• 2 HIGH QUALITY FREEHOLD INVESTMENTS FOR SALE

• LET TO PRIME TENANTS AND SITUATED CLOSE TO THE M1 & M25 MOTORWAYS

• LOW CAPITAL VALUE OF £120.40 PER SQUARE FOOT

UNITS 2 & 3 THE WILLOWS • MARK ROADHEMEL HEMPSTEAD • HERTFORDSHIRE • HP2 7BN STEVEN

ROSENASSOCIATESC HARTE RED SURVEYORS & IN

VEST

MEN

T CO

NSU

LTAN

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THE WILLOWS

INVESTMENT SUMMARY

Two high quality modern freehold office

investments totalling 36,129 sq ft with 89

designated parking spaces.

Well located in the main Maylands Business

Area close to Hemel Hempstead town centre,

the M1 and M25 motorways.

Local Major Occupiers include BP, ACT, Unisys

Computers, Kodak HQ, Dixons. ASOS, DuPont,

BSI, Next, Toshiba, Gillette, GIST and Epson.

Let to the prime tenants, Draeger Medical Uk

Ltd, guaranteed by Draegerwerk AG & Co

KGaA and Capita Managed IT Solutions

Limited, a company wholly owned by

Capita PLC.

Guaranteed total income of £390,985 per

annum exclusive, reflecting an average rent of

only £10.82 per square foot with a rent review

on Unit 3 on 9 December 2015 and a fixed

increase on 15 October 2016 on Unit 2.

Low capital value of only £120.40 per

square foot.

Offers in excess of £4.35 million, subject to

contract and exclusive of VAT.

Attractive net initial yield of 8.49% after

purchaser’s costs of 5.8%.

UNITS 2 & 3 THE WILLOWS • MARK ROAD • HEMEL HEMPSTEAD • HERTFORDSHIRE • HP2 7BN

THEWILLOWS

THEWILLOWSWILL

THESWOWILL

THEWILL SWOWILL

The Willows is located within the well established Maylands Business Area, approximately 1

mile east of the town centre. The Willows is on Mark Road just off Maylands Avenue, which

provides excellent links to both the M1 Junction 8, approximately 1.5 mile (2.4 km) and the

M25 Junction 21 approximately 4 miles (6.4 km).

Hemel Hempstead with a population of some 90,000 is located within Hertfordshire only

26 miles (41.8 km) north west of London, 9 miles (14.5 km) north of Watford and 11 miles

(17.7 km) south of Luton and the International Airport.

The town provides fast and frequent rail services to London Euston with a journey time of

25 minutes and to the national rail network.

Major occupiers in the area include BP, ACT, Unisys Computers, Kodak HQ, Dixons, ASOS,

DuPont, BSI, Next, Toshiba, Gillette, GIST and Epson.

LOCATION

LONDON

UNITS 2 & 3 THE WILLOWS • MARK ROAD • HEMEL HEMPSTEAD • HERTFORDSHIRE • HP2 7BN

THE WILLOWS

M1 • JUNCTION 8

UNITS 2 & 3 THE WILLOWS • MARK ROAD • HEMEL HEMPSTEAD • HERTFORDSHIRE • HP2 7BN

h

Maylands Wood

LB

MARK ROAD

ElSub Sta

Saracen Estate

1

El Sub Sta

6

12 4

34

27

31

Focus

0m 25m 50m 75m

Ordnance Survey © Crown Copyright 2015. All rights reserved. Licence number 100022432. Plotted Scale - 1:1392

UNIT 1

UNIT 2

UNIT 3

SOLD OFF

CAPITA

DRAEGER

THE WILLO

WS

PARKING ALLOCATIONS

UNIT 1 • 66 SPACES

UNIT 2 • 54 SPACES

UNIT 3 • 35 SPACES

TOTAL: 155 SPACES

NOTE: On each lease only the building footprint is demised. The leases refer to the no of spaces allocated to each unit but the above layout is at the landlords discretion.

THE WILLOWS • SITE DEMISE

UNITS 2 & 3 THE WILLOWS • MARK ROAD • HEMEL HEMPSTEAD • HERTFORDSHIRE • HP2 7BN

UNIT 2 • THE WILLOWS

The premises comprise a detached modern high office content

production/warehouse facility of steel frame construction, concrete

floor slabs and aluminum double glazed units providing a continuous

glazed area on all elevations of both floors providing excellent

natural light throughout.

The unit benefits from full gas fired central heating, three phase

electricity and ample male and female toilets.

Approximately 65% of the ground floor has been fitted out by the

tenant providing offices, research and development space together

with storage facilities.

The first floor is mainly open plan and provides high quality offices

with suspended ceilings, fully accessible raised floors and has

recently been extensively refurbished by the tenant.

The property benefits from 54 designated parking spaces with a

ratio of 1:401 sq ft.

