South Kirkby,Pontefract WF9 3AP

A Bilfinger Real Estatecompany

For SaleHigh Yielding Industrial Investment with redevelopment potential

Unit 5Langthwaite Grange Industrial Estate,

Investment Summary• Industrial Unit Extending to 70,187 sq ft

• Possible redevelopment potential

• Freehold

• Let to Great Bear Distribution Ltd on a short term basis

• Current passing rent of £170,000 per annum

• Offers are sought in excess of £1,000,000

• Attractive initial yield of 16%

• Attractive capital value of £14.25 sq ft

Unit 5 Langthwaite Grange Industrial EstateSouth Kirkby, Pontefract WF9 3AP

Location

Langthwaite Industrial Estate is in the borough of Wakefield, South Yorkshire. The property is located on an established industrial estate between Wakefield which is approximately13 miles to the north-west of South Kirkby and Doncaster which is approximately 11 miles to the south-east of the premises. Doncaster Airport is around 19 miles to the south-east, and Leeds/Bradford Airport is approximately 35 miles to the north-west. Moorthorpe Railway Station is approximately one mile from the property.

Unit 5 Langthwaite Grange Industrial EstateSouth Kirkby, Pontefract WF9 3AP

The Langthwaite Business Park is situated on the edge of South Kirkby and Elmsall urban areas. The estate is well established and has good access to the A1M, northbound to the M62 and southbound to the M18.

There are a variety of occupiers on the Estate who include Hayley Northern, Eterniti Steels, Forest Freight Ltd, UNIVAR, and Total Timber Solutions.

The subject property comprises a single storey industrial unit constructed around the early 1960’s incorporating office accommodation to the front with car parking and a substantial yard with a site coverage of c. 30%.

The property is of steel portal frame construction with a mix of brick work and composite cladding panels to the elevations. The property has an eaves height to the main warehouse building of 12 metres which sit under a profile metal sheet roof with intermittent translucent panels.

The main warehouse is lit via suspended sodium lighting and has sliding concertina doors fitted to side elevation. The yard runs the full length of the building to both sides and the rear.

The office space is located to the side of the building running adjacent to Langthwaite Road. The office space is fully carpeted with painted walls, suspended ceilings, recessed lighting, radiators and perimeter trunking.

In addition to the yard and buildings, the property has an undeveloped area of c. 2.25 acres. The tenant’s demise includes most of this area, which is securely fenced off. However an area of c. 0.25 acres is not demised to the tenant and is being occupied by another party. The Administrators are seeking to establish the terms of the occupation.

Situation

Description

Unit 5 Langthwaite Grange Industrial EstateSouth Kirkby, Pontefract WF9 3AP

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The property has an approximate site area of 5.32 acres.

Great Bear are demised the area which is hatched in red. The total area of the demise is c. 5 acres with the undeveloped area being c. 2 acres.

The blue hatched area is occupied by a party and at present the Administrators are seeking to establish the terms of the occupation.

Site

Unit 5 Langthwaite Grange Industrial EstateSouth Kirkby, Pontefract WF9 3AP

We have measured the property in accordance with the RICS Code of Measuring Practice (6th Edition) and can report the building has a Gross Internal Area of 70,187 sq ft.

The property is held Freehold.

The property is let to Great Bear Distribution Ltd who are in occupation of the premises on FRI terms via reversionary lease dated the 20th December 2012 expiring 31st December 2015. There is a tenant’s option to determine the lease at any point after the 1st of July 2013 by giving three months’ notice.

The current passing rent is £170,000 per annum.

The lease is subject to a schedule of condition which is available to download via the marketing website.

Accommodation

Tenure

Tenancy

Unit 5 Langthwaite Grange Industrial EstateSouth Kirkby, Pontefract WF9 3AP

Great Bear Distribution Limited (Company No: 02899719) provide warehousing and storage facilities for land and transport activities. Their accounts have the following financial highlights:

31/12/2012 (£) 31/12/2011 (£) 31/12/2010 (£)

Turnover 117,557,439 93,087,670 87,140,449

Pre-tax profit 9,458,599 8,790,801 8,525,120

Shareholders funds 14,100,965 6,998,615 6,507,677

Great Bear Limited have a creditsafe rating of 97/100 indicating very good credit worthiness and an international score of A indicating a very low risk of business failure.

Great Bear Distribution LTD are a leading 3rd party UK logistics business providing nationwide dedicated and shared user warehousing and distribution solutions for international blue chip clients.

More information on the tenant can be sought at http://www.greatbear.co.uk/

Covenant Status

Unit 5 Langthwaite Grange Industrial EstateSouth Kirkby, Pontefract WF9 3AP

We understand that the property is elected for VAT and therefore we envisage that the sale will be treated as a TOGC.

D - 84

We have been instructed to seek offers in excess of £1,000,000.

A purchase at this level reflects a net initial yield of 16% after allowing for purchase costs of 5.8% and an attractive capital value of £14.25 sq ft.

VAT

EPC

Proposal

Unit 5 Langthwaite Grange Industrial EstateSouth Kirkby, Pontefract WF9 3AP

Further informationPlease click on an icon below:

Ben Hall - 0113 280 8064

ben.hall@gva.co.uk

Bruce Edmondson - 0113 280 8071

bruce.edmondson@gva.co.uk

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GVA is the trading name of GVA Grimley Limited and is a principal shareholