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TANWORTH LANE, SHIRLEY, SOLIHULL, B90 4DD
Care Home Development AGREEMENT FOR LEASE OPPORTUNITY
ITT Deadline: Midday 8th October 2018
Asking Rent – £360,000 per annum
Purpose Built 60 Bed Care Home Property Highlights
Property Specifications
• Opportunity to agree a new lease for a 60 bed two-storey care home
• The home will occupy a site area of approx. 1.42 acres, including 40 car parking spaces and landscaped sensory gardens.
• The property is being constructed on land in south west Solihull, where the local demographic is predominantly elderly and affluent • Construction now in progress and expected to complete in August 2019
• Generously proportioned high specification bedrooms of c. 16.6 sqm, in addition to 4.3 sqm corner cut wet room en-suites.
• The landlord is seeking a 30-year effective FRI lease with annual RPI rent reviews (capped and collared), other lease terms to be agreed
• Day space allowance of approximately 6.1 sqm per resident.
• Asking rent of £360,000 p.a. exclusive of service charge, business rates and all other outgoings. This reflects a rent of £6,000 per bedroom.
• Ancillary facilities will be spread around the building with the key areas (commercial kitchen and laundry) on the ground floor.
• Target EPC rating: A – Highly energy efficient sustainable design including photovoltaic panels, ground source heat pump and super-insulated building envelope
• Fully accessible dementia-friendly design prepared in accordance with Stirling University best practice guidance for the provision of care to older people and older people with dementia.
• The first floor lounge diner will open onto a large roof terrace
TANWORTH LANE, SHIRLEY, SOLIHULL, B90 4DD
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Care Home Development AGREEMENT FOR LEASE OPPORTUNITY Block Contract The letting of the care home will be subject to the tenant entering into a Block Contract with Solihull Council, which requires the tenant to provide a minimum of 50% of the rooms for affordable nursing care for older people and older people with dementia. • 30 bedrooms (50% of total provision) – 15 standard nursing, 15 nursing with dementia • 10 year initial term • Landlord’s option to renew for additional periods of 5 years at a time • Fee rate commencing at £724.67 / week (inclusive of FNC).
Tender Process The Landlord is seeking tender submissions through an Official Journal of the European Union (OJEU) compliant procurement process. Offers are to be submitted through Solihull Council’s CSW-JETS E-Tendering portal (www.csw-jets.co.uk) and should include: completed Invitation to Tender (ITT) including Supplier Selection Questionnaire forms, CQC registration details, company accounts, bank and/or trade referees, letter of confirmation of the bidder’s ability to meet the lease financial commitments signed by the company’s finance director. The Landlord reserves the right not to accept the highest, or indeed any bid submitted. Further information on the procurement process can be found within the ITT documentation. For Invitation to Tender documents, please contact: Gary Yeardley MRICS Associate
Nicholas West MRICS Senior Analyst
+44 (0) 7912 038 276 +44 (0)161 235 7675
[email protected]
+44 (0) 7342 713 789 +44 (0)207 152 5891
[email protected]
Sam Gadar MRICS Surveyor
James Hanson MRICS Head of Healthcare Transactions
+44 (0) 7771 500 027 +44 (0)207 152 5936
[email protected]
+44 (0) 7779 225 392 +44 (0)207 152 5120
[email protected]
Cushman & Wakefield Debenham Tie Leung Limited ("C&W") gives notice to anyone who may read these particulars as follows: 1. These particulars are prepared for the guidance only of prospective purchasers. They are intended to give a fair overall description of the property only and do not constitute any part of an offer or contract. 2. Any information contained in these particulars (whether in the text, plans or photographs) is given in good faith but should not be relied upon as being a statement or representation of fact or that the property is in good condition or otherwise nor that any services or facilities are in good working order. 3. The photographs appearing in these particulars show only certain parts and aspects of the property at the time when the photographs were taken. Certain aspects may have changed since the photographs were taken and it should not be assumed that the property remains precisely as displayed in the photographs. Furthermore no assumptions should be made in respect of parts of the property which are not shown in the photographs. Any areas, measurements or distances referred to herein are approximate only. 4. Where there is reference in these particulars to the fact that alterations have been carried out or that a particular use is made of any part of the property this is not intended to be a statement that any necessary planning, building regulations or other consents have been obtained and these matters must be verified by any intending purchaser. 5. No person in the employment of C&W has any authority to make or give any representation or warranty whatsoever in relation to this property. 6. This property is offered subject to contract and unless otherwise stated all rents are quoted exclusive of VAT. 7. Unless otherwise stated, no investigations have been made by or on behalf of C&W regarding pollution, or potential land, air or water contamination. Interested parties are advised to carry out their own investigations as required.
