The property is situated on Exeter's premier office campus, Pynes Hill, situated approximately 1 mile from the M5 (Junction 30) and 2 miles from Exeter city centre, with excellent cycle connections.
Emblem House is a modern, detached two storey office building.
The building has a dedicated car park with entrance barrier and 35 car spaces in total, 4 of which offer EV charging.
The building is let on a full repairing lease to Emblem International Ltd for a term of 10 years from 7 July 2016.
Location
The property is situated on Exeter’s premier office campus, Pynes Hill, situated on the eastern periphery of Exeter, backing onto Ludwell Valley Park and accessed off Rydon Lane. Pynes Hill is approximately 1 mile from the M5 (Junction 30) and 2 miles from Exeter city centre, with excellent cycle connections. The building occupies an attractive position set back from the road and backing on to Ludwell Valley Park. Nearby occupiers include Michelmores Solicitors, The NFU, Jurassic Fibre, Devon & Somerset Law Society and Nexus Open Systems. It is also a short walk from a Costa Coffee Drive Thru, Tesco Superstore and Rydon Lane Retail Park.
Accommodation
6,856.89 sq ft (637.02 sq m)
Terms
Services We are advised that all main services are connected to the premises. We confirm that we have not tested any of the service installations and any occupier must satisfy themselves independently as to the state and condition of such items
Tenancy The building is let on a full repairing lease to Emblem International Ltd for a term of 10 years from 7 July 2016. The rent was increased at the 5th year review to £92,000 per annum exclusive.
Covenant Emblem International Limited (Company No. 01259130) are rated 80 “Very Low Risk” on Creditsafe with a net worth of £675,061 at 31/03/2022.
Proposal The freehold is for sale for £1,100,000. This reflects a net initial yield of 7.9% allowing for purchaser costs. The price reflects a low capital value of £160.00 per sq ft.
Planning We are verbally advised that the accommodation has planning consent for office use. There is scope under permitted development rights, using the policy Class MA, business to residential on this 0.75 acre plot, but any purchaser should make their own enquiries to the Planning Department of Exeter City Council. Tel: 01392 265223 or Exeter City Council
Business Rates Interested parties should make their own enquiries to Exeter City Council to ascertain the exact rates payable as a change in occupation may trigger an adjustment of the ratings assessment.. www.voa.gov.uk. Rateable Value April 2023/2024: £97,500
Energy Performance Certificate The EPC Rating is C (72) and the full certificate can be provided on request.
Planning | Rates | EPC Legal Costs Each party is to be responsible for their own legal costs.
VAT Under the Finance Acts 1989 and 1997, VAT may be levied on the purchase price. We recommend that the prospective tenants/purchasers establish the VAT implications before entering into any agreement. AML A successful purchaser will be required to provide relevant information to satisfy the AML requirements when Heads of Terms are agreed
Specification
- Suspended ceilings
- Fully accessible raised floors
- Onsite parking
- Kitchen
- WC facilities
- Electric vehicle charge points