Beruflich Dokumente
Kultur Dokumente
A 25 YEAR,
UNBROKEN
INDEXED LEASE
to one of
the worlds
largest
consumer
co-operatives
www.Oneangelsquare.co.uk One Angel Square Manchester
2 3
Investment Summary
One Angel Square forms the first phase of NOMA, which comprises
4,000,000 sq ft (371,600 sq m) of mixed-use accommodation
Freehold
4 5
EXECUTIVE Summary
Location Tenure Capital Allowances
One Angel Square is a landmark Freehold. It is the Vendors intention to
head office for The Co-operative retain all plant and machinery
Tenancy
Group. Located within Manchester Capital Allowances.
city centre, it forms part of NOMA, The property is to be let in its
VAT
the leading next generation entirety to The Co-operative Group
mixed-use development scheme Holdings (2011) Limited, guaranteed The property is elected for VAT
in the United Kingdom. by The Co-operative Group Limited, purposes and therefore VAT will
on full repairing and insuring be payable on the transaction.
Description
terms for a term of 25 years from
Investment Proposal
Designed by 3DReid Architects, September 2012 (Lease expiry 2037).
One Angel Square is an iconic The tenant will have the right to Offers are invited for the freehold
new office building, completing extend the lease. interest in One Angel Square, subject
in September 2012. to contract and exclusive of VAT.
Initial Income
The property comprises a total
The initial rent of 9,000,000
of 327,643 sq ft (30,439 sq m) of
per annum, equates to an average
high quality office accommodation
overall rent of 26.15 per sq ft
arranged over basement, lower
(281.45 per sq m) and 3,000
ground, ground and 14 upper floors.
per car space.
There are 146 secure car parking
Rent Review
spaces located at basement level,
in addition to 105 bicycle racks The lease provides for 5 yearly
and 23 motorcycle spaces. upward only rent reviews based
on the increase in Consumer Price
Sustainability
Index (CPI), which is subject to
One Angel Square is one of the a minimum increase of 1.5% per
most sustainable buildings in annum and a maximum increase
Europe. The building will comprise of 4% per annum, compounded
the first BREEAM Outstanding over each 5 year review period.
regional office building in the
UK and will be EPC A Rated.
6 7
Contents
Manchester 8
Location/Communications 12
Situation 16
Noma 20
Description 26
Professional Team/warranties 29
Specification 30
Sustainability 32
Accommodation 34
Floor plAns 36
Tenure 38
Tenancy 40
PLANNING AND TAX 41
Covenant 42
Appendices 47
Investment Proposal 54
Contact Information 56
www.Oneangelsquare.co.uk One Angel Square Manchester
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10 11
MANCHESTER LIFESTYLE
The thing about
Cultural And
Creative Centre
Retail and
Leisure Market
Manchester is
it all comes
Manchester has always been known Manchester currently sits in fourth With NOMA delivering 500,000 sq ft
for the vitality of its cultural life, place in the CACI retail rankings, (46,450 sq m) of retail, leisure
from Barbirolli to Morrissey, from providing approximately and hotel accommodation to the
Lowry to Madchester, and the 3,250,000 sq ft (301,925 sq m) Manchester market, the citys
capital of the north continues that of retail accommodation. offering continues to strengthen.
from here
tradition in new and established
NOMA is situated adjacent to International Sporting
venues across the city.
the Manchester Arndale Centre. Destinations
The Manchester Arena is Europes With 1.4 million sq ft (130,060 sq m)
Manchester is recognised the world
busiest indoor concert arena. of retail floor area and 38 million
over for its sporting achievements
The Hall orchestra thrives in its visitors annually, the Manchester
home to Manchester United,
architecturally stunning new home, Arndale Centre is the UKs largest
Manchester City, Bolton Wanderers Noel Gallagher
the Bridgewater Hall, and the inner city shopping centre and the
and Wigan Athletic football
Manchester Camerata plays at the most visited in the north-west.
clubs and in 2002 host of the
Royal College of Music.
The city centre has a substantial Commonwealth Games.
Manchesters thirteen theatres leisure provision ranging from
The regions sporting star is in the
create the UKs best theatre mass market bars and restaurants
ascendant: recent major sporting
repertory scene outside Londons within The Printworks, through
events include the Paralympics
West End and host top touring to destination locations including
World Cup, the UEFA Cup Final,
companies at the Royal Exchange Spinningfields, Deansgate, King
the FINA World Swimming
Theatre, Manchester Opera House Street and The Northern Quarter.
Championships and UCI Track
and Palace Theatre.
Cycling World Championship as well
as the BUPA Great Manchester Run.