UNITS 2 & 3 THE WILLOWS • MARK ROAD • HEMEL HEMPSTEAD • HERTFORDSHIRE • HP2 7BN

UNIT 3 • THE WILLOWS

The premises comprise a detached modern high office content

production/warehouse facility of steel frame construction, concrete

floor slabs and aluminum framed double glazed units providing a

continuous glazed area on all elevations of both floors providing

excellent natural light throughout.

The unit benefits from full gas fired central heating, three phase

electricity and ample male and female toilets.

The ground floor has been fitted out to provide a mix of office and

production space. The accommodation is flexible enough to be used to

provide additional offices, research and development space.

The first floor is mainly open plan and provides high quality offices

around a central atrium with suspended ceilings and fully accessible

raised floors.

The property benefits from 35 designated parking spaces with a ratio

of 1:413 sq ft.

UNITS 2 & 3 THE WILLOWS • MARK ROAD • HEMEL HEMPSTEAD • HERTFORDSHIRE • HP2 7BN

Unit 2 is let to Draeger Medical UK Limited (Co. Registration Number: 4310199) on

an effective Full Repairing & Insuring lease for a term of 10 years from 4th

January 2011 and expiring 14th October 2021. The current passing rent is

£235,000 per annum (£10.84 per sq ft) with a fixed increase on 15 October 2016

to £256,960 per annum reflecting only £11.85 per sq ft.

The tenant has a break option on 8th January 2019 upon serving not less than 12

months notice. In the event of the break being operated, the tenant will pay a rent

penalty of £78,333. However, if the tenant does not exercise the break clause they

will be receive a further three months rent free from 25th December 2018. The

tenant has been in occupation since March 2002. In February 2013 the tenant

carried out further internal fit out works of circa £250,000.

The lease is guaranteed by the German parent company Draegerwerk

AG & Co KGaA.

The vendor will top up the rent upon completion of the sale so that the purchaser

receives the full rental of £256,960 per annum.

Unit 3 is let to Capita Managed IT Solutions Limited Formally Northgate

Managed Services Ltd (Co. Registration Number: N132979) a wholly owned

subsidiary of Capita IT Services Holdings Ltd (Co. Registration Number

6002593) on an effective Full Repairing & Insuring lease from 9th December

2010 and expiring 1st October 2020. The passing rent is £134,025 per annum

reflecting only £9.27 per sq ft with a rent review on 2nd October 2015. The lease

is contracted outside the Landlord and Tenant Act 1954. The tenant has been in

occupation since October 2006.

The tenants are wholly owned by Capita PLC.

GRAND TOTAL 36,129 3,356.47

UNIT 3 SQ FT SQ M

FIRST FLOOR OFFICES 6,441 598.40

GROUND FLOOR OFFICES/PRODUCTION 8,011 744.28

TOTAL 14,452 1,342.68

SQ FT SQ M

UNIT 2 SQ FT SQ M

FIRST FLOOR OFFICES 8.027 745.73

GROUND FLOOR OFFICES 10,154 943.30

GROUND FLOOR PRODUCTION/WAREHOUSE 3,496 324.76

TOTAL 21,677 2,013.79

TENANCIES & ACCOMMODATION

UNITS 2 & 3 THE WILLOWS • MARK ROAD • HEMEL HEMPSTEAD • HERTFORDSHIRE • HP2 7BN

COVENANT

Draeger Medical UK Ltd is a wholly own subsidiary of Draegerwerk AG,

Lübeck, Germany.

Dräger is an international leader in the fields of medical and safety technology.

Founded in Lübeck in 1889, Dräger has grown into a worldwide, DAX-listed enterprise

in its fifth generation as a family-run business.

Dräger has nearly 11,000 employees worldwide and is present in over 190 countries

around the globe. The Group maintains sales and service organisation in over 40

countries. Its development and production facilities are based in Germany, UK,

Sweden, South Africa, the USA, Brazil, the Czech Republic and China.

Draeger Medical UK Ltd, was formed in 1968 to handle sales of medical equipment

in the UK. In 1989 Draeger Ltd acquired Draeger Medical Ltd, which became the

Medical Division.

Draeger Medical UK Ltd offers products, services and integrated CareArea™ Solutions

throughout the patient care process – Emergency Care, Critical Care, Perinatal Care,

Perioperative Care, Patient Monitoring & IT Solutions, Lifecycle Solutions and

Architectural Systems. Draeger Medical UK’s goal is to provide solutions that support

patient centred processes for high quality and effectiveness, which are also more

cost effective.

