Estate Description and Valuation

Appendix A
Estate Description and Valuation
Plas Coch Campus, Mold Road, Wrexham
The premises are located about 1 mile to the west of Wrexham town centre
approximately 12 miles south west of Chester.
The premises are located just off the A483, which connects with the M53
motorway providing direct access to the M56 and the national motorway
network. Wrexham Station is located approximately 0.5 miles to the east of the
subject premises.
A site location plan based on the 1:25,000 Ordnance Survey map is attached at
the end of this section.
The premises are situated adjacent to Wrexham Football Club in a mixed-use
locality comprising both established and modern housing together with various
commercial uses including a tennis centre. The premises are situated close to
a Sainsburys, Homebase retail warehouse development and Wrexham Retail
and Leisure Park, which includes Sainsburys and a multiplex cinema. There is
also a public house.
The premises comprise a range of detached and inter-connecting purpose built
buildings currently utilised for educational purposes occupied by North East
Wales Institute of Higher Education. The buildings are of varying ages and
construction with the original buildings dating from the early 1950s and the most
recent buildings completed in 1999. Since our last report in 2000, there have
been various refurbishment programmes to existing buildings. Photographs are
attached at the end of this section showing the principal buildings on this
The various buildings identified on the attached Schedule of Individual values
are described as follows:
Main Building
A predominantly two-storey building constructed in 1953 of framed construction
with brick elevations under a flat roof. The building incorporates single storey
sections of similar construction under flat and pitched felt roof covers. The
main building is divided into four main blocks arranged around a central
grassed courtyard described in more detail as follows:
Block A
Two storey building providing administrative offices and coffee shop to the
ground floor with administrative offices to the first floor.
The main reception area, comprising an open plan area with access to the
single storey William Aston Hall and main Lecture Theatre, is situated in this
Block B
Two storey building providing office and teaching rooms at ground and first floor
Block C
Two storey building comprising laboratories at ground floor level with offices
and teaching rooms at first floor level. There is an additional single storey
section providing further laboratory accommodation and boiler house.
Block D
Single storey building dating from the 1960’s comprising teaching rooms and
offices together with refectory and kitchen.
Students’ Guild Building
Detached single storey framed building constructed in the 1950’s with brick
elevations under a pitched felt covered roof. There are several single storey
brick extensions of similar construction under flat roof covers. Internally the
accommodation is arranged to provide offices, shops and student bar.
Block F
Detached single storey building believed to date from the 1970’s of brick
construction under a flat roof cover arranged to provide office and ancillary
Engineering Workshops
Two inter connecting single storey framed buildings of 1970’s construction with
brick and pre-cast concrete panel elevations under a flat roof. The
accommodation provides a workshop with ancillary offices and stores. Two
further detached small steel frame workshops clad with profile metal are
situated at the northern end of the workshops.
Library Buildings
Detached 4 storey concrete framed building believed to date from the 1970’s
predominantly clad with glazed curtain walling under a flat roof. Internally the
building comprises a main ground floor entrance with bookshop and café off a
central foyer. The upper floor accommodation provides a range of teaching
rooms and benefits from 2 lifts.
A full height glazed atrium links this block to a modern library building
completed in 1994 of frame construction clad with brick elevations under steel
profile clad roofs incorporating a glazed lightwell. The accommodation is
arranged on ground and two upper floors with two mezzanine floors. The
ground floor provides two lecture theatres and an open plan study area with the
library situated on the two upper floors. The mezzanine floors provide offices
and further teaching rooms benefiting from a lift.
The Library building has recently been subject to a £280,000 refurbishment and
Student Hostel
Detached purpose built residential hostel believed to date from the 1960’s
predominantly of four storey and two storey frame construction with brick
elevations under a flat roof. Internally the building provides 44 bedrooms
(including 18 double rooms) together with communal areas including showers,
bath and toilets, kitchens and dining area.
Student Village
Detached purpose built student residence completed in 1994 comprising 2
three storey ‘L’ shaped blocks linked by a central single storey porter’s office
and laundry room. The building is of brick construction under pitched/hipped
tiled covered roofs. The accommodation is arranged in 7 blocks to provide 211
single bedrooms with en-suite facilities, including 6 disabled bedrooms,
arranged in flats of 6 bedrooms with a shared kitchen to each flat.
Crispin Lane
Purpose built detached and inter connecting buildings mostly constructed in
1969 of concrete frame construction with brickwork and rendered infill panels
under a flat roof. The main building is of three-storey construction providing
office and communal areas to the ground floor with teaching rooms and
ancillary offices to the first and second floors. An adjacent four storey tower
block linked at ground and second floor levels to the main building provides
additional accommodation, which has recently been refurbished.
An adjoining single storey building provides a main hall/refectory with kitchen
and boiler room and a further single storey block provides administrative offices
and art and design workshops. Both single storey buildings are linked to the
main complex via single storey link sections. There are three further detached
single storey buildings which operate as Techniquest@NEWI.