38 million
Visitors to the Manchester Arndale Centre per annum the UKs
Thirteen
Theatres
largest inner city retail centre
www.Oneangelsquare.co.uk One Angel Square Manchester
12 13
Location/COMMUNICATIONS
Glasgow
215 miles (344 km)
Sheffield
Manchester road network Bury
M62 Train times from Manchester International flight times Manchester 39 miles (62 km)
multi-modal
Preston 83 miles (133 km)
and M6
Dubai 7hrs 50mins
J15 Bristol 2hrs 59mins
Dublin 1hr
Leeds 54mins
integrated
Frankfurt 1hr 40mins
Salford Manchester Liverpool 47mins
J12 M602
Sheffield 48mins
Geneva 1hr 50mins Bristol London
transport
Sheffield Milan 2hrs 20mins 165 miles (264 km) 196 miles (314 km)
M62 J24 Source: National Rail.co.uk
M67 Munich 2hrs
infrastructure
Liverpool
M60 M60
New York 8hrs
Warrington
Altrincham
Chester
Birmingham
M56 J5 Manchester
Airport
www.Oneangelsquare.co.uk One Angel Square manchester
Beetham
TOWER
international
PICCADILLY conference
STATION centre
14 15
Shudehill
Transport
interchange
MANCHESTER
VICTORIA Manchester
STATION Arena
One Angel
Square forms
part of NOMA,
the leading
next generation
mixed-use
development
scheme in ANGEL
MEADOWS
the UK METROLINK
www.Oneangelsquare.co.uk Manchester Angel Meadows One Angel Square manchester
Arena Residential Quarter
Manchester Victoria
Station
Medieval
Quarter
16 17
Printworks
Central Cathedral
Salford SITuation
Town
Hall China
Manchester Town
Art Gallery
Left Bank
Great
Midland
Hotel
The Piccadilly
Northern Village Station Eastern Gateway
Manchester
Central
Southern
Gateway
Angel Meadows
18 19
Chethams
School of Music
City
Medieval Quarter Buildings
Hotel Angel Square CGI
National
Football Crowne Plaza
Hotel &
Museum
Shudehill Holiday Inn Express
350,000
Visitors
Transport 420 Beds
Printworks Interchange
9.4 million Visitors
Cathedral
Triangle Northern
Quarter
The Next
Shambles
Selfridges
M&S
Retail Core
www.Oneangelsquare.co.uk One Angel Square manchester
20 21
NOMA
Designed by 3DReid, One Angel Square forms the centrepiece
of this 800 million development scheme that will deliver:
Centre district
will also accommodate prospective occupiers and those starting out in life.
changing requirements.
300,000 sq ft 200,000 sq ft
Retail and Leisure Hotel
This vision has been facilitated through the combination of The Co-operatives
unique land ownership and the application of The Co-operatives founding NOMA will incorporate the city centres largest
open green park, Angel Meadows, with a quarter
A new cylindrical 14-storey, 176 bed hotel on
the site of the former post office will provide
principles of progressive forward-thinking and social responsibility. of the entire site accessible to public. Progressive additional amenity for NOMA visitors with
architecture with historic buildings will create more hotel space to come.
a hugely enjoyable shopping experience.
www.Oneangelsquare.co.uk One Angel Square manchester
22 23
integrated DEVELOPMENT
4* hotel and restaurant with within NOMA and provide a Street around One Angel Square.
construction starting in September platform for further development The new road network will
2012 alongside the submission of within the next 1-3 years. Further include the narrowing of Miller
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www.Oneangelsquare.co.uk One Angel Square manchester
24 25
NOMA at the
Northern Hub Manchester The Ordsall Chord Metrolink Second City
Victoria Station Crossing (2CC)
centre of a major
Network Rail and regional The 26 million project to The initial funding of 85 million In addition to new lines recently
partners are committed to the transform Manchester Victoria has been agreed to directly opened to MediaCityUK and
Northern Hub scheme that will station into a major regional connect Manchester Victoria and Chorlton, there are proposals
create a projected 4.2 billion of interchange. Funding has been Manchester Piccadilly Railway for a further extension from
transformation
benefits and create an additional secured to substantially redesign Stations for the very first time to the Deansgate-Castlefield
23,000 jobs. The electrification of and rebuild the roof, improve allow faster and more frequent stop through to the existing
the route between Manchester the connectivity to the Manchester services in the North. This would MetroLink line at Manchester
of Manchesters
Victoria and Liverpool Lime Street Arena, redesign platform see most fast trans-Pennine Victoria station. This will triple
is a key part of this project and is arrangements to accommodate services going via Manchester the existing capacity by 2016,
in development at an estimated increased capacity and provide Victoria as soon as 2016. making Metrolink the largest
connectivity
cost of 124 million. an improved retail and leisure tram system in the UK. The city
offer. Contractors are now centre will be connected to
on-site and the station should Manchester Airport with services
be completed by 2014. every 12 minutes.
