PREMIER INN A WHITBREAD - HSM Chartered Surveyors · GRAVESEND TOWN CENTRE - 1 MILE PORTFOLIO...
Transcript of PREMIER INN A WHITBREAD - HSM Chartered Surveyors · GRAVESEND TOWN CENTRE - 1 MILE PORTFOLIO...
Let on long leases with indexed income to Whitbread Group Plc
PORTFOLIO SALEA WHITBREAD
4 Prominent Freehold Hotel and Restaurant Investments
on behalf of NFU Mutual
PREMIER INN
OVERVIEW• Four freehold hotel investments with combined restaurants.
• Let to the undoubted covenant of Whitbread Group Plc (D&B 5A1).
• Let for in excess of 20 years expiring on 18 December 2037.
• Reviews five yearly to compound CPI with a collar and cap of 0% and 4% per annum.
• Rent £1,759,469 pa – based on CPI levels as at March 2017.
• Rent equates to approximately £3,950 per room.
• Provides a mixture of secure income and asset management opportunities.
• Strong trading performance across the portfolio.
• Individual or packaged offers will be considered.
• Lot sizes range from £6.9m to £11.7m with offers in excess of £34,693,000 being sought for the four properties, producing a net initial yield of 4.75%, (assuming acquisitions costs of 6.77%).
SUMMARY SCHEDULE Address Hotel
RoomsRestaurant (GIA) Site Rent† Price
Brand sq m sq ft Parking Acres
Welwyn Garden City Stanborough Road, AL8 6DQ 120 Beefeater 751.40 8,088 141 2.40 £594,670 £11,726,000
Gravesend (Central) Wrotham Road, DA11 7LF 55 Beefeater 1,022.03 11,001 114 1.89 £346,362 £6,829,000
Liverpool (West Derby)# Queens Drive, L13 0DL 85 Beefeater 781.04 8,407 127 2.75 £447,800 £8,830,000
Norwich (Airport)* Holt Road, Delft Way, NR6 6BB 64 Brewers Fayre 794.41 8,551 116 2.58 £370,637 £7,308,000
Total 324 3,348.88 36,047 9.62 £1,759,469 £34,693,000
# Liverpool - notification received to extend the number of rooms of the hotel - details awaited.* Norwich - the hotel was extended in 2014 by a further 16 rooms by way of a tenant’s alteration. total number of room is now 80.† Projected rents based on March 2017 CPI levels.
WELWYN GARDEN CITY
LIVERPOOL
GRAVESEND
NORWICH
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4 Prominent Freehold Hotel and Restaurant Investments PORTFOLIO
WHITBREAD
PREMIER INN & BEEFEATER RESTAURANT
WELWYN GARDEN CITYSTANBOROUGH ROAD, AL8 6DQ
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PORTFOLIOWHITBREAD
WELWYN GARDEN CITYSTANBOROUGH ROAD, AL8 6DQ
A6129WELWYN TOWN CENTRE - 1 MILE
HATFIELD TOWNFOOTBALL CLUB
GOSLING SPORTS CENTRE
BURROWFIELD INDUSTRIAL ESTATE
HERTFORDSHIRE CONSTABULARY HQ
PORTFOLIOWHITBREAD
LOCATIONWelwyn Garden City is strategically located approximately 38km (24 miles) north of central London and has a population of 46,619 (2011). The town benefits from excellent road communications being adjacent to the A1(M) which provides direct access to London and the north east. Junction 8 of the M1 motorway is located approximately 16km (10 miles) to the west and junction 23 of the M25 12km (8 miles) to the south. There are direct rail services from Welwyn Garden City into both London’s Kings Cross and Moorgate Stations with a fastest journey time of approximately 30 minutes. Luton Airport is only 21 km (13 miles) to the north west of the town.
