ADVANTAGE HOUSE 87 CASTLE STREET READING BERKSHIRE RG1 7SN REVERSIONARY TOWN CENTRE MULTI- LET OFFICE INVESTMENT
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ADVANTAGE
HOUSE
87 CASTLE STREET
READING
BERKSHIRE
RG1 7SN
REVERSIONARY TOWN CENTRE MULTI-
LET OFFICE INVESTMENT
Advantage House | 87 Castle Street | Reading | Berkshire | RG1 7SN
INVESTMENT OVERVIEW
• Reading is one of the largest commercial centres in the
South East.
• Prime town centre asset with significant asset
management and reversionary potential.
• Prominent location within close proximity to key town
centre amenities including the Oracle Shopping Centre,
John Lewis, Hexagon Theatre and Vue Cinema.
• Within a 10 minute walk from Reading Station, which
provides frequent services into London in less than
25 minutes.
• Reading will benefit from the Elizabeth Line (Crossrail),
which is expected to be completed in 2022.
• Reading is set to benefit from various town centre
regeneration projects including the mixed use
development called ‘Station Hill’.
• Multi-let office extending to 23,797 sq ft (NIA).
• The third floor of the building was comprehensively
refurbished by the landlord in 2021 at a cost of £187,437
(£37 psf).
• Excellent town centre parking ratio at 1:390 sq ft.
• The property is multi-let to five tenants providing a
passing rent of £572,890 per annum, equating to £24.07
psf, which provides a significant discount to prime rents at
£39.50 psf.
• The WAULT equates to 2.01 years to break and 3.79 years
to expire.
• Freehold
• Large 0.8 acre town centre site offering long term
redevelopment potential.
We are instructed to seek offers in excess of
£5,970,000 subject to contract and exclusive of
VAT. A purchase at this price would reflect a net
initial yield of 9.00% and a capital value of £251 psf.
3
Advantage House | 87 Castle Street | Reading | Berkshire | RG1 7SN
BICESTER
LOCATION
A418 A10
A44 LUTON
A41 A1
AYLESBURY
A40
M1
OXFORD
Reading has long been considered a dominant commercial and residential destination. It is one of the M11
A413
largest economic and commercial centres in the South East, located within Berkshire and the Thames
Valley, approximately 41 miles west of Central London and 25 miles south of Oxford. A420 M40
Reading is ranked second on PwC’s “Good Growth for Cities Index” and is widely regarded as the DIDCOT WATFORD
‘capital’ of the Thames Valley. The University of Reading is a well-established academic institution, with
an estimated student population of around 17,000. The University has risen for the third consecutive A34 SLOUGH
year to 29th in the UK in the Times Higher Education World University Rankings 2020. Many of the READING LONDON
students choose to remain in the town after graduation due to the robust employment market and
M4 HEATHROW
strong retail and leisure offerings.
NEWBURY
Reading is also home to 13 of the world’s top 30 brands, including major blue-chip companies such
as Microsoft, Oracle, Cisco, PepsiCo, Bayer, Three, Amazon and Visa. Primark has recently refurbished
its UK headquarters located in Reading town centre, demonstrating their continued commitment A33
to the area. These companies are able to capitalise off efficient transport links and access to a highly M3 A3 M25
A31
skilled workforce.
BAISINGSTOKE
GUILDFORD
Reading University is in the top 30 universities in the UK and has a student population
of around 17,000.
READING REGENERATION A22
Reading is set to benefit from a number of key regeneration schemes including:
Reading is ranked 2nd on PwC’s “Good Growth for Cities Index”.
Minster Quarter: Minster Quarter sits directly opposite the property to the north and will
comprise a distinctive and high-quality, high density, mixed use area complemented by high
quality open spaces. The area will appeal to all sectors of Reading’s population as a place
Reading is ranked the second-best city in Europe for tech start-ups in a new report to live in, work in, study in and visit. The designated regeneration area includes the Thames
from fdi Intelligence in partnership with The Next Web. Valley Police Station, Lavender Gardens (which Reading Council are currently seeking a
development partner on), Magistrate Court and Broad Street Mall.
Station Hill: Phase one of Lincoln MGT’s 6.5-acre development, directly opposite Reading
The UK 2019 Digital Technology Census found that Reading has the third largest train station, is currently being regenerated to deliver 538 residential units as well as 25,000
amount of tech businesses and organisations, being beaten only by London sq ft of commercial and leisure accommodation to further enhance the public realm and
and Manchester. create a new neighbourhood hub. The second phase includes plans for 600,000 sq ft of
prime, modern offices, flexible residential accommodation which can be adapted to deliver
a new hotel or circa 750 homes, a brand new public square and pocket park.