Already located at the centre of excellent transport connections, NOMA is set to benefit
from wider plans. Infrastructure investment could total in excess of 700 million.
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www.Oneangelsquare.co.uk One Angel Square manchester
26 27
Description
28 29
2011 2012
North West Insider Awards Property Week Awards
2011 2012
Builder and Engineer Awards Green Apple Award
30 31
Specification
32 33
Sustainability
34 35
Accommodation Computer Generated Image of the eighth and ninth floor terraces Computer Generated Image of Angel Square
36 37
Floor plans
Atrium
Loading
Bay
Ter r
Reception
a ces
GROUND FLOOR Indicative Terrace FLOORS
36,178 sq ft The 8th, 9th, 10th, 11th, 12th, 13th and
3,361 sq m 14th floors benefit from terraces
Not to scale: For indicative purpose only
www.Oneangelsquare.co.uk One Angel Square manchester
38 39
Tenure
Freehold.
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The OS plan is not to scale and shows the approximate position of the freehold boundaries
edged red. The attached is for identification purposes only and the accuracy of the plan
cannot be guaranteed and does not form part of any contract.
www.Oneangelsquare.co.uk One Angel Square manchester
40 41
Group Holdings (2011) Limited (IP Society number IP28501R) It is the Vendors intention to retain all
plant and machinery Capital Allowances.
on full repairing and insuring terms for a term of 25 years VAT
from September 2012 (Lease expiry 2037). The property is elected for VAT purposes
and therefore VAT will be payable on
The Co-operative Group Limited (IP Society number IP00525R) the transaction.
will guarantee the lease obligations for the duration of the lease. Planning
The local planning authority is Manchester
City Council.
20,000,000
Minimum Rent
15,000,000
Maximum Rent
10,000,000
5,000,000
0
1-5 6-10 11-15 16-20 21-25 Computer Generated Image of the Atrium
www.Oneangelsquare.co.uk One Angel Square Manchester
42 43
102,000 21 million
AND ETHICAL Employees Customers served every week across the businesses
44 45
Financials
The tenant, The Co-operative Group Holdings (2011) Limited
(IP Society number IP28501R), is a holding company and
shareholder for the major trading companies within the
Cooperative movement including food, funerals and pharmacy.
The directly held subsidiaries to The Co-operative Group
Holdings (2011) Limited are substantial operating businesses
that contribute over 80% of the Group revenues.
The Co-operative Group is being structured as the diagram
below illustrates.
100% 100%
Standard & Poor provides a credit rating for this covenant of BBB-
www.Oneangelsquare.co.uk One Angel Square manchester
46 47
APPENDICES
APPENDIX 1
SUMMARY OF OCCUPATIONAL LEASE TERMS 48
APPENDIX 2
SUMMARY SPECIFICATION 50
APPENDIX 3
MARKET COMMENTARY 52
www.Oneangelsquare.co.uk One Angel Square manchester
48 49
APPENDIX 1
SUMMARY OF OCCUPATIONAL LEASE TERMS
Use
The use is as high class, professional and commercial
and/or government offices, conferencing facilities,
and ancillary uses and car parking, and any other
use subject to landlords consent not to be
unreasonably withheld.
www.Oneangelsquare.co.uk One Angel Square manchester
50 51
APPENDIX 2
SUMMARY SPECIFICATION
Substructure Ceilings Fully serviced ceiling raft incorporating Air Cooling/Heating Car Parking
chilled beams, lighting, sprinklers and PIR sensors
Substructure is a concrete frame. Air cooling is provided via chilled beams utilising 146 spaces which includes 8 accessible
within each of the coffers. Chilled beams are factory
concrete reducing cooling load for reduced energy and 23 motorbike spaces.
sprayed white metal panels system.
consumption. Heating is provided via incoming air
Superstructure
through the raised access floor and supplemented Minimum 2.3m x 4.8m parking bays
External Terrace Perimeter walls to the terrace
Superstructure consists of a steel and concrete frame with perimeter heating.
consist of double skin glazed faade, atrium roof and
supporting concrete topping floor slabs. Internally, Minimum 6m width search lines
glazed stainless steel balustrade. Composite concrete
the office space is column free. pavers form the finished external surface with pebble Fresh Air
Maximum 1 in 6 ramps
borders between double skin faade, office glazing 12 L/S based on 1 person per 8m or 10m
External Finishes and terrace material.
5 contractor spaces
External Walls Ground & 1st Floor external double Humidity Control
height glazed curtain walling, with spandrel panels Raised bed planters allow for soft landscaping on
Levels 8, 10-14. Maximum 60% RH Cycle Provision
to the rear of the external precast columns.