SITUATIONThe property is prominently located on the A6129 Stanborough Road, just to the south of the town centre and a short walk to the station. The hotel is well positioned for the A1(M), junctions 4 & 5 and the nearby interests of Gosling Sports Centre, Hatfield Town FC, Stanborough Park, Hatfield House and Knebworth House. Residents can also take advantage of the hotel’s proximity to the rail station which is a short walk away, providing a quick and frequent service to central London
LUTON
STANSTED
HEATHROW
CITY
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M25
M4
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M1
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M11
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A24
A40
A20
A4
Harrow
Hitchin
Windsor DartfordDartfordWellingWellingRichmond
WoolwichWoolwich
RomfordRomford
Maidenhead Uxbridge
Staines
Slough
Beaconsfield
Watford
Amersham
Welwyn Garden City
HatfieldHoddesdon
Bishop's Stortford
Barnet Enfield
St Albans
Dunstable
Berkhamsted
Tring
HemelHempstead
Stevenage
Harlow
BrentwoodBrentwood
Luton
LONDON
WELWYNRUGBY
FOOTBALLCLUB GROUND
HATFIELD TOWNFOOTBALL CLUB
LEMSFORDSPRINGS
STANBOROUGH PARK
A1(M
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A1(
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A1(M
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WELWYN GARDEN CITYSTANBOROUGH ROAD, AL8 6DQ PORTFOLIO
WHITBREAD
DESCRIPTIONThe property comprises two adjoining buildings, a 120 bedroom Premier Inn and The Stanborough Beefeater, a bar and restaurant with 2 staff flats above. The hotel was fully refurbished in 2012 and the restaurant in 2010 but having had a recent refit. The area to the front of the site is landscaped and there is provision for parking 141 cars.
The bar and restaurant have been measured by Plowman Craven and the Gross Internal Areas are estimated as follows.
Floor UseArea
Sq m Sq ft
First Residential 133 1,436
Ground Bar & Restaurant 618 6,652
Total 751 8,088
WELWYN GARDEN CITYSTANBOROUGH ROAD, AL8 6DQ PORTFOLIO
WHITBREAD
SITEThe site extends to approximately 0.97 hectares (2.40 acres).
TENUREFreehold.
LEASEThe property is let to Whitbread Group plc for a term of 25 years from 19th December 2012 (just over 20 years unexpired) on an FRI basis with 5 yearly reviews to CPI, having a collar of 0% and a cap of 4%. The rent will be topped up to the March 2017 CPI increase which produces a rent of £594,670 pa (circa £3950 per room and £14.67 psf overall on the restaurant). The tenant has two rights to renew the lease for a further 15 years on each occasion.
EPCThe property has the following EPC ratings. Copies of the report are available on request.
Premier Inn - C70Stanborough Beefeater - D86
ASSET MANAGEMENTThe site currently has as low site cover of 21.27% and given the affluent southeast location and surrounding area, the property could in the longer term suit residential conversion or redevelopment subject to planning. The low site cover also provides Whitbread with the option to expand the hotel and restaurant facilities as required.
VATThe property has been elected for VAT and VAT will be chargeable on the transaction if not sold by way of a TOGC.
PROPOSALOffers in excess of £11,726,000 are sought for the freehold investment, subject to contract, which produces a net initial yield of 4.75% based on acquisition costs of 6.77%
WELWYN GARDEN CITYSTANBOROUGH ROAD, AL8 6DQ PORTFOLIO
WHITBREAD
PREMIER INN & BEEFEATER RESTAURANT
GRAVESEND (CENTRAL)WROTHAM ROAD, DA11 7LF
2
PORTFOLIOWHITBREAD
GRAVESEND (CENTRAL)WROTHAM ROAD, DA11 7LF
WROTHAM ROADGRAVESEND TOWN CENTRE - 1 MILE
PORTFOLIOWHITBREAD
LOCATIONGravesend is a historically important town in north west Kent on the south bank of the Thames Estuary located 35km (21 miles) south east of central London. A Thames Gateway commuter town, it retains strong links with the River Thames, not least through the Port of London Authority Pilot Station. The town has a population of 66,000 (2011) and is the administrative centre of the Borough of Gravesham. Gravesend has witnessed rejuvenation since the advent of direct High Speed 1 rail services to London St Pancras with a fastest journey time of 25 minutes. The town sits just to the north of the A2 which links to the M2 approximately 6 miles to the east and to the M25, 6 miles to the west. Gatwick Airport is readily accessible via the M25 and is approximately 41 miles to the west.
SITUATIONGravesend Central Premier Inn is located on the A227 Wrotham Road, 1 mile north of a full access junction to the A2 dual carriageway. The surrounding area is mainly residential forming part of the affluent Woodlands and Singlewell. Gravesend town centre and the industries of the Thames Estuary are just over a mile away, with the Eurostar mainline station only 2.5m miles away, providing speedy access to Paris Gare Du Nord (2 hours 28 mins) and Disneyland Paris. Bluewater Shopping Centre is within easy reach just over 5 miles to the west. In the long term Gravesend will benefit from the proposed Thames tunnel to the east of the town which the Government has just selected as their preferred route.
