advantage one third avenue, bletchley milton keynes, mk1...

Modern Freehold Industrial Warehouse Investment Opportunity

ENTER

Advantage One Third Avenue, Bletchley

Milton Keynes, MK1 1DR



An opportunity to acquire a modern freehold industrial investment located in Milton Keynes

Let to Bitzer UK Ltd on full repairing and insuring terms from 4 January 2010 for a term of 10 years and there is a reversionary lease in place from 4 January 2020 to 3 January 2025

The current passing rent is £142,420 per annum (£5.00 psf)

Located on Denbigh West Trading Estate, a popular and established industrial area of Milton Keynes

The estate is very accessible being less than 1 mile from the A5 and less than 5 miles from J.13 and J.14 of the M1

Self contained modern detached industrial warehouse constructed in 2000

Modern industrial warehouse measuring 28,348 sq.ft (2,634 sq.m) with 6.2m eaves and 2 ground level full height loading doors

Externally there is a secure and separately accessed loading yard

The building sits on a total site area of 1.4 acres

Freehold

Offers in the region of £1.923,000 (One Million Nine Hundred and Twenty Three Thousand Pounds) subject to contract and exclusive of VAT reflecting an attractive NIY of 7.00% assuming purchaser’s costs of 5.8%.

INvEsTmENT summARy



Milton Keynes is one of the fastest growing commercial areas of the UK. A substantial part of this is down to it’s highly accessible location being centred between London, Birmingham, Oxford and Cambridge. Central London can be reached in 35 minutes by train.

Due to it’s excellent road network, Milton Keynes is considered as a leading distribution location in the UK. The building is just off the A5, linking the area to J.13 and J.14 of the M1 (less than 5 miles away). Milton Keynes’ grid road network, many of which being dual carriageways, means that congestion is kept to a minimum.

Milton Keynes is served by a number of International airports including London Luton (25 miles away), London Stansted (55 miles away), Birmingham International (66 miles), London Heathrow (54 miles) and East Midlands (71 miles).

Milton Keynes Central Station is well connected with regular links to Birmingham New Street (55 minutes), London Euston (35 minutes) and Manchester Piccadilly (1 hour 38 minutes).

Denbirgh Road

Third

Ave

nue

First Ave

Jam

es W

ay

Watling Street

Bletcham Way

Bond

Avenu

e

Saxo

n Street

Bletcham Way

Saxon Str

eet

High Street

Watling Street

Wh

add

on

Way

Wha

lley

Driv

e

Whalley Drive

Sherwoo

d D

riveG

rafton Street

A4146

A4146

A4146

A4146

A5

A5

A5

A5

A5

A5

A5

A509

A509

A421

A421

A421

A421

A421

J14

J13

M1

M1

FennyStratford

Westcroft

Tattenhoe

Loughton

NewtonLongville

Nash

StonyStratford

Statonbury

Brogborough

Broughton

Middleton

DenbighNorth

Granby

Mt FramPark

BletchleyPark

MiltonKeynesStadium

Wavedon

Woburn

WoburnGolf Club

WoburnSands

Simpson

Caldecotte

MiltonBryan

GreatBrickhill

LittleBrickhill

MILTONKEYNES

BLETCHLEY

BLETCHLEY

lOcATION



Milton Keynes is one of the fastest growing commercial areas of the UK. A substantial part of this is down to it’s highly accessible location being centred between London, Birmingham, Oxford and Cambridge. Central London can be reached in 35 minutes by train.

Due to it’s excellent road network, Milton Keynes is considered as a leading distribution location in the UK. The building is just off the A5, linking the area to J.13 and J.14 of the M1 (less than 5 miles away). Milton Keynes’ grid road network, many of which being dual carriageways, means that congestion is kept to a minimum.

Milton Keynes is served by a number of International airports including London Luton (25 miles away), London Stansted (55 miles away), Birmingham International (66 miles), London Heathrow (54 miles) and East Midlands (71 miles).

Milton Keynes Central Station is well connected with regular links to Birmingham New Street (55 minutes), London Euston (35 minutes) and Manchester Piccadilly (1 hour 38 minutes).

