Meridian House, 2-4 The Grove Slough Berkshire SL1 1QP

Meridian House, 2-4 The Grove
Slough
Berkshire
SL1 1QP

Freehold Office Investment

Prominent modern office building entirely let to Micros-Fidelio UK Limited
Approximately 1,105.6 sq m (11,904 sq ft) with excellent parking
Established office location close to the A4, M4, Slough Railway Station and the proposed crossrail link
Adjacent property also occupied by the tenant while Amazon’s UK headquarters is situated diagonally opposite
Six Week Completion Available
Principal Rent £190,464 p.a.x. (Concessionary Rent of £154,752 p.a.x. being paid until July 2016) (see notes 3 & 4)

Lot
7
Auction
23rd May 2013
Rent
£190,464 per Annum Exclusive
Status
Sold
Price
£1,465,000
Sector
Office
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA
On behalf of Joint Administrators at Moorfields Corporate Recovery

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Freehold Office Investment

Prominent modern office building entirely let to Micros-Fidelio UK Limited
Approximately 1,105.6 sq m (11,904 sq ft) with excellent parking
Established office location close to the A4, M4, Slough Railway Station and the proposed crossrail link
Adjacent property also occupied by the tenant while Amazon’s UK headquarters is situated diagonally opposite
Six Week Completion Available
Principal Rent £190,464 p.a.x. (Concessionary Rent of £154,752 p.a.x. being paid until July 2016) (see notes 3 & 4)

Lot 7
Auction 23rd May 2013
Rent £190,464 per Annum Exclusive
Status Sold
Price £1,465,000
Sector
Office
Auction Venue
The Dorchester Hotel
Park Lane Entrance
Mayfair
London W1K 1QA
On behalf of Joint Administrators at Moorfields Corporate Recovery

Property Information

Location

Miles: 20 miles west of Central London; 17 miles east of Reading; 4 miles north of Windsor
Roads: A4, A412, M4 (Junction 6)
Rail: Slough Railway Station (approx 35 miles to London Paddington)
Air: London Heathrow Airport, London Luton Airport, London City Airport

Situation

The property is situated in a prominent position on the western side of The Grove, an established office area close to the A412 which connects with Windsor Road to the west and Yew Tree Road to the east. Both roads provide direct access to the A4 and M4. The surrounding area comprises retail to the north and residential to the south.

Tenure

Freehold.

Location

Miles: 20 miles west of Central London; 17 miles east of Reading; 4 miles north of Windsor
Roads: A4, A412, M4 (Junction 6)
Rail: Slough Railway Station (approx 35 miles to London Paddington)
Air: London Heathrow Airport, London Luton Airport, London City Airport

Situation

Tenure

Freehold.

Description

The property, constructed in the early 2000’s, comprises modern open plan office accommodation benefiting from raised floors, suspended ceilings, category II lighting, air conditioning and an 8 person passenger lift servicing all floors. The property benefits from undercroft car parking in addition to parking at the front and rear providing some 36 spaces in total.

NB. This property is being marketed on behalf of Simon Thomas and Shelly Bullman of Moorfields Corporate Recovery LLP, the Joint Administrators of Argyll Ventures Limited and therefore no warranties or guarantees in any respect, including VAT can be given. The Joint Administrators are not bound to accept the highest or any offer and are acting as agents of the company only and without personal liability.

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Description

VAT

VAT is applicable to this lot.

EPC

The EPC will be available to view online in the solicitor’s legal pack.

Tenancy & Accommodation

Floor	Use	Floor Areas (Approx)		Tenant	Term	Rent p.a.x	Review
Ground Ground First Second Third	Reception Office Office Office Office	31.86 sq m 84.50 sq m 382.4 sq m 387.2 sq m 219.7 sq m	(343 sq ft) (910 sq ft) (4,117 sq ft) (4,169 sq ft) (2,365 sq ft)	MICROS-FIDELIO UK LIMITED (1)	10 years from 18/07/2011 until 17/07/2021 (2)	£190,464 (Concessionary rent of £154,752 to be paid until review)	18/07/2016
Totals		1,105.66 sq m	(11,904 sq ft)			£190,464 (3) (4)

(1) For the year ending 30th June 2011, Micros-Fidelio UK Limited reported a turnover of £36,346,000, pre-tax profits of £4,370,000 and a total net worth of £13,347,000. (Source: www.riskdisk.com 19/04/2013)
(2) There is a tenant only option to determine on 17/07/2016, on providing 6 months prior written notice.
(3) The Principal Rent stated in the lease is £190,464 p.a.x. subject to review. However, the parties have agreed a concessionary rent of £154,752 until 17th July 2016. This incudes the Supplemental Rent (See Note 4 below).
(4) The tenant also pays a Supplemental Rent to cover the costs of repairing, renewing and replacing air-conditioning, domestic water equipment, sanitaryware,
roofing and guttering. Initially this is stated to be £11,904 subject to review but is included within the concessionary rent of £154,752 until 17th July 2016.