Twickenham - ROYAL MAIL DELIVERY OFFICE SALE

[TrueBlueTerrier]

http://governmentauctionsuk.com/index.p ... =46319&op=" onclick="window.open(this.href);return false;

ROYAL MAIL DELIVERY OFFICE, TWICKENHAM


SALE AND LEASEBACK TO ROYAL MAIL GROUP LIMITED (RMG)


We have been instructed by our client to bring the marketing of the sale and leaseback of Twickenham Delivery Office to a close and request written offers to be submitted by 4pm on Thursday 10 February 2011.


Offers should include at least the following information:

1.
The identity of the bidder.


2.
The purchase price for the freehold interest, subject to a 20 year lease in favour of RMG. At first review the rent will be the higher of the open market rent and the initial rent multiplied by 1.5 percent per annum compounded for the first five years. Thereafter upwards only open market rent reviews every five years.


3.
Confirmation of the level of due diligence undertaken, including whether inspections have been undertaken and what, if any, further surveys are required.


4.
Confirmation that the information available on the website (http://www.royalmailtwickenham.com" onclick="window.open(this.href);return false;) has been fully considered by the bidder. This includes the flooring note, deed relating to the access road and summary of warranties.


5.
Confirmation that the lease terms are accepted. A copy of the lease is available on the website.


6.
How the acquisition will be financed, if third party finance is required a letter from the funder confirming the level of approval obtained and any further approvals required.


7.
Details of the level of internal approval obtained to date and the process and timing of any additional approvals that are required.


8.
Details of the bidder's solicitor.


9.
Confirmation of timescales for exchange and completion and for clearing any conditions. The lease rent will commence from completion.


10. Any other assumptions or conditions attached to the offer.


It is requested that bidders take account of the following points:

a)
The purchase will be subject to SDLT. RMG will claim relief from SDLT on the leaseback.


b)
The sale will be subject to VAT. The buyer may charge VAT on the rent if it so wishes.


c) Capital allowances – If a bidder is interested in paying an additional amount for allowances, this should be noted separately in the bid and the parties can discuss as a separate matter. Otherwise, no capital allowances will be available to the purchaser on fixtures and the purchaser will be required to sign one pound elections enabling Royal Mail to retain all capital allowances.


Offers should be submitted in writing to Shaya Seruya at King Sturge, 30 Warwick Street, London W1B 5NH or by e-mail to shaya.seruya@kingsturge.com. It should be noted that our client is not obliged to accept the highest, or any, offer received.

[maisymoo04]

WAS ONLY OPENED IN SEPTEMBER,WHATS GOIN ON

[noggin1969]

WAS ONLY OPENED IN SEPTEMBER,WHATS GOIN ON

[Wessex]

It looks like one of those sale and lease deals.Royal Mail will get capital for it and become the tenant instead of the owner.Then they can waste the money on golfing trolleys.

[Wessex]

Agree with Noggin.

[fishtank]

They are looking for in excess of £2,000,000 with a 20 year lease at £130,755 per annum.
Good old fashioned asset stripping or short-term gain for long-term pain.
Or "Asset Realisation" as the *ankers like to call it.