Planning Report, M&E and Building Surveys have been undertaken and are fully assignable to the purchaser. Full copies are available on the data-site.
The current annual service charge budget for the year ending 31st march 2017 for Tower Centre Shopping Centre is £819,752.00 per annum, which equates to £4.63 per sq ft. The service Charge is apportioned on the rateable valuation.
We have been asked to invite offers in excess of £6,000,000 (Six Million Pounds Sterling) subject to contract and exclusive of VAT. An offer at this level reflects a net initial yield of 10.04%, after allowing for purchaser’s costs of 6.63%.
Copies of the Energy Performance Certificates are available on the data-site.
The property is registered for VAT and it is proposed this transaction will be treated as a Transfer of a Going Concern.
A secure data-site with additional supporting information can be found at www.towercentreinvestment.com/data-room.
For further information, including access to the datasite, please contact:
Subject to Contract and exclusive of VAT © Lambert Smith Hampton January 2016
Disclaimer: Lambert Smith Hampton Group Limited and its subsidiaries and their joint agents if any (“LSH”) for themselves and for the seller or landlord of the property whose agents they are give notice that: (i) These particulars are given and any statement about the property is made without responsibility on the part of LSH or the seller or landlord and do not constitute the whole or any part of an offer or contract. (ii) any description, dimension, distance or area given or any reference made to condition, working order or availability of services or facilities, fixtures or fittings, any guarantee or warrantee or statutory or any other permission, approval or reference to suitability for use or occupation, photograph, plan, drawing, aspect or financial or investment information or tenancy and title details or any other information set out in these particulars or otherwise provided shall not be relied on as statements or representations of fact or at all and any prospective buyer or tenant must satisfy themselves by inspection or otherwise as to the accuracy of all information or suitability of the property. (iii) No employee of LSH has any authority to make or give any representation or warranty arising from these particulars or otherwise or enter into any contract whatsoever in relation to the property in respect of any prospective purchase or letting including in respect of any re-sale potential or value or at all. (iv) Price or rent may be subject to VAT and any prospective buyer or tenant must satisfy themselves concerning the correct VAT position. (v) Except in respect of death or personal injury caused by the negligence of LSH or its employees or agents, LSH will not be liable, whether in negligence or otherwise howsoever, for any loss arising from the use of these particulars or any information provided in respect of the property save to the extent that any statement or information has been made or given fraudulently by LSH. (vi) In the case of new development or refurbishment prospective buyers or tenants should not rely on any artists’ impressions or architects’ drawings or specification or scope of works or amenities, infrastructure or services or information concerning views, character or appearance and timing concerning availability or occupation and prospective buyers or tenants must take legal advice to ensure that any expectations they may have are provided for direct with the seller or landlord and LSH shall have no liability whatsoever concerning any variation or discrepancy in connection with such matters. March 2017