HEATHROW
GATWICK
CITY
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M2
M1
M25
M25
M23
M25M26
M25
M20
M11
A24
A23
A20A2
A4
Canvey IslandCanvey Island
RayleighRayleigh
RedhillRedhill
Harrow
New ThamesCrossing
Southend-on-SeaSouthend-on-Sea
MaidstoneMaidstone
RochesterRochester
GillinghamGillingham
ChathamChatham
TonbridgeTonbridge
SevenoaksSevenoaks
OxtedOxtedReigateReigateDorking
Leatherhead
CroydonCroydon
BromleyBromleySwanleySwanley
DartfordDartfordWellingWelling TilburyTilbury
GraysGrays
Epsom
SuttonSutton
Kingston upon Thames
Richmond
WoolwichWoolwich
RomfordRomford
Barnet Enfield
BrentwoodBrentwood
BasildonBasildon
LONDON
Gravesend
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LONDON ROAD
HIGH STRE
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A2 WATLING STREET
A2
GRAVESEND
GRAVESENDGRAVESEND
EBBSFLEET R I V E R T H A M E S
WOODLANDS PARK
MID-KENTGOLF CLUB SOUTHERN
VALLEYGOLF CLUB
GRAVESEND (CENTRAL)WROTHAM ROAD, DA11 7LF PORTFOLIO
WHITBREAD
DESCRIPTIONThe property comprises two separate buildings, a 55 bedroom Premier Inn and The Woodlands Beefeater, a bar and restaurant. The hotel is a modern two storey construction extended and refurbished in 2007. The Woodlands Beefeater is a period building which has had a recent refit and is arranged over three floors with the restaurant and separate bar at ground floor and a large function room on the first floor. A manger’s office, changing rooms and one bedroom flat are located at second floor. Ample parking (114 spaces) is provided in front of the hotel and the restaurant.
The bar and restaurant have been measured by Plowman Craven and the Gross Internal Areas are estimated as follows.
Floor UseArea
Sq m Sq ft
Second Residential 171 1,838
First Bar & Restaurant 243 2,618
Ground Bar & Restaurant 467 5,021
Basement Store 141 1,524
Total 1,022 11,001
GRAVESEND (CENTRAL)WROTHAM ROAD, DA11 7LF PORTFOLIO
WHITBREAD
SITEThe site extends to approximately 0.76 hectares (1.89 acres).
TENUREFreehold.
LEASEThe property is let to Whitbread Group plc, for a term of 25 years from 19th December 2012 (just over 20 years unexpired) on an FRI basis with 5 yearly reviews to CPI, having a collar of 0% and a cap of 4%. The rent will be topped up to the March 2017 CPI increase which produces a rent of £346,362 pa (circa £3950 per room and £11.65 psf overall on the restaurant). The tenant has two rights to renew the lease for a further 15 years on each occasion.
EPCThe property has the following EPC ratings. Copies of the report are available on request.
Premier Inn - C74Woodlands Beefeater - C75
ASSET MANAGEMENTWith the town’s improved links to central London and the affluent micro location adjoining Woodlands Park, the site could in the longer term lend itself to residential redevelopment subject to obtaining the usual planning consents. The low site cover of 18.09% provides the scope for a denser scheme and offers the opportunity of expansive land for future growth by the tenant.
VATThe property has been elected for VAT and VAT will be chargeable on the transaction if not sold by way of a TOGC.
PROPOSALOffers in excess of £6,829,000 are sought for the freehold investment, subject to contract, which produces a net initial yield of 4.75% based on acquisition costs of 6.77%
GRAVESEND (CENTRAL)WROTHAM ROAD, DA11 7LF PORTFOLIO
WHITBREAD
PREMIER INN & BEEFEATER RESTAURANT
LIVERPOOL (WEST DERBY)QUEEN’S DRIVE, WEST DERBY, L13 0DL
3
PORTFOLIOWHITBREAD
LIVERPOOL (WEST DERBY)QUEEN’S DRIVE, WEST DERBY, L13 0DL
QUEEN’S DRIVELIVERPOOL CITY CENTRE - 3 MILES
PORTFOLIOWHITBREAD
LOCATIONLiverpool is a major UK city and metropolitan borough in north west England with a population of 466,415 (2011). Liverpool is located 55km (34 miles) west of Manchester, 29km (18 miles) north of Chester and 331km (206 miles) north of London. The city benefits from excellent road communications being served by the M57, M58 and M62 which provide onward access to the M6, 12 miles to the east. There are direct train services from Liverpool Lime Street station to London Euston with a fastest journey time of 2 hours and 30 minutes. Manchester and Birmingham can be reached by rail in 33 minutes and 1 hour 44 minutes respectively. The city is served by Liverpool John Lennon Airport.
