Two Venture Court, Wolverhampton, West Midlands, WV10 6TB

Description

Two Venture Court provides quality office accommodation extending to a total net internal area of 1,384 sq m (14,900 sq ft) with the following specification:

• Suspended ceiling incorporating recessed diffused lighting

• Comfort cooling

• Raised access floors

• Fully DDA compliant

• Elevator facilities

• 69 marked parking spaces

Location

Wolverhampton is a thriving regional city situated in the heart of the West Midlands with a catchment population within a 30 minute drive time of 1.73 million. The city is situated approximately 15 miles (24 km) to the north west of Birmingham and approximately 140 miles (220 km) to the north west of London. Wolverhampton Business Park is situated fronting Junction 2 of the M54 motorway, approximately 4 miles (6.4 km) to the north of Wolverhampton City Centre. It has excellent road networks with the M6 and M6 Toll motorways (4.8 km) to the east providing access to the M1, M5, M40 and M42 motorways. The city also has it’s own mainline railway station with direct services to Birmingham (17 minutes), Manchester (1 hr 10 minutes) and to London Euston (1 hour 35 minutes). The park benefits from fully integrated transport links with a bus route running to and from Wolverhampton City Centre every ten minutes. The park offers excellent facilities including Nuffield Health Fitness & Wellbeing Gym, ABC Children’s Nursery and a Premier Inn with conference facilities and Beefeater Restaurant. The park’s strong fundamentals make it an attractive proposition for national corporate occupiers as demonstrated by ATOS, Bromford Group, Caterpillar, Charter Court Financial Services and Handelsbanken. The M6 Toll provides reliable alternative access to the east and also to rail freight terminals in the region. There are also proposals to provide a link between the M54, M6 and M6 Toll together with a proposed rail freight terminal approximately 3 miles to the north of the site. Due to the Business Park’s proximity to the M54, transport links and amenities, it is considered a prime location for offices in the West Midlands region.

Accommodation

Ground Floor - 7,450 Sq Ft - 692.37 Sq M
Part First Floor - 5,498 Sq Ft - 510.96 Sq M
Part First Floor - 1,952 Sq Ft - 181.41 Sq M
Total - 14,900 Sq Ft - 1,384.74 Sq M

Tenancy

Ground Floor - King & Moffatt UK Ltd – Lease start 09/05/2022 – Lease Expiry 08/05/2027 – Rent PA £120,200 – ERV £133,579
King & Moffatt Building Services are award winning Mechanical & Electrical Contractors who have been in business for over 45 years, operating throughout Ireland, the United Kingdom and Mainland Europe, with an annual turnover in the region of €150 million (see kingmoffatt.com).

Part First Floor - SGS United Kingdom Ltd – Lease start 23/03/2023 – Lease Expiry 22/03/2033 – Break Date 23/03/2028- Rent Review 23/03/2028 - Rent PA £90,500– ERV £98,579
SGS are the world's leading testing, inspection and certification company. They are recognized as the global benchmark for sustainability, quality and integrity, with 97,000 employees operate a network of 2,650 offices and laboratories (source: www.sgs.com).

Part First Floor - Newstead Clark Financial Services – Lease start 07/09/2024 – Lease Expiry 06/09/2030 – Break Date 06/09/2027- Rent PA £35,000– ERV £35,000 – Recently renewed lease equating to £17.93 psf
Newstead Clark are an independent financial advisory firm with over 15 years of experience and expertise, having offices in Wolverhampton & Birmingham city centre (see newsteadclark.co.uk). Newstead Clarke have recently committed to a new lease of £35,000 PER ANNUM at the property

Price

Offers based on £2,850,000

Proposal

£2,850,000 (Two million eight hundred and fifty thousand pounds) is sought for the Freehold interest. An acquisition at this level would reflect a net initial yield of 8.09% after allowing for purchaser’s costs of 6.43%.

Service Charge

There is a running service charge applicable to the estate, payable proportionally by the sitting tenants. Full service charge information is available on request to the sole agents.

VAT

VAT will be payable on the purchase price, however, we anticipate the transaction to be treated as a TOGC.

EPC

Available upon request.

Legal Costs

Each party are to be responsible for their own legal costs that may be incurred in this transaction.

Anti Money Laundering

In accordance with Anti Money Laundering Regulations, two forms of identity and confirmation of the source of funding will be required from the successful purchaser.

Disclaimer

A director of Bond Wolfe has a vested interest in the property