Reading ranks in the top three UK ‘cities’ in AI, data, cyber and financial technology, Huntley Wharf: A development by Berkeley Homes on a former retail park a short walk from
coming second to London in internet of things and cyber. Friar Street, which upon completion will provide 715 new homes.
Reading Prison site: The old prison site is outlined in Reading Borough Council’s Local Plan,
with the council giving a pre-application response stating it could be suitable for residential,
13 of the world’s top 30 brands are located in Reading including EY, Oracle, Mircosoft, hotel or student accommodation conversion.
Three, Amazon.
Station Hill Huntley Wharf
5
Advantage House | 87 Castle Street | Reading | Berkshire | RG1 7SN
Bristol London Paddington
53 minutes by train 26 minutes by train
Huntley Wharf
(Berkeley Homes)
765 home
development
Reading Railway Station
Station Hill redevelopment Verto
& Crossrail opening 2022 103 home
development
Forbury Gardens
Apex Plaza
The Oracle
Broad St Shopping
Mall Centre
Reading Police
Station- earmarked for
regeneration as part
of the Minster Quarter
Redevelopment
A329
Caversham Rd
Advantage
House
7
Advantage House | 87 Castle Street | Reading | Berkshire | RG1 7SN
CONNECTIVITY SITUATION
Reading’s central location in the Thames Advantage House is situated in Reading town centre within a 5 minute walk from the
NATIONAL RAIL TIMES main amenities including the Oracle Shopping Centre, John Lewis, Hexagon Theatre and
Valley has enabled it to grow into one of
the largest towns in the South East. This Bristol Parkway 70 mins Vue Cinema.
has been further driven by substantial
Maidenhead 15 mins The property is prominently positioned on an island site fronting both Castle Street and
infrastructure investment in major
projects such as the Elizabeth Line and Slough 20 mins the A329 and benefits from excellent visibility. The property is immediately surrounded by
the £900 million redevelopment of similar office buildings and residential accommodation, with Reading Police Station located
Reading to London Paddington 25 mins
Reading Station. opposite the property on the other side of the roundabout.
Trains run every 10 minutes at peak times
The Elizabeth Line’s planned opening Reading Station (which will also be home to Crossrail) is just a 10 minute walk north east of
in 2022 will further enhance Reading’s the property, providing direct access to Central London in just 25 minutes. The property has
connectivity and provide access directly CAR TIMES excellent road access just off the A33, serving as a pivotal route in and out of Reading and
to the West End and the City of London. making it easily accessible to the M4 by car.
M4 (Junction 11) 9 mins
Reading is also the only station in the
Thames Valley to provide rail links M25 (Junction 15) 32 mins
between the North/South and East/West. Windsor 32 mins READING
STATION
1
9
A32
The M4 motorway runs to the south of Basingstoke 33 mins 4
6 6 5
Reading providing direct access to the Newbury 31 mins 4 7
STATION RD
national motorway network, with the London Heathrow 35 mins 14 FOR
B
2 3 8 URY
RD
M25 and Heathrow Airport located 23 2
and 27 miles respectively to the east. Farnborough 40 mins 3
FRIAR ST 6
Woking 45 mins CHATHAM
ST
1 2
5
8 3 13
3 9
W
ES
1 4 10
KINGS RD
4
TS
10 5 7 9 1
T
ELIZABETH TRAIN LINE TIMES MINS
TER S
T
7 8
Heathrow airport 38 mins 11 4
D
Ealing Broadway 42 mins SR
A32
2 5 8 EEN
QU
9
1
Bond Street 53 mins 3
2
2
3 5
Tottenham Court Road 55 mins 1
Farringdon 58 mins 1
STL
E HIL
L
CA
A32
Liverpool Street 61 mins 29
A33
7
A3
3
16 Trains to Central London per hour, 4 of which
12
are high speed
9
THE ELIZABETH LINE BARS & SUPERMARKETS CAFES LEISURE AND HOTELS
RESTAURANTS
1. M&S 1. Lincoln Coffee 1. Pentahotel 12. Cove Castle