SITUATIONThe property is prominently located on the A5058 Queens Drive ring road, 2 miles north of the M62 and 3 miles east of the city centre via the A5049. The surrounding area provides a mix of good quality residential and commercial property including a newly opened Aldi and M&S Foodhall next door. The property is close to Alder Hey Childrens Hospital as well Broadgreen Hospital and Rathbone Hospital. The property also benefits from being the nearest branded budget hotel to both Anfield and Goodison Park football grounds. Easy access to the city centre provides residents with a cheap alternative to more expensive city hotels.
MANCHESTER
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2928
M6
M53 M56
M58
M61
M60
M60
M62M62
M62M6
M66
M65M55
ClitheroeColne
Nelson
Accrington
Skipton
Rawtenstall
Todmorden
Brighouse
Chorley
Darwen
Lytham St Anne's
Formby
Leyland
Ormskirk
Otley
Fleetwood Ilkley
Bingley
Shipley
Leek
Bebington
Flint
Kirkby
Prestatyn
Macclesfield
Buxton
Burnley
Blackburn
Keighley
Halifax
Huddersfield
Bury
Rochdale
Bolton
Preston
Blackpool
Southport
Wigan
EllesmerePort
Crewe
Chester
BRADFORD
MANCHESTER
Liverpool
A5049
RO CKY LANE
A5
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A5058
QUEE
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QUEENS
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EDGE LANE
MIL
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BARNFIELD DR
MELW
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TOW N ROW
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PRESCOT ROAD
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THOMAS DR
ANFIELDCEMETERY
WALTONCLUBMOOR
RECREATIONALGROUND
EDINBURGHPARK
NORRISGREENPARK
WALKERPLAYINGFIELDS
LIVERPOOL (WEST DERBY)QUEEN’S DRIVE, WEST DERBY, L13 0DL PORTFOLIO
WHITBREAD
DESCRIPTIONThe property comprises two buildings, a two storey 85 bedroom Premier Inn and The Stag & Rainbow Beefeater, a bar and restaurant. The hotel was fully refurbished in 2008 and the restaurant in 2007 with a recent refit undertaken. The Stag & Rainbow Beefeater is arranged over two storeys; the restaurant and bar is at ground floor with staff accommodation comprising a three bedroom manager’s flat at first floor. The area to the front of the site is landscaped and there is provision for parking 127 cars.
The bar and restaurant have been measured by Plowman Craven and the Gross Internal Areas are estimated as follows.
Floor UseArea
Sq m Sq ft
First Residential/Office 115 1,243
Ground Bar & Restaurant 666 7,164
Total 781 8,407
The tenant has notified the landlord that they would like to expand the hotel element. Further details of this are awaited.
LIVERPOOL (WEST DERBY)QUEEN’S DRIVE, WEST DERBY, L13 0DL PORTFOLIO
WHITBREAD
SITEThe site extends to approximately 1.11 hectares (2.76 acres).
TENUREFreehold.
LEASEThe property is let to Whitbread Group plc for a term of 25 years from 19th December 2012 (just over 20 years unexpired) on an FRI basis with 5 yearly reviews to CPI, having a collar of 0% and a cap of 4%. The rent will be topped up to the March 2017 CPI increase which produces a rent of £447,800 pa (circa £3950 per room and £13.16 psf overall on the restaurant). The tenant has two rights to renew the lease for a further 15 years on each occasion.
EPCThe property has the following EPC ratings. Copies of the report are available on request.
Premier Inn - D90The Stag & Rainbow Beefeater - E106
ASSET MANAGEMENTIn the short term there may be the opportunity to fund a proposed hotel extension that Whitbread are considering. In the longer term the site would lend itself to a number of alternative uses given its prominent situation fronting Liverpool’s main ring road and the low site cover of 18.21%.
VATThe property has been elected for VAT and VAT will be chargeable on the transaction if not sold by way of a TOGC.