105 cycle storage stands
Dead Loads Temperature
Levels 02-07 External walls comprise of full height
unitised double skin faade with extended fins to 0.5 kN/m raised floors 24 degrees C +/- 2 degree C with chilled beams
provide solar shading. Within the double skin faade (21 degrees C in winter)
the walkway provides a maintenance route as well Imposed Loads
as acting as a brise soleil. Lighting Design
Office Areas 4 kN/m inclusive 1 kN/m
for partitions Lighting Level 300-500 lux
Levels 08-14 External walls comprise full height
unitised double skin faade and full height curtain
High Load Zones 7.5 kN/m + 0.5 kN/m Fire Alarms
walling to the terraces.
Up to 10 kN/m in plant areas L1 system with voice chip sounders
Level 15 (Plant Room) External walls comprise
full height utilised double skin faade and a Column Spacing Sprinkler System
louvered plant room.
Minimum 7.5m column free floorplate Full sprinkler coverage in compliance
(max 16m span) with Approved Document part B
Finishes
Basement Floor Sealed concrete slab with Slab to Slab Height Emergency Power
painted blockwork walls, exposed ceiling soffit.
Basement 3.0m Uninterrupted power source (UPS) plus
Lower Ground Floor 5.0m standby generators
Lower Ground Floor Sealed concrete slab to
Ground 8.0m (part fit out for level 1)
loading bay, plant rooms, circulation areas, cores,
Level 2 14 offices 4.0m Means of Escape
security office, Business Centre, reception to be
vinyl linoleum floor finish. Density one person per 6m, for Fire Escapes/Lifts
Floor to Ceiling Height
Ground Floor/Reception Area Porcelain tile Typical Office Floor 2.8m Toilet Provision
floors with walls clad in timber panelling and
Raised Floor Based on occupancy of average one person to 8m
painted plaster.
400mm (350mm clear void) Noise from Service
Upper Floors Typical Office Layout Raised access
floors with carpet tile finish (heavy duty grade Open plan offices NR38
Planning Grid
floor antistatic for IT hub rooms). Cellular offices NR35
1.5m x 3m Meeting/Board Rooms NR30
Server Rooms Heavy Grade antistatic raised floor (Chilled Beams dictate 3m centres) Circulation/Cores NR40
(500mm) (450mm clear service zones). Auditorium
carpet tiles. Mock store terrazzo floor tile. Walls Occupancy Lifts
finished in oak veneer acoustic timber panelling.
Generally based on 1 person per 8m, 10 No.17 person passenger lifts
Gym specialised rubberised floor finish.
and is capable of upgrading to 1 person 3 No.21 person service lifts (1 in each core)
per 6m in certain areas. Destination Control System
www.Oneangelsquare.co.uk One Angel Square manchester
52 53
APPENDIX 3
Market Commentary
1,000,000
800,000
sq ft
1,400,000
600,000
Big 6 average Manchester city centre
1,200,000
400,000
1,000,000
200,000
800,000
sq ft 0
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Q1/2012
600,000
400,000
200,000
www.Oneangelsquare.co.uk One Angel Square Manchester
54 55
Investment Proposal
56
CONTACT
Mark Williams Andrew Hawkins Jonathan Mills
mwilliams@whrproperty.co.uk andrew.hawkins@eu.jll.com jonathan.mills@eu.jll.com
DL: +44 (0)161 819 8220 DL: +44 (0)20 7399 5840 DL: +44 (0)161 828 6460
Dataroom: www.oneangelsquare.co.uk/c/download.php
Specification
Fact Sheet
Occupational Lease
Floor Plans
Investment Brochure
Misrepresentation Act: Jones Lang LaSalle and WHR for themselves and for the vendor as agents for the vendor give notice that:
1. The information in these particulars is intended as a general outline only for the guidance of intending purchasers and neither Jones
Lang LaSalle and WHR nor the vendor on whose behalf these particulars are provided accept any responsibility for any inaccuracies the
particulars may contain. Any intending purchaser should not rely upon them as statements or representations of fact but should satisfy
themselves by inspection or otherwise as to their correctness. All floor areas and other measurements are approximate. 2. These particulars
do not form, or form any part of, any offer or contract. 3. Neither Jones Lang LaSalle, WHR, nor any of their employees has any authority,
either orally or in writing, to make or give any representations or warranties in relation to the property. 4. Unless otherwise stated,
all prices and rents are quoted exclusive of VAT. July 2012.
The Code of Practice on Commercial Leases in England and Wales recommends you seek professional advice before agreeing a business tenancy.
The Code is available through the website: www.commercialleasecodeew.co.uk
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