The property is held freehold under title numbers BL34979 & BL95955.
The property is let to six tenants: SN Systems Ltd, Barnett Waddingham LLP, Epic Bristol Ltd, RSM UK Management Ltd, Armada Training Solutions Ltd and Hays Specialist Recruitment Ltd with a weighted average unexpired lease term of 7.10 years to expiry
and 5.72 years to lease event.
The contracted passing rent is £1,558,701 per annum, equating to an overall rent of £27.73 per sq ft.
SN Systems Limited
SN Systems Limited is a wholly owned subsidiary of Sony Interactive Entertainment (SIE), a multinational video game and digital entertainment company which is itself owned by Sony Corporation of America. SIE was founded in Tokyo, Japan in 1993 and quickly became Sony's main resource for research and development in video games.
SN Systems Limited is a provider of Microsoft Windows based development tools for games consoles. The company was founded in 1990 and has a long association with the PlayStation line of consoles. In 1999 and again in 2005, SN Systems won a Game Developer Magazine Front Line Award in the Programming Environment category for its Nintendo 64 development product called SN64.
SN Systems Limited (Company No: 02436957) has a Dun and Bradstreet rating of 3A1 which represents a minimum risk of business failure.
Barnett Waddingham LLP
Barnett Waddingham LLP is a leading independent UK consultancy at the forefront of risk, pensions, investment and insurance. They employ over 1,000 people with offices in eight locations around the UK, acting for large and small clients in both the private and public sectors, including 15% of FTSE350 firms with a DB scheme.
Barnett Waddingham LLP (Company No: OC307678) has a Dun and Bradstreet rating of 2A1 which represents a minimum risk of business failure.
Hays Specialist Recruitment Limited
Hays Specialist Recruitment Limited is the leading global specialist recruitment group, and the market leader in places such as the UK, Germany and Australia. They are experts in recruiting qualified, professional and skilled people across a wide range of specialised industries and professions. In 2018 they placed 77,000 people into permanent jobs and 244,000 people into temporary roles worldwide.
Hays Specialist Recruitment Limited (Company No: 00975677) has a Dun and Bradstreet rating of 5A1 which represents a minimum risk of business failure.
Epic Bristol Limited
Epic Bristol Limited is a subsidiary of Epic Systems Corporation, a privately held healthcare software company founded in 1979, which helps people with medical illnesses get well, stay well and help ensure future generations are healthier. More than 250 million patients have a current electronic record in Epic. Their headquarters building is based in Verona, Wisconsin which employs over 9,500 people, as well as offices in Melbourne, Dubai, Singapore, Bristol and Denmark.
Epic Bristol Limited (Company No: 10103103) has a Dun and Bradstreet rating of A2 which represents a lower than average risk of business failure.
RSM UK Management Limited
RSM UK Management Limited (formerly Baker Tilly International) is a provider of audit, tax and consulting services to middle market leaders. It is the seventh largest business advisory firm in the UK and sixth largest globally. The firm offers audit and assurance, risk advisory, outsourcing, tax, consulting, restructuring, transactions and legal services.
RSM UK Management Limited (Company No: 03077999) has a Dun and Bradstreet rating of 1A2 which represents a minimum risk of business failure.
Armada Training Solutions Limited
Armada Training Solutions Limited is a specialist training course provider for professionals specialising in CAD design, creative video and animation training, e-learning, web development training, technical writing and Microsoft office applications. They are both an Adobe Authorised Training Centre (AATC) and an Autodesk Training Centre (ATC). These accreditations ensure a high standard of training activities.
Armada Training Solutions Limited (Company No: 03368837) has a Dun and Bradstreet rating of G3 which represents a greater than average risk of business failure.
Further information can be found within the marketing brochure.
We understand the property is elected for VAT and therefore VAT will be payable on the purchase price.
We are instructed to seek offers in excess of £25,390,000 (Twenty-Five Million Three Hundred and Ninety Thousand Pounds), subject to contract and exclusive of VAT for our client's freehold interest.
A purchase at this level would reflect a net initial yield of 5.75%, assuming standard purchaser's costs of 6.76%. This reflects a capital value of £443 per sq ft.