of 81 high specification three, four and five bedroom homes ranging from 931 sq ft up to 1,493 sq ft. A number of the properties have already been reserved and we understand the guide prices reflect capital values in the region of £260 per sq ft. For more information visit www.camstead.co.uk/developments.

In addition, Green Lane Mills is the renovation and conversion of a historic industrial building into 46 apartments and 93 new build homes. No prices have yet been released however based upon the success of Weavers Beck the scheme is expected to be very popular when it is made available. For more information visit www.greenlanemills.co.uk.

The property comprises a purpose-built modern two-storey office building of brick construction beneath a tiled covered roof with double glazed aluminium windows.

Internally, each floor provides a blend of open plan and partitioned office accommodation to provide various offices, meeting rooms and boardrooms.

The property benefits from the following specification;

• Full height glass atrium

• 8 person, 630 kg lift

• Raised floors

• Suspended ceilings

• Recessed fluorescent strip lighting

• Comfort cooling

• Carpeted

• Kitchen facilities on both floors

• Tarmacadam surface car park with 30 spaces

• Car park ratio 1:25.26 sq m (1:272 sq ft)

The subject property is the branch of Clariant SE and Clariant Plastics & Coatings (UK). The only other branch in the United Kingdom is Clariant Oil Services UK Limited in Aberdeen.

An Environmental Phase 1 Report has been carried out by WSP UK Limited in July 2017 concluding the site represents a Low Risk to contamination. A copy of the report is available and can be addressed to a purchaser on completion.

The current rateable value for the property is £69,500. For more information click here.

The Uniform Business Rate is 47.9 pence per pound for 2017/2018.

The property is let to Clariant Services UK Limited on a Full Repairing and Insuring lease, subject to a Deed of Variation dated 3rd January 2014, for a period of 10 years from 4th August 2009 expiring on 3rd August 2019 at a current passing rent of £80,000 per annum (£105.56 per sq m / £9.80 per sq ft). A Schedule of Condition is annexed to the lease.

The income is well secured to Clariant Services UK Limited (Co. No. 3031202) which has reported the following figures;

The company is a subsidiary of the global speciality chemicals business, Clariant AG, which is also the immediate and ultimate parent undertaking.

Headquartered in Switzerland, Clariant AG is a globally leading company in speciality chemicals with 140 Group Companies employing over 17,000 people. In May 2017 it was announced that Clariant would merge with Huntsman Corporation, an American multinational manufacturer and marketer of chemical products for consumers and industrial customers. The merger, which is due to complete by the end of 2017, would create a combined group called HuntsmanClariant with an enterprise value of $20 billion and 52% controlled by Clariant and 48% owned by Huntsman. Clariant is listed on the Swiss Stock Exchange with a Market Capitalisation of 7.23 billion Swiss Francs. For more information please visit www.clariant.com.

The Seller is registered for VAT and has opted to tax. Therefore, 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 £800,000 (Eight Hundred Thousand Pounds), subject to contract, reflecting a net initial yield of 9.50%, assuming standard purchaser’s costs of 5.49% and a capital value of only £98.90 per sq ft.