Sports Hall
Modern purpose built detached sports hall constructed in 1999 of steel frame
construction with barrel vaulted roof clad with profile metal. The first floor
comprises a gym, office and viewing area and benefits from lift access.
Astroturf Pitch
A newly constructed Astroturf pitch, which is flood lit and benefits from a seating
area for 200 persons. The pitch meets commonwealth games standards and
was constructed in 2006.
The property is of brick construction under a bituminous felt roof. A lean too
conservatory has been constructed on the eastern elevation. The property has
been refurbished internally benefiting from painted plastered walls and ceilings
and fluorescent strip lighting.
General Description
The premises have frontages to Mold Road, Plas Coch Road and Crispin Lane,
each incorporating two vehicular access points. Ample surfaced car parking is
provided within the main campus area accessed from Mold Road and Plas
Coch Road with further parking within the Crispin Lane site accessed from
Crispin Lane. Surfaced roadways and paved walkways provide circulation
within the site.
Playing fields are situated to the northern part of the site and there is a modern
floodlit Astroturf pitch adjoining the Crispin Lane site. The remainder of the
undeveloped areas to the road frontages are grassed and landscaped.
We attach a site plan indicating with red edging the boundaries of the site. We
calculate the total site area is approximately 13.61 hectares (33.64 acres).
The site is irregularly shaped and relatively flat and level.
We calculate that the premises have the following approximate gross internal
floor areas :
Main Building
Engineering Workshops
Student Hostel
Student Village
Crispin Lane
Sports Hall
Total Gross Internal Area
We understand the property is served by mains drainage, water, gas and
electricity, although these were not tested.
At the time of our inspection the property appeared to be in a fair state of repair
and condition commensurate with its age and use.
We are of the opinion that due to the age and nature of construction of the
subject premises, deleterious materials are unlikely to be present and assuming
that a regular maintenance programme is adhered to the property should have
a remaining life in excess of 30 years.
We have not undertaken a structural survey of the property, tested the services
or carried out an investigation to determine the presence or otherwise of any
deleterious materials. Furthermore, we have not been provided with copies of
any specialist reports in this respect. Unless otherwise stated, our valuation is
made on the basis of various assumptions relating to the property.
The property falls within an area governed by Wrexham Unitary Development
Plan which was adopted on 11 February 2005. This UDP superseded the
Wrexham Maelor Local Plan.
The subject property falls within an unallocated area within the UDP.
Rateable Value
We have made reference to the Valuation Office Agency, and are advised that
the property is entered in the 2005 Rating List as follows:
“University and Premises” – £873,500
We have been informed by you that the property is owned freehold.
Part of the site where Crispin Lane and the Astroturf pitch are situated is
subject to a covenant not to buy or receive, sell, advertise or expose for sale or
dispose of or prepare or manufacture on any part of the property any beer, ale,
porter, or other malt liqueurs, aerated water, cider, wines, spirits, liqueurs,
cordials or tobacco whatsoever.
We have assumed you possess good and marketable title free from any other
onerous or burdensome restrictions or encumbrances.
We have not undertaken a detailed site or environmental survey of the property.
We are not aware of any environmental issues or contamination, which would
affect our valuation. However, it should be noted that our comments do not
imply or give any warranty to that effect. Should it be established that
contamination exists at the property or on any neighbouring land, or that the
premises have been, or are being, put to any contaminative use, this might
reduce the values now reported.
We have made reference to the Environment Agency website and assessed the
subject properties proximity to flood plains and would comment that the
property has a low risk of flooding.
The site provides a compact educational institution complete with residential
accommodation and modern sports facility and playing fields. It is highly visible
from the main approach road into Wrexham from the A483.
The Grade II listing of the main building fetters your ability to deal freely with the
building which is an inconvenience and causes delays and extra cost
The Crispin Lane site was acquired in 1997 and provided useful extra teaching
accommodation within the existing campus environment. The agreement with
Techniquest@NEWI has improved usage of this area.
In our opinion the Market Value of the property, taking into account the potential
for alternative uses, is significantly less than the DRC figure reported within this
report. We have assumed a mix of re-use of existing buildings for commercial
purposes and redevelopment of part of the site for residential purposes in
preparing our assessment of Market Value.
Depreciated Replacement Cost
£31,015,000 (Thirty one million and fifteen thousand pounds)
Apportioned Land
£3,860,000 (Three million eight hundred and sixty thousand pounds)
Apportioned Buildings
£27,155,000 (Twenty seven million one hundred and fifty five thousand pounds)
We have prepared the following estimate as requested. We have made due
allowance for demolition, site clearance, re-building cost, professional fees and
Local Authority fees to provide for the construction of a modern building
providing comparable facilities on a day one basis. No addition has been made
for external works. VAT has been excluded.
£53,440,000 ((Fifty three million four hundred and forty thousand pounds)
Ordnance Survey Extract
APPENDIX B Extracts from the spreadsheets used to calculate the NPV
APPENDIX C Plas Coch Master Plan