Please click the logo for further information

DRAEGER MEDICAL UK LTD 31 DECEMBER 2013 31 DECEMBER 2012

TURNOVER £35,993,000 £36,825,000

PRE-TAX PROFIT £9,020,000 £8,870,000

SHAREHOLDER FUNDS £5,258,000 £6,180,000

DRÄGER GROUP 31 DECEMBER 2013 31 DECEMBER 2012

TURNOVER €2,374,164,000 €2,373,495,000

PRE-TAX PROFIT €1,147,565,000 €1,167,010,000

MARKET CAPITAILISATION €1,404,046,000 €1,065,022,000

UNITS 2 & 3 THE WILLOWS • MARK ROAD • HEMEL HEMPSTEAD • HERTFORDSHIRE • HP2 7BN

COVENANT

CAPITA MANAGED IT SOLUTIONS LTD (Formerly Northgate Managed Services Ltd)

Capita plc. acquired Northgate Managed Services Limited from Northgate

Information Solutions on 12th March 2013. The business is now known as Capita

Managed IT Solutions and is part of Capita IT Services Ltd.

Capita Managed IT Solutions provides cloud based and infrastructure services and

solutions to public, private and third sector organisations and specialist managed

services in the education, government, utilities and charities sectors.

They work in partnership with their customers to gain an in-depth understanding of

their organisation and create a technology strategy together, to support

transformation, drive operational efficiency and ultimately reduce costs.

They employ over 1,000 staff, supporting 2,000 customers across the UK, 2,500

schools and colleges and 450,000 IT users and over the next three years they plan to

invest £29.9 million and create 400 new jobs.

CAPITA GROUP

Capita Group is one of the UK’s leading provider of business process management

and integrated professional services employing over 64,000 people at more than

350 sites across the UK, Europe, South Africa and India.

They are a £3.9 billion turnover organisation and a FTSE 100 company with

Shareholder funds of over £896 mill ion.

Capita Managed IT Solutions is a wholly owned subsidiary of Capita IT Services

Holdings Ltd which is one of the largest UK based IT services company in the UK

with resource of over 3,700 IT Professionals, many with specialist market expertise

within Local Government, Financial Services, Education, Commercial and Health.

CAPITA MANAGED IT SOLUTIONS LTD(FORMALLY NORTHGATE 18 MONTHS ENDEDMANAGED SERVICES LTD) 31 OCTOBER 2013 30 APRIL 2012

TURNOVER £200,839,000 £139,880,000

PRE-TAX PROFIT (£1,971,000) £3,732,000

SHAREHOLDER FUNDS £17,836,000 £66,728,000

CAPITA IT SERVICESHOLDINGS LTD 31 DECEMBER 2013 31 DECEMBER 2102

ADMINISTRATIVE EXPENSES (£536,910) (£478,393)

PRE-TAX PROFIT £22,136,090 £28,721,607

SHAREHOLDER FUNDS £179,220,448 £179,681,196

CAPITA PLC 31 DECEMBER 2013 31 DECEMBER 2102

TURNOVER £3,896,200,000 £3,351,800,000

PRE-TAX PROFIT £215,000,000 £281,000,000

SHAREHOLDER FUNDS £896,300,000 £878,100,000

Please click the logo for further information

RATEABLE VALUE

VAT

The business rates multiplier for 2014/2015 is 48.2p in the £.

UNITS 2 & 3 THE WILLOWS • MARK ROAD • HEMEL HEMPSTEAD • HERTFORDSHIRE • HP2 7BN

The property has been elected for VAT and will be

treated as a Transfer Of Going Concern (TOGC).

TENUREFreehold. (As outlined in red on the site demise).

PROPOSALWe are instructed to seek offers in excess of £4.35 million subject to

contract for the freehold. This reflects a net initial yield of 8.49%

after purchaser’s costs of 5.8%. A purchase at this level represents

an overall capital value of £120.40 per square foot.

The vendor will top up the rent upon completion of the sale so that

a purchaser receives the full rental of £390,985 per annum equating

to an average rental of only £10.82 per sq ft overall.

EPCUnit 2 = EPC rating of 90 (D)

Unit 3 = EPC rating of 97 (D)

Both certificates are available on request.

PROPERTY DESCRIPTION RATEABLE VALUE

UNIT 2 OFFICES, WORKSHOP & PREMISES £174,000

UNIT 3 OFFICES & PREMISES £99,500

VIEWINGSTo arrange a viewing please

contact the sole agent:

Steven Rosen

T: 020 7935 7022

E: steven@sraprop.co.uk

STEVENROSENASSOCIATESC HARTE RED SURVEYORS & IN

VEST

MEN

T CO

NSU

LTAN

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Misrepresentation Act 1967

The accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other detailscontained herein is not guaranteed and is for general guidance only and prospective purchasers or tenants must not rely on them asstatements of fact or representations and must satisfy themselves as to their accuracy. Neither Steven Rosen Associates nor any of theiremployees or representatives has any authority to make or give representation or warranty or enter into any contract whatever in relationto the Property. Rents and prices quoted in these particulars may be subject to VAT in addition. The reference to any mechanical orelectrical equipment or other facilities at the Property shall not constitute a representation (unless otherwise stated) as to its state orcondition or that it is capable of fulfilling its intended function. Prospective tenants/purchasers should satisfy themselves as to thefitness of such equipment for their requirements. February 2015.