Office for sale in Siskin Drive, Coventry CV3

Location

Coventry is located on the east side of the West Midlands conurbation, on the edge of rural Warwickshire. Birmingham is 25 miles to the west, Leamington Spa and Warwick 12 miles south and London 95 miles south.

Coventry mainline station train journey times to London are just over the hour. Birmingham Airport and nec are 25 minutes' drive distance.

Middlemarch Business Park is a 110-acre mixed use development of office, warehouse and industrial units set in a landscaped environment, 3 miles south-east of the City Centre. It is situated adjacent to Coventry Airport, with access from Tollbar Island and Siskin Drive. The A45 and A46 trunk roads at Tollbar provide dual carriageway connections to M69/M6, M40 and M40 Motorways.
Occupiers on the Business Park include Volvo Truck & Bus, Parcelforce, Unipart Logistics, Stadco Group, dmg Mori, Faurecia, World Books, Gist Logistics, Magna International, Macfarlane Packaging, Innovare, Arden University and bttj Solicitors.

Coventry Airport was recently granted outline consent for development of the West Midlands Giga Factory. Next to the Airport, infrastructure for Segro's Coventry & Warwickshire Gateway is nearing completion. The gateway has 210 acres of strategic land to be developed for industrial and warehouse uses and a new road bridge across the A45 links it with the UK Battery Industrialisation Centre (ukbic) and Jaguar Land Rover.

Access to 2020 House is from a left turn off Siskin Drive, in front of the Middlemarch Estate Directory Board.

Description

A two-storey steel frame office building constructed in 1998 with feature glazed façade. Elevations are built with sandstone brick columns and insulated steel cladding panels between powder coated ground and first floor double glazed windows. The building has a shallow pitch roof, incorporating canopy over the entrance atrium, covered in double skin, insulated profile metal cladding.

Floors and staircases are solid prefabricated concrete, with raised office decks and carpet tile coverings. The accommodation has suspended ceiling grids with LED panels and air conditioning cassettes integral to the ceilings and fixed to some office walls. Ground and first floors have separate electrical circuits with a submeter on the ground floor supply, offering letting flexibility.

Accommodation

Ground floor:
Reception 30.81 sq.M 330 sq.ft
Staff Break-Out (left) 77.56 sq.M 835 sq.ft
Offices (right) 82.28 sq.M 885 sq.ft
Office/Training/Meeting Rooms 244.57 sq.M 2630 sq.ft
Ladies, gent's & disabled toilets

first floor:
General Office 440.95 sq.M 4745 sq.ft
Ladies and gents toilets &
showers

net internal area 876.17 sq.M 9425 sq.ft

Services

All mains services are connected to the property. Heating and cooling to the offices is from Mitsubishi air conditioning cassettes and a gas fired boiler heats radiators and water in the toilet facilities. Eight Person 630 Kg Passenger Lift.

Tenure

Leasehold 999 years from 26 February 1993 at an annual rent of one peppercorn.

Tenancy

Phocas Limited (UK Co. No. 04212258) will enter into a 10 year full repairing and insuring lease, simultaneous with completion of the property sale. The Lease will include a Tenant break option on the seventh anniversary of the Term.
Phocas Group Pty Limited (Australian Business Number 22 ) will Guarantee performance of the Tenant covenants under the Lease.

Rent

The rent to be reserved is £142,000 per annum, subject to Open Market Rent Review after 5 years.

Covenant

Phocas was founded in 2001 and is now a global operation with 7 offices across 3 continents with 299 employees. The Company has created and continues to develop a world leading software intelligence platform for business planning and data analytics.

Significant investment was made into the company in 2021 which has resulted in strong revenue growth across the group.

Click link for Company Overview.

Phocas Limited is a wholly owned subsidiary of Phocas Group Pty Limited, 35 Lime Street, King Street Wharf, Sydney, nsw, Australia.

Phocas Ltd and Phocas UK Ltd are the two business entities that operate from 2020 House. They reported revenues for the financial year ended 30th June 2022 of £6,104,362 and £9,147,602 respectively.

Phocas Group reported revenues of Aus $53,574,104 for the year ended June 2022 and forecast revenue growth for the year ending June 2023 of 26% to Aus $67,615,000.