The Hayfield Business Park comprises 11 modern office units of two storey height and constructed in both detached and semi-detached format around centre car parking areas.
The offices are of frame construction with facing brick external elevations incorporating full height glazed reception areas under pitched roofs with cladding coverage.
Internal layout typically affords entrance lobby with male/female WC facilities, stairwell and passenger lift providing access to open plan office areas on both floor levels incorporating kitchen amenities.
The site has low maintenance largely perimeter landscaping with 120 designated car parking bays.
Location
The Hayfield Business Park has a frontage to Hayfield Lane at the traffic light controlled crossroads which provide main road entry into the Doncaster Sheffield International Airport.
The property lies 7 miles to the south-east of Doncaster town centre and within 4 miles of Junction 3 of the M18 with access via the recently opened Great Yorkshire Way link road.
Several industrial estates/business parks lie to the edge of the airport including Fountain Court, Delta Court, Sky Park, Avro Park and Kestrel Court together with new build stand alone warehouses. As a result the area is now well regarded in a regional context as an important industrial/warehouse/ business park location.
Hayfield Lane benefits from neighbourhood shopping facilities including a Cooperative Supermarket. Children’s nursery facilities are in short walking distance on the airport estate.
Accommodation
The total net internal floor area of the development is 3,817 sq m (41,091 sq ft) approx.
Individual letting units vary in size from 126 sq m (1,355 sq ft) to 485 sq m (5,225 sq ft) approx.
Terms
TENURE - The property is held on a 999 year lease from March 2006. The buildings previously sold on premium leases are edged blue on the site plan.
SERVICE CHARGE - Details of the Estate Service charge covering landscape maintenance, security, car park lighting etc. are included in the data room. A Building Service charge operates on Units 8 & 11 where ground and first floors are occupied by separate companies. The Landlord currently subsidises an element of the ground floor Tenant’s contribution to the Building Service charge of Unit 8 with the arrangement subject to review in December 2021.
ENERGY PERFORMANCE CERTIFICATE (EPC) - Copies of Energy Performance Certificates and Recommendation Reports are available in the data room.
VAT - The property has been elected for VAT and therefore VAT will be payable on the purchase price. It is however anticipated that the sale will be treated as a transfer of a going concern (TOGC).
PROPOSAL - Offers are invited in excess of £1,800,000 (one million eight hundred thousand pounds) for our clients virtual freehold interest in the Hayfield Business Park, subject to contract and exclusive of VAT. Offers at this level would reflect a gross initial yield of 8% assuming usual purchaser’s costs.
Specification
- Prime business park investment comprising 11 individual offices occupied by 13 companies with 5 units Let on occupational leases and fully income producing.
- Located to the edge of the Doncaster Sheffield International Airport complex approx. 4 miles from Junction 3 of the M18 with direct access via the Great Yorkshire Way link road.
- Property held on a virtual freehold interest.
- Current rental income of £155,360 per annum.
- Modern two storey buildings in detached/ semi-detached format with passenger lifts and built to allow separate occupation of ground and first floors.
- Let to a good regional tenant base including ACS (UK) Ltd, DS Operations, Speedclad Ltd, G2M Capital and the Focus Collection.
- Commercial WAULT of 4.26 years to lease expiries and 2.06 years to break options.
- Site area of 0.86 Ha (2.13 Acres) approx.
- Offers sought in excess of £1,800,000 (one million eight hundred thousand pounds) for the virtual freehold interest, subject to contract and exclusive of VAT reflecting a net initial yield of 8%.