Crewe House, 4 Oak Street, Crewe, Cheshire, CW2 7BZ

Description

Constructed in 1956, Crewe House extends to 17,887 sq. ft. (1,662.36 sq m) over three floors and comprises a variety of partitioned and open plan accommodation accessed from a communal staircase and entrance. The property The accommodation is fully carpeted throughout with suspended ceilings incorporating recessed CAT 2 florescent lighting, central heating and w/c’s on each floor.

Externally, the property benefits from 38 onsite car parking spaces and additional parking facilities by way of a pay and display directly opposite the property.

Location

Crewe House occupies a prominent position at the corner of Oak Street and Edleston Road and is a few hundred meters from Crewe town centre and 1.1 kilometers from Crewe Mainline Railway Station. Crewe is the largest town in South Cheshire and located 57 miles north west of Birmingham, 36 miles south of Manchester and 14 miles west of Stoke on Trent. Junction 16 of the M6 motorway is 4 miles to the east of Crewe town centre via the A532 and A500. Otherwise the A534 leads north to Sandbach and Junction 17 of the M6 motorway. Crewe Railway Station is one of the busiest transport hubs in the North West and a new HS2 Hub will be created in due course. Once complete the new super hub for HS2 high speed rail will create a focal point for the North and reduce travel times to London from 1 hour 35 minutes to just 55 minutes. TRANSPORTATION TRANSIT/SUBWAY Altrincham Station (Manchester Metrolink) Platform 1 Stamford New Road (The Clock Tower) - 36 min drive | 25.9 mi Navigation Road (Manchester Metrolink) Platform 1 - 36 min drive | 25.9 mi Timperley (Manchester Metrolink) Platform 1 Park Road (The Liberal Club) - 38 min drive | 26.6 mi Brooklands (Manchester Metrolink) Platform 1 Brooklands Road (Marsland House) - 40 min drive | 27.7 mi Sale (Manchester Metro link) Platform 1 Off School Road (School Road Bridge) - 42 min drive | 28.3 mi COMMUTER RAIL Crewe Commuter Rail - 13 min walk | 0.7 mi Nantwich Commuter Rail - 11 min drive | 5.8 mi Sandbach Commuter Rail - 13 min drive | 6.2 mi Alsager Commuter Rail - 14 min drive | 7.2 mi Winsford Commuter Rail - 18 min drive | 8.9 mi AIRPORT Manchester Airport - 39 min drive | 28.4 mi Liverpool John Lennon Airport - 60 min drive | 42.7 mi

Accommodation

Ground Floor West
Occupier - Fedcap Employment Ltd
Area - 3,700 (343.80 sq m)

Ground Floor East & Rear Courtyard
Occupier - Jojo's Day Nursery
Area - 4,232 (393.30 sq m)
Notes - Tenant also occupies the rear courtyard

Rear Ground Floor West
Occupier - UK Data Group Ltd
Area - 961 sq. ft. (89.32 sq m)

Part First Floor
Occupier - Ice Communications Ltd
Area - 5,050 sq. ft. (469.33 sq m)

Part First Floor
Area - 2,134 sq. ft. (198.32)

Second Floor
Occupier - Ice Communications Ltd & Communal
Area - 1,810 sq. ft. (168.23 sq m)

Total - 17,887 sq. ft. (1,662.36 sq m)

Tenure

Freehold, subject to the existing tenancies.

Tenancy

Ground Floor West
Area - 3,700 sq. ft. (343.80 sq m)
Occupier - Fedcap Employment Ltd
Lease - 01/11/2021 - 31/10/2026
Current Rent PA - £45,000

Ground Floor East & Rear Courtyard
Area - 4,232 sq. ft. (393.30 sq m)
Occupier - Jojo's Day Nursery
Lease - 01/04/2022 - 31/03/2031
Current Rent PA - £60,000
Break Clause - At 01/04/2024 & 01/04/2027
Rear Courtyard included within lease.

Rear Ground Floor West
Area - 961 sq. ft. (89.32 sq m)
Occupier - UK Data Group Ltd
Lease - 01/01/2021 - 31/12/2026
Current Rent PA - £6,000

Part First & Part Second Floor
Area - 5,050 sq. ft. (469.33 sq m)
Ice Communications Ltd
Lease - 25/01/2024 - 24/01/2031
Current Rent PA - £132,000
Break Clause - At 3rd Anniversary

Part First Floor
Area - 2,134 sq. ft. (198.32 sq m)
ERV of £36,000

TOTAL
Area - 17,887 sq. ft. (1,662.36 sq m)
Current Rent PA - £243,000

TENANT PROFILES -

Ice Communications Limited
Founded in 2008, Ice Communications (co number 09180490) is a provider of low cost business mobile, landline and energy solutions and operates from offices in Crewe, Manchester, Chester, Portsmouth and Tamworth. Accounts for the period ending 30/12/2022 show a turnover of £15,334,554.

Jojo's Day Nursery
Jojo's Day Nursery (co number 11470592) is a child day care operator, providing childcare services to the wider Crewe area.

Fedcap Employment Ltd
Fedcap Employment Ltd (co number 11840592) operate out of 18 nationwide offices and are part of The Fedcap Group who were founded in the USA in 1935. Today, The Fedcap Group serves over 340,000 people worldwide each year, helping to achieve long-term economic wellbeing by focusing on Workforce development, Educational services, Health services and Economic development. Accounts for the year end 30/09/2022 show a turnover of £38,525,131.

Price

Offers based on £2,300,000 are invited for the Freehold interest, subject to the existing tenancies. A purchase at this level equates to a net initial yield of 9.53%, allowing for purchaser’s costs of 6.34%.

Service Charge

There is a variable service charge payable by the occupational tenant towards the up-keep of the communal areas. Further details are available upon.

VAT

We are advised that VAT is not applicable.

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.