1. Pizza Express 2. Sainsburys House 2. Novotel Crescent
2. Slug & Lettuce 2. Caffe Nero 13. Reading
3. Tesco 3. IBIS
3. Wagamama Central Library
READING SLOUGH EALING BROADWAY BOND STREET FARRINGDON
4. Bill’s
3. Picnic 4. Malmaison
4. Pret A Manger 14. Reading Museum
20 mins 42 mins 53 mins 58 mins 5. Itsu 5. Mercure George
5. Starbucks 6. The Forbury
6. Milk
7. The Oakford PUBS 6. Shed 7. The Oracle
Social Club 7. W
orkhouse Coffee 8. Vue Cinema
1. The Castle Tap
8. Revolution 8. Costa 9. Buzz Gym
MAIDENHEAD HEATHROW PADDINGTON TOT TENHAM LIVERPOOL 2. BrewDog
9. Zizzi 9. Wolseley
15 mins 38 mins COURT ROAD STREET 3. The Butler 10. John Lewis
25 mins 10. S pinner Crazy Street Bakery
55 mins 61 mins Golf & Bowling 4. The Sun Inn 11. The Hexagon
9
Advantage House | 87 Castle Street | Reading | Berkshire | RG1 7SN
DESCRIPTION
Advantage House was built in the 1980’s to provide 23,797 sq ft of high-quality fully glazed office
accommodation arranged over ground to fourth floors. The building benefits from excellent natural
light with double glazed floor to ceiling height windows throughout.
The entire building was comprehensively refurbished in 2009 at a cost of circa £2.4m (£100 psf)
to provide good quality office accommodation with raised floors, suspended ceilings, fan coil air
conditioning and an impressive ground floor reception area with a business lounge. Each floor has
a W/C and a disabled W/C, with the second and fourth floors benefiting from shower facilities.
The third floor of the building was recently refurbished by the landlord at a cost of £187,437
(£37 psf) which included upgrading the four pipe fan-coil air conditioning, new raised floors and
new suspended ceilings with LED lighting.
The property has 61 car parking spaces and benefits from an excellent town centre ratio of 1:390 sq
ft, which is one of the best parking ratios in the town centre.
SPECIFICATION
Impressive reception and business lounge
Two passenger lifts
Four pipe fan-coil air conditioning
Raised access flooring
Part LG7 lighting and part LED lighting
Excellent car parking ratio of 1:390 sq ft
Male, female and disabled WC facilities
Shower facilities
Large town centre site area of 0.8 acres
11
Advantage House | 87 Castle Street | Reading | Berkshire | RG1 7SN
ACCOMMODATION SCHEDULE TENURE
Armada have undertaken an assignable measured survey of the office accommodation. We have The property is held freehold under title number: BK188362
summarised the areas below:
NIA IPMS 3 GIA
FLOOR TENANT FLOOR
FLOOR PLANS
(SQ FT) (SQ FT) (SQ FT)
Fourth Stampede Global UK Ltd 5,184 5,312 Roof 669
Part Third Vacant 1,513 1,557
Fourth 5,934
Part Third Barrett & Co Solicitors LLP 3,600 3,700
Third 5,934
Second Vacant 5,184 5,312
First Tobii Pro UK Limited 2,701 2,775 Second 5,934
First IT Talent Solutions Limited 2,468 2,537 First 5,934
Geoffrey Fairclough, Adrian
Ground 3,147 3,283 Ground 5,105
Williams & Peter
TOTAL 23,797 24,476 TOTAL 29,510
Communal
48 55
Entrance
Reception 790 840
SITE
The site has a total area of approximately 0.80 acres lending itself to longer term redevelopment.
Ground Floor NIA Plan First Floor NIA Plan
13
Advantage House | 87 Castle Street | Reading | Berkshire | RG1 7SN
TENANCY SCHEDULE
The property is multi-let to five tenants providing a topped-up rent of £572,890 per annum (£24.07 psf). The WAULT equates to 2.01 years to break and 3.79 years to expiries.
FLOOR TENANT AREA LEASE NEXT LEASE LEASE PASSING PASSING COMMENTS
(SQ FT) START REVIEW BREAK EXPIRY RENT RENT PSF
Fourth Stampede Global UK Ltd 5,184 18/03/2018 01/04/2022 31/03/2023 £123,493 £23.82 SC Cap of £51,236.
Nil rent between 13/08/2021 and 01/08/2022. £43,644
between 02/08/2022 and 31/01/2024. £87,288 between
01/02/2024 and 02/11/2026. Vendor to top up rent free.
