European Innovation and Development Centre, Olympus Avenue, Leamington Spa, Warwick, CV34 6RJ, UK

Tata Technologies Leamington Spa

描述

The building is strategically situated in Leamington Spa’s premier out-of-town office district, which comprises of a mixture of office, R&D, retail, leisure and industrial buildings.

The property, known as the European Innovation and Development Centre (EIDC), serves as the European Headquarters of Tata Technologies. Constructed in 2017, the EIDC comprises a 62,497 sq ft purpose-built Grade A office arranged over ground and three upper floors. The building is configured around a central core and full-height atrium housing the reception and is set across two wings. It accommodates engineering support services, two advanced engineering labs and an R&D centre.

The property benefits from excellent natural light, generous floor to ceiling heights, and flexible floorplates catering to the modern office occupier. Externally, the building has 263 surface car parking spaces, with a generous EV charging provision and covered cycle storage.

Tata Technologies lease the entirety of the building, with an unexpired term of 6.5 years. The lease is subject to five yearly rent reviews to the higher of open market rent or the Retail Price Index, with the latter being a minimum uplift of 5.2% and a maximum uplift of 21.1% over the five year period.

Tata Technologies Europe Limited have sub-let parts of the second and third floors, totalling approximately 18,703 sq ft, to Siemens Energy Limited, until 2nd February 2032, with an undertenant break option on 3rd February 2027.

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特性

使用／出租率

100%

建築物面積 (淨面積)

62,497 平方呎

落成年份

2017

年租金總額

HK$14,486,372.81

WAULT

6.5 年

EPC工程總承包

Grade A

布雷姆

Excellent

叫價

HK$140,780,000

投資回報率

9.63%

租約類別

Freehold

媒體

投資亮點

Strategically located in Royal Leamington Spa, in the heart of England, benefitting from exceptional access to national and international markets.

Situated in Leamington Spa’s premier out-of-town office district, which comprises of a mixture of office, R&D, retail, leisure and industrial buildings.

The building is home to the European Innovation and Development Centre (EIDC), the European Headquarters for Tata Technologies serving Europe, US and Asia-Pacific markets.

Comprises 62,497 sq ft (NIA) of Grade A office accommodation, arranged over ground and three upper floors, across a large 3.7-acre site.

Fully let on an FRI lease to Tata Technologies Europe Limited with an unexpired term of 6.5 years.

Total passing rent of £1,389,170 per annum, reflecting a low rent of £22.23 psf.

The lease is subject to a rent review in March 2027 to the higher of open market rent or RPI (with a minimum uplift of 5.2% and a maximum uplift of 21.2% if reviewed to RPI), offering guaranteed performance.

The latest RPI figures demonstrate that the cap of 21.2% has already been reached, thereby providing a guaranteed uplift of 21.2% in March 2027.

Tata Technologies Europe Limited deliver engineering and digital solutions across the automotive, aerospace and industrial machinery sectors and offers a robust covenant with a 5A1 Dun & Bradstreet rating, reflecting a very low risk business profile.

263 surface car parking spaces with a significant supply of EV charging points, reflecting a generous ratio of 1:238 sq ft.

Strong sustainability credentials compliant with current and proposed MEES regulation, with an EPC A and BREEAM Excellent rating.

Opportunity to negotiate a lease re-gear with the occupier to extend the term certain, with the tenant confirming their intention to scale up its West Midlands operations.