PROPOSALOffers in excess of £8,830,000 are sought for the freehold investment, subject to contract, which produces a net initial yield of 4.75% based on acquisition costs of 6.77%
LIVERPOOL (WEST DERBY)QUEEN’S DRIVE, WEST DERBY, L13 0DL PORTFOLIO
WHITBREAD
PREMIER INN & BEEFEATER RESTAURANT
NORWICH AIRPORT HOTELDELFT WAY, NORWICH AIRPORT, NR6 6BB
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PORTFOLIOWHITBREAD
NORWICH AIRPORT HOTELDELFT WAY, NORWICH AIRPORT, NR6 6BB
HOLT ROADNORWICH CITY CENTRE - 3 MILES
NORWICHAIRPORT
APPLEGREEN PETROL STATION
PORTFOLIOWHITBREAD
LOCATIONNorwich is a city and the county town of Norfolk as well as being the administrative centre for East Anglia. The city has a population of 213,166 (2011). Norwich is located 177km (110 miles) north east of London, 104km (65 miles) south east of Peterborough and 67km (42 miles) north of Ipswich. Access to and from Norwich is via the A11 from Cambridge and the M11. There are direct train services to London Liverpool Street with a fastest journey time of 1 hour 49 minutes. Norwich is served by its own airport, located 3.5 miles to the north of the city centre, providing national and international flights.
SITUATIONNorwich Airport Premier Inn is located on the approach to Norwich Airport, fronting the A140 Holt Road and accessed from Delft Way. The surrounding area comprises a mix of commercial and residential uses including offices, sports facilities, restaurants and hotels. Neighbouring properties include a McDonalds drive thru restaurant, a Porcelanosa retail warehouse and a Toyota/Lexus motor dealership. Located opposite is a Tesco Express and to the rear, across Delft Way, there is a Holiday Inn Hotel, and several office buildings. The property is conveniently situated for Norwich Airport which extends to approximately 700 acres to the north and handled 506,007 passengers in 2016. The hotel also provides affordable rooms for businesses to the north of the city as well as an economical alternative to the pricier city centre hotels.
NORWICH
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M11 A12
A14
A14A14
A11
A14
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A11
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A47
A47A47A47
A47
A17
A10
A10
A10
A10
A146
A146 A143
A143
A143
A134
A140
A134
A140
A140
A140A148
A148
A149
A142
A142
A141
A1065
A1101
A1122A1065
A1065A1066
EastDereham
Thetford
Stowmarket
Bury St Edmunds
Newmarket
Mildenhall
Ely
Swaffham
Cromer
King'sLynn
Wisbech
Downham Market
March
Norwich
Cambridge
Great Yarmouth
Lowestoft
NORWICHINTERNATIONAL
AIRPORTA14
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HO
LT RD
A14
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CR
OM
ER
RD
A14
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BOUNDARY RD
A1042 MILE CROSS LANE
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B11
50ROYAL
NORWICHGOLF CLUB
NORWICH AIRPORT HOTELDELFT WAY, NORWICH AIRPORT, NR6 6BB PORTFOLIO
WHITBREAD
DESCRIPTIONThe property comprises two adjoining buildings, a two storey 64 bedroom Premier Inn and The Oaks Brewers Fayre, a bar and restaurant. The hotel is of modern two storey construction having been developed in 2003 with an extension in 2009. A further extension was undertaken by way of a tenant’s alteration in 2014, adding an additional 16 bedrooms, creating a total of 80 bedrooms (the latter which are not rentalised). The Oaks Brewers Fayre was constructed in 2003, refurbished in 2009 and recently refitted. The property is arranged over ground and part first floors with the restaurant and bar at ground floor. Staff accommodation comprising a bedsit, one bedroom flat and a three bedroom flat is at first floor. With the recent extension additional parking was created and there are now 116 spaces.
The bar and restaurant have been measured by Plowman Craven and the Gross Internal Areas are estimated as follows.
Floor UseArea
Sq m Sq ft
First Residential 177 1,903
Ground Bar & Restaurant 617 6,648
Total 794 8,551
NORWICH AIRPORT HOTELDELFT WAY, NORWICH AIRPORT, NR6 6BB PORTFOLIO
WHITBREAD
SITEThe site extends to approximately 1.04 hectares (2.57 acres).
TENUREFreehold.