Break notice period 9 months. In the event the break is
not exercised, the tenant will benefit from a half rent
Part Third Barrett & Co Solicitors LLP 3,600 13/08/2021 02/11/2026 02/11/2027 12/08/2031 £87,288 £24.25
period from 02/11/2027 - 01/05/2028. Rent was agreed at
£26.82 psf but has been revised down to £24.25 following
the recent measured survey.
The tenant has spent £144,310 on fit out works.
SC Cap of £36,380.
18 months rent, rates and service charge guarantee.
Recently refurbished accommodation. Barrett & Co
Part Third Vacant Guarantee 1,513 £37,069 £24.50
Solicitors LLP benefit from a right of first refusal on a new
lease on vacant third floor space.
Second Vacant Guarantee 5,184 £124,416 £24.00 18 months rent, rates and service charge guarantee.
22/02/2023 Tenant has not served Feb 2022 notice to break.
IT Talent Solutions Rolling annual TBO on 22nd February each year of the term.
Part First 2,468 22/02/2017 22/02/2022 (rolling annual tenant 21/02/2027 £61,088 £24.75
Limited 9 months’ notice required.
break option)
September 2023 break requires 9 months’ notice. Tenant
receives 12 months half rent if break is not exercised.
Part First Tobii Pro UK Limited 2.701 03/09/2018 03/09/2023 03/09/2023 02/09/2028 £64,416 £23.85
The vendor has proposed to remove the tenant break in
exchange for 12 months rent free.
Geoffrey Fairclough,
Ground Adrian Williams & Peter 3,147 17/10/2014 16/10/2024 £75,120 £23.87 SC Cap of £27,170.
(Haines Watts)
TOTAL 23,797 £572,890 £24.07
15
Advantage House | 87 Castle Street | Reading | Berkshire | RG1 7SN
COVENANTS
STAMPEDE GLOBAL UK LTD | COMPANY NUMBER: 05341872 TOBII PRO UK LIMITED | COMPANY NUMBER: 06529514
21% of contracted income / Experion Credit Rating: Below Average Risk 11% of contracted income / Experion Credit Rating: Very Low Risk
Stampede Global are the largest providers of Pro AV distribution solutions. The business has been Founded in 2008, Tobii Pro UK Limited help businesses, researchers and professionals gain
established for over 16 years. quality insight into human behaviour with world-leading eye tracking hardware, analysis
software and research consultancy services. Their products are used by all of the worlds top
50 universities, 4 of the top 5 global market research organisations and 18 of the top 20 global
MARCH 2020 MARCH 2019 MARCH 2017
advertising spenders.
Sales Turnover £ 10,418,896 25,734,666 1,161,275
DECEMBER 2019 DECEMBER 2018 DECEMBER 2017
Profit (Loss) Before Taxes £ -848,270 -1,116,095 2,662,883
Sales Turnover £ 3,561,721 2,098,461 n/a
Total Assets £ 5,134,231 4,273,093 9,089,186
Profit (Loss) Before Taxes £ 55,440 53,434 n/a
Total Liabilities £ 2,976,902 1,724,254 5,415,988
Total Assets £ 108,062 121,041 4,740
Total Liabilities £ 446,018 590,151 291,773
BARRETT & CO SOLICITORS LLP | COMPANY NUMBER: OC356263
15% of contracted income / Experion Credit Rating: Very Low Risk
Barrett and Co have provided specialised personalised legal services to a wide range of individuals HAINES WATTS LIVERPOOL LTD | COMPANY NUMBER: 07169050
and small-to-medium businesses for over 30 years. They originated in Reading and continue to cover 13% of contracted income / Experion Credit Rating: Very Low Risk
the surrounding area of Berkshire.
Founded in 1930, Haines Watts are a top 15 firm of chartered accountants who offer
specialised advice on tax matters, accountancy service and general business. They work
APRIL 2020 APRIL 2019 APRIL 2017
nationally with over 35,000 business owners.
