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Stephenson Way - Wavertree Business Park - Napier Court, Liverpool, MSY

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Wavertree Business Park - Napier Court Stephenson Way

Liverpool, L13 1HD


Property type:Office Sub Type:- Status:Existing Year built:1997
Floors:3 Typical floor:20,214 sq ft Building size:50,143 sq ft
For sale price:£4,500,000 Price:£89.74 sq ft
Yield:10.42 %
Parking:Free Surface spaces are available; Ratio of 3.15/1,000 SF Amenities:Kitchen, EPC - D, Natural Light, Open-Plan, Partitioned Offices


The property comprises an L shaped three storey purpose built headquarters styled office building constructed in 1997. There is a ground floor reception area and two wings of office accommodation.

The property is situated in a prominent position on Stephenson Way off Wavertree Avenue. Wavertree Technology Park is situated 2 miles (3.2 km) east of the City centre and 1 mile (1.6 km) from the M62. The park is located just to the south of Edge Lane (A5047) and serves as the primary route leading from Liverpool City centre to the M62.

Sale Notes:
The property is let to Sony Interactive Entertainment Europe Limited on a full repairing and insuring lease for a term of 10 years from 9 May 2014 (expiring 8 May 2024). There is a break option on 9 June 2020, subject to 6 months’ written notice. The current passing rent is £500,000 per annum (£9.97 per sq ft). The rent increases to £1,267,200 per annum (£25.27 per sq ft) from 10 May 2019 until 9 June 2020.

The Tenant’s break option may also be exercised between 10 June 2020 and 9 September 2020 subject to the payment of an increased rent of £1,620,000 per annum (£31.31 per sq ft). If the break option is not exercised during that period, the rent will revert back to £500,000 per annum (£9.97 per sq ft) from 10 September 2020 for the remainder of the term.

Dilapidations have been agreed at £1,650,000 (£33 per sq ft) should the Tenant exercise their option to option on 9 June 2020. Should the Tenant not exercise this option to break, the dilapidations will be a minimum of £1,500,000 (£30 per sq ft). Further information is available upon request.

Knight Frank LLP
Tom Dawson
0161 833 7717

Michael Pochin
0161 833 7692




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