Denbirgh Road

Third

Ave

nue

First Ave

Jam

es W

ay

Watling Street

Bletcham Way

Bond

Avenu

e

Saxo

n Street

Bletcham Way

Saxon Str

eet

High Street

Watling StreetW

had

do

n W

ay

Wha

lley

Driv

e

Whalley Drive

Sherwoo

d D

riveG

rafton Street

A4146

A4146

A4146

A4146

A5

A5

A5

A5

A5

A5

A5

A509

A509

A421

A421

A421

A421

A421

J14

J13

M1

M1

FennyStratford

Westcroft

Tattenhoe

Loughton

NewtonLongville

Nash

StonyStratford

Statonbury

Brogborough

Broughton

Middleton

DenbighNorth

Granby

Mt FramPark

BletchleyPark

MiltonKeynesStadium

Wavedon

Woburn

WoburnGolf Club

WoburnSands

Simpson

Caldecotte

MiltonBryan

GreatBrickhill

LittleBrickhill

MILTONKEYNES

BLETCHLEY

BLETCHLEY

lOcATION



FIRST AVENUE

Denbigh WestIndustrial Estate 0m 25m 50m 75m

Milton Keynes is a hugely significant location in the UK for distribution and logistics. Existing occupiers in the area include John Lewis, Coca-Cola, Tesco, Amazon and Kuehne Nagel. More than 45 million people can be reached within a 4.5 hour HGV drive time from Milton Keynes.

Milton Keynes has been a significant success story for inward investment with than 500 firms opening offices in the city. The city is consistently ranked at the top of economic benchmarking surveys. In 2012, a report by Local Futures rated Milton Keynes as the ‘most attractive local authority area in England for prospective business and investment’. Experian also ranked Milton Keynes as the place with the best growth prospects for jobs and output for 2013-2017.

The property is located on Third Avenue, across the road from the Stadium MK development which includes IKEA, Asda and the DoubleTree by Hilton hotel.

sITuATION



Advantage One is a modern detached industrial warehouse on a self-contained site. The unit was constructed in 2000 and comprises a steel portal frame construction with metal profile cladding above curtain walling and glazing to the areas of the warehousing.

The warehouse is single bay with a 6.2m eaves and 2 ground level full height loading doors. The offices have been finished to a good modern standard and include suspended ceilings with CAT II lighting, carpets throughout, gas central heating and WC and kitchenette facilities.

The building sits on a total site area of 1.4 acres with 42 car parking spaces to the front and side of the building, a secure concrete yard to the rear and a further 13 parking spaces.

dEscRIpTION



sITE

The site area extends to approximately 1.4 acres (0.57 ha) providing a site density of 46.7%.

TENuREFreehold.

TENANcy

The property is let to Bitzer UK Limited for a term of 10 years from 4 January 2010 and there is a reversionary lease in place from 4 January 2020 to 3 January 2025 on full repairing and insuring terms. The current rent is £142,420 per annum (£5.00 psf).

AccOmmOdATION & TENANcy

Accommodation Area (Sq Ft) Area (Sq M)

Warehouse 22,920 2,129.1

Ground Floor Offices 5,238 486.8

Mezzanine Storage 326 30.3

TOTAL 28,484 2,646.2



31/12/2014 th GBP 31/12/2013 th GBP 31/12/2012 th GBP

Turnover 5,166 6,063 7,320

Pre-Tax Profit 501 181 731

Net Worth 3,209 2,906 2,691

Net Current Assets (Liabilities) 3,371 3,264 3,335

Bitzer UK specialises in refrigeration and air conditioning technology. It has been established for over 80 years, is represented in more than 90 countries and employs over 3,400 people.

Bitzer UK is part of the Bitzer SE Group, 5A 1 rated company based in Germany. Bitzer SE is one of the world leaders in refrigeration and air conditioning technology. In 2013 they reported a turnover of 621m EUR with a pretax profits of 37m EUR.

Bitzer UK Ltd has a Dun and Bradstreet rating of 2A 1. A financial summary is provided below:

cOvENANT



vAT The property is elected for VAT.

Epc C73

pROpOsAl We are instructed to seek offers in the region of £1.923,000 (One Million Nine Hundred and Twenty Three Thousand Pounds) subject to contract and exclusive of VAT reflecting an attractive NIY of 7.00% assuming purchaser’s costs of 5.8%.

AddITIONAl INfORmATION

misrepresentationIMPORTANT NOTICE (1) Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Knight Frank LLP in the particulars or by word of mouth or in writing (“information”) as being factually accurate about the property, its condition or its value. Knight Frank LLP has no authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). (2) Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. (3) Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. (4) VAT: The VAT position relating to the property may change without notice. Knight Frank LLP is a limited liability partnership registered in England with registered number OC305934. Knight Frank LLP registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members’ names. Designed & produced by Zest Design & Marketing 020 7079 3090 (01513) June 2015.

Ben Wisher T 0121 233 6456 M 07436 099 508 E [email protected]

Knight Frank LLP1 Colmore RowBirmingham B3 2BJ

contact

Ashley Hudson T 0121 233 6443 M 07771 976 848 E [email protected]

advantage one third avenue, bletchley milton keynes, mk1...

Documents