Sales Turnover £ n/a n/a n/a
MARCH 2020 MARCH 2019 MARCH 2017
Profit (Loss) Before Taxes £ n/a n/a n/a
Sales Turnover £ n/a n/a n/a
Total Assets £ 650,920 728,854 629,045
Profit (Loss) Before Taxes £ n/a n/a n/a
Total Liabilities £ 291,018 450,015 263,015
Total Assets £ 2,580,534 2,622,008 2,477,607
Total Liabilities £ 1,853,787 1,895,261 1,548,375
IT TALENT SOLUTIONS LIMITED | COMPANY NUMBER: 05056404
10% of contracted income / Experion Credit Rating: Below Average Risk
Founded in 2008, IT Talent Solutions recruit permanent and temporary jobs in IT and
Technology. Their client base consists of all sizes of company, from SMEs to major
international corporations such as NHS, Ebay, Sony, Paypal and Virgin.
APRIL 2020 APRIL 2019 APRIL 2017
Sales Turnover £ n/a n/a n/a
Profit (Loss) Before Taxes £ n/a n/a n/a
Total Assets £ 888,276 1,007,531 1,091,713
Total Liabilities £ 775,089 905,050 1,013,342
17
Advantage House | 87 Castle Street | Reading | Berkshire | RG1 7SN
PLANNING & DEVELOPMENT POTENTIAL OCCUPATIONAL MARKET COMMENTARY
The Reading Local Plan was adopted in 2019. Advantage House is located within the “Regional Reading is the largest commercial market in the Thames Valley and has demonstrated strong
Centre” boundary under Policy RL1. Policy RL1 states that Central Reading will see the greatest take up levels and consistent headline rental growth over previous years.
levels of development, investment and change.
Despite the pandemic, Reading has attracted new major occupiers over the last 18 months,
Major commercial office development is directed to the area closest to the station (5.2.8). Other demonstrated by new headline lettings to Amazon, CGI, Evertz, Hewlett Packard Enterprises,
uses including residential are supported at appropriate densities within the town centre, where Global Radio and Pexip.
Advantage House sits.
Take-up in Reading town centre has averaged c.260,000 sq ft over the last 3 years with take-
Advantage House is close to a number of large recent and current developments including up reaching over 320,000 sq ft in 2020 despite the impacts of Covid-19.
Chatham Place and Weldale Street, and is opposite the Hosier Street development site which
will include 500-750 dwellings, retail and leisure, and the recently approved additional 500 Three mobile’s recent pre-let of 450 Longwater Avenue in Q1 2021 at £39.50 psf reflects a
apartments to be built across two parts above Broad Street Mall, acquired by AEW. record prime rent for Reading. The letting also illustrates Reading’s dominance and ability to
attract major corporates as Three are relocating from Maidenhead.
Advantage House is considered to afford clear potential for future redevelopment that could
include increases in both height and site coverage/density in particular for a residential-led Reading prime rents remain at a significant discount to South East markets such as Windsor
development. (£43.50 psf), Brighton (£45.00 psf), Oxford (£46.75 psf), Cambridge (£48.50 psf), Richmond
(£59.00 psf) and Hammersmith (£58.00 psf).
Notable recent Reading occupational comparables are set out below:
DATE PROPERTY AREA TENANT RENT TERMS
(SQ.FT) (PSF) (YRS)
September 1 Station Hill, 5,975 Market Cast £35.92 5
2021 Reading
September Apex, Forbury Road, 1,184 Interpath Limited £39.00 5 (3)
2021 Reading
September Building 1430, Arlington 5,652 Synopsys £32.00 4
2021 Business Park, Reading
August Advantage, 3,638 Barratt and Co £24.00 10 (5)
2021 87 Castle Street, Reading Solicitors
April Apex, Forbury Road, 5,479 Global Radio £35.00 5
2021 Reading Limited
March Building 2, 116,994 Three £39.50 15
2021 450 Longwater Avenue,
Reading
March One Forbury Square, 2,684 EJ Winter £37.00 10 (6)
2021 The Forbury, Reading
March Apex, Forbury Road, 6,331 Blake Morgan £35.00 10 (7)
2021 Reading
February 3 Forbury Place, 6,007 Coupla Ltd £33.50 10 (2)
2021 Forbury Road, RG1 3JH
December R+ Reading 10,295 Cellnex UK Ltd £37.47 7 (3&5)
2020 Sub-lease
October Early East, 15,000 Pexip £33.00 10
2020 Reading
October Thames Tower, 5,000 ISIO £36.25 10 (5)
2020 Station Road, Reading
19Advantage House | 87 Castle Street | Reading | Berkshire | RG1 7SN
INVESTMENT MARKET COMMENTARY
The total transaction volume of South East offices for 2021 was £4.36bn, which is significantly higher The table below highlights the most relevant investment transactions in the South East market:
than the 5-year average of £3.56bn and reflects a 75% increase on the £2.49bn transacted in 2020.