LEASEThe property is let to Whitbread Group plc for a term of 25 years from 19th December 2012 (just over 20 years unexpired) on an FRI basis with 5 yearly reviews to CPI, having a collar of 0% and a cap of 4%. The rent will be topped up to the March 2017 CPI increase which produces a rent of £370,637 pa (circa £3950 per room and £13.66 psf overall on the restaurant). The tenant has two rights to renew the lease for a further 15 years on each occasion.
EPCThe property has the following EPC ratings. Copies of the report are available on request.
Premier Inn - D76Oaks Brewers Fayre - D96
ASSET MANAGEMENTThe property was extended by Whitbread in 2014 creating an additional 16 bedrooms. There may be an opportunity to retrospectively fund this extension to increase asset value returns. Given the prominent roadside location and proximity to the expanding Norwich Airport, the site would suit range of alternative commercial and residential uses in the longer term. Currently the site cover is only 19.25%.
VATThe property has been elected for VAT and VAT will be chargeable on the transaction if not sold by way of a TOGC.
PROPOSALOffers in excess of £7,308,000 are sought for the freehold investment, subject to contract, which produces a net initial yield of 4.75% based on acquisition costs of 6.77%
NORWICH AIRPORT HOTELDELFT WAY, NORWICH AIRPORT, NR6 6BB
Tenant’s Extension 2014
PORTFOLIOWHITBREAD
COVENANTWhitbread PLC is the UK’s largest hotel and restaurant company. It is a market leader in the budget hotel and restaurant sectors. Its brands include Premier Inn, Beefeater, Brewers Fayre, Table Table and Costa Coffee. The company employs around 50,000 people in the UK and serves 27 million customers every month.
Whitbread PLC has a Fitch rating of BBB and a D&B rating of 5A1. Whitbread PLC’s full year accounts to 3rd March 2016 reported turnover of £2,921.8 million (up 12.0%), pre-tax profits of £487.7 million (up 5.2%) and net assets of £1,977.9million to £2,404.7 million.
Whitbread PLC is the parent company of the consolidated Whitbread group and is a constituent of the FTSE 100 on the London Stock Exchange. Whitbread PLC does not trade but owns 100% of the share capital of Whitbread Group PLC, the main Whitbread trading entity.
Whitbread Group PLC (the tenant company) is a trading company within the group which additionally holds investments in the rest of the group. The accounts of Whitbread Group PLC for the year ending 3rd March 2016 showed a turnover of £2,921.8 million, pre-tax profits of £495.0 million and net assets of £2,655.4 million. The company has a D&B rating of 5A1.
Premier Inn is the UK’s leading hotel business, with over 730 hotels and more than 64,000 rooms across the UK. In 2015 they opened their first hotels in Germany, Thailand and Indonesia. Internationally, they now have six hotels in the Middle East, three in India, two in South East Asia and one in Germany, with more in the pipeline.
For the year 2015/16 Hotel and Restaurant revenue grew by 9.8%. This was driven by a net addition of 6,123 new Premier Inn rooms and four new restaurants.
Whitbread are continuing their growth strategy with plans for 85,000 UK hotel rooms by 2020
PROPOSITIONOffers are sought either as a whole or in part for this portfolio of four properties. Individual prices have been quoted with a figure in excess of £34,693,000 sought for the four properties, subject to contract. Assuming acquisition costs of 6.77%, this would produce a net initial yield of 4.75%.
Misrepresentation DISCLAIMER - Messrs Hoddell Stotesbury Morgan Limited (9050701) trading as HSM, for themselves and for the vendors of this property whose agents they are give notice that:- (i) the particulars are set out as a general outline only for the guidance of intending purchasers and do not constitute, nor constitute part of, an offer or contract; (ii) all descriptions, dimensions, references to conditions and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchaser should not rely upon them a statement or representations of fact but should satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of HSM has any authority to make or give any representation or warranty whatever in relation to this property. (iv) unless otherwise stated all rents or prices quoted are exclusive of VAT which may be payable in addition. (v) HSM has not made any investigations or otherwise of any issues concerning pollution and potential land, building, air or water contamination. Prospective purchasers must undertake their own enquiries and satisfy themselves in this regard. Date: May 2017.
FURTHER INFORMATIONPlease contact:
Tim Morgan DD: 020 7318 1933 Mob: 07775 654795 Email: [email protected]
Andrew Taylor DD: 020 7318 1934 Mob: 07811 946001 Email: [email protected]
115 Mount Street London W1K 3NQ Tel: 020 7629 2030
PORTFOLIOWHITBREAD