Padgate Business Park, Office Investment, Green Lane, Padgate, Warrington, WA1 4JN

  • 13192 sq ft
Investment
£1,000,000

OFFICE INVESTMENT – MULTI TENANTED, ATTRACTIVE FORMER SCHOOL BUILDING  – UNDER OFFER

New Reduced Price – Offers Over £1,000,000

Location

Padgate Business Centre is located 2 miles north-west of Warrington Town Centre. The motorway network is accessible within 1.5 miles at junction 21 of the M6, which is between the intersections of the M56 and M62 motorways.

Padgate Rail Station is also on Green Lane and this serves the Manchester to Liverpool route whilst in the Town Centre, a regular national rail service is available to London Euston in under 2 hours.

Description

The property comprises three Victorian buildings on a 1.1 acre (0.445 hectares) site. Originally forming school buildings, which have been converted into office accommodation providing suites of various sizes.

The buildings are of attractive appearance with brick elevations under pitched and slated roof slopes. The site has ample parking with potential for further development whether by further construction or change of use.

Maple House and Rowan House are interconnected through a single storey link section, both of these buildings and Beech House have individual toilet and kitchen facilities.

Tenancy Schedule

The suites are let on Tenancy Agreements which provide for an inclusive payment (no Service Charge) apart from metered electricity and Business Rates.

Vacant Suites

There are currently 3 office suites available, at an estimated rental value of £26,134

Tenancies

Tenancy Schedule

The suites are let on Tenancy Agreements which provide for an inclusive payment (no Service Charge) apart from metered electricity and Business Rates.

Vacant Suites and Vacant Plot

There are currently 3 office suites available, at an estimated rental value of £26,134.There is also a 433m2 plot previously occupied by a dance studio, which provides development opportunity.

Tenancies

The majority of the Tenants occupy on short term “licences” and are holding over on these Tenancy Agreements. The exception is Global Technology Limited who occupy Suites 10 & 11 being the majority of Beech House, on a lease expiring 30 June 2016. Great School For All Children are not in occupation.

The licence fees/rentals are inclusive (no Service Charge) with the exception of electricity and Business Rates.

Suite Building Tenant / Licensee Ft² Lease

Commenced

Lease Term Rent

(per annum)

ERV
Suite 1 & 2 Maple House Sense 53.5 576  11/01/2016  1 Year £5,376
Suite 3 Maple House Lodge Service UK Ltd 42 448 18/11/2012 1 Year £6,388
Suite 4 Maple House Vacant 57 614 £7,350
Suite 5 Maple House Solutions 2 Enterprise Ltd 25 270 2009 1 Year £3,500
Suite 6 Maple House Vacant 56 604  £7,250
Suite 7 Maple House Internet for Everything Ltd 62 668 01/08/2010 1 Year £8,000
Suite 8 Maple House Internet for Everything Ltd 57 608 02/01/2006 1 Year £8,000
Suite 9 Beech House Bedardo Ltd 80 865  04/07/2016 1 Year  £12,000
Suite 10 Beech House Global Technology Ltd 101 1,090 01/07/2013 3 Years £11,620
Suite 11 Beech House Global Technology Ltd 269 2,891 01/07/2013 3 Years £32,380
Suite 12 Rowan House Red Line @ Home (Bolton) Ltd 57 612 1/12/2015 1 Year £6,732
Suite 13 Rowan House Ashwood Business Services Ltd 56 603 1/12/2015 1 Year £6,633
Suite 14 Rowan House Hello Web Ltd 71 763 06/12/2013 1 Year £8,263
Suite 15 Rowan House British Power International Ltd 57 612  20/02/2006 Monthly Rolling £9,250
Suite 16 Rowan House Vacant 62 667 £8,000
Suite 17 Rowan House Vacant 42.5 463  £5,555
Suite 18 Rowan House Padgate Business Services (NW) Ltd 78 838 1/12/2015 1 Year £9,218
TOTAL     1226 13,192     £127,360 £28,155

Tenure

Freehold.

Sale Price

We are instructed to seek offers over £1,000,000.

Residential Options

As can be seen on the plans section drawings have been completed which show the feasibility of conversion to 29 residential units.

Viewing

By appointment with Sole Agents: Morgan Williams LLP: 01925 414909 (Ref: Malcolm Morgan)

 

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Contact Information:

Morgan Williams

Mobile: 01925 414909 Fax: 01925 637619

720 Mandarin Court, Centre Park, Warrington, WA1 1GG