The bounce back in 2021 was driven largely by the rapid rollout of the COVID-19 vaccine spurring
occupier confidence and improving market sentiment. Despite the new Omicron variant, Q4 2021 CAP
AREA
DATE ADDRESS PRICE VAL NIY WAULT BUYER
was the largest transactional quarter of the year with approximately £1.47bn transacted, reflecting (SQ.FT) (£PSF)
an 86% increase on Q3 2021, and a 100% increase on Q4 2020.
6 Bell Street,
U/O 10,821 £4,500,000 £416 6.94% 1.2 -
Reading remains an institutionally sought-after market given the size of the market and the high Maidenhead
concentration of blue-chip corporate headquarters. Reading has seen sustained rental growth
22 Market
over the last 10 years which continues to drive investor returns given the tight supply pipeline and January Palace
Street, 22,586 £10,250,000 £458 6.80% 5
infrastructure investment into the town. 2022 Capital
Maidenhead
December Goldvale House, Martins
20,556 £5,750,000 £280 8.50% 4.0
2021 Woking Properties
The Capitol
July Kennedy
Building, 184,000 £44,500,000 £242 7.50% 3.3
2021 Wilson
Bracknell
The Brickworks, CBRE
July
Greyfriar Road, 18,908 £10,005,000 £529 4.25% 10 Global
2021
Reading Investors
Pearce
May
Building, 52,148 £26,100,000 £501 6.86% 3.1 M&G
2021
Maidenhead
Shakespeare
April Brydell
House, 15,850 £6,550,000 £413 6.46% 5
2021 Partners
Cambridge
February
R+, Reading 101,512 £40,000,000 £394 7.96% 7.8 Oval
2021
The Anchorage,
February
34 Bridge Street, 29,222 £9,770,000 £334 6.83% 5.2 Corum XL
2021
Reading
Eldon Court,
September
75 London Road, 25,300 £9,900,000 £391 6.34% 5.5 S2 Estates
2020
Reading
21Advantage House | 87 Castle Street | Reading | Berkshire | RG1 7SN
VAT
The property is elected for VAT and it is anticipated that the sale will be structured as a TOGC.
EPC
An EPC is available upon request.
FINANCING TERMS
Gerald Eve’s Corporate Finance team have reviewed this opportunity and are happy to discuss
financing requirements with interested parties. If you would like to confidentially speak to our
specialist debt team please contact:
David Shaw
M: 07395 855521
dshaw@geraldeve.com
PROPOSAL
We are instructed to seek offers in excess of £5,970,000 subject to contract and
exclusive of VAT. A purchase at this price would reflect a net initial yield of 9.00% and
a capital value of £251 psf.
CONTACTS
For further information or arrange an inspection please contact the following:
Jason Nearchou Josh Shaffer
M: +44 770 439 7381 M: +44 7901 517 139
jnearchou@geraldeve.com jshaffer@geraldeve.com
James Brown Chloe Sweetland
M: +44 7464 656 563 M: +44 7385 933686
jbrown@geraldeve.com csweetland@geraldeve.com
23Disclaimer: Conditions under which these particulars are issued All details in these particulars are given in good faith, but Gerald Eve LLP for themselves and the Vendors/Lessors of this property for whom they act give notice that: 1. These particulars do not and shall not constitute, in whole or in part, an offer or a contract or part thereof, and Gerald Eve LLP and have no authority to make or enter into any such offer or contract. 2. All statements contained in these particulars are made without acceptance any liability in negligence or otherwise by Gerald Eve LLP, for themselves or for the Vendors/Lessors. 3. None of the statements contained in these particulars is to be relied on as a statement or representation of fact or warranty on any matter whatsoever, and intending purchasers must satisfy themselves by whatever means as to the correctness of any statements made within these particulars. 4. The Vendors/Lessors do not make, give or imply, nor do Gerald Eve LLP or any person in their employment have any authority to make, give or imply, whether in these particulars or otherwise, any representation or warranty whatsoever in relation to the property. The statement does not affect any potential liability under the Property Misdescription Act 1991. Gerald Eve LLP is a limited liability partnership registered in England and Wales with registered number OC339470 and its registered office at 72 Welbeck Street, London, W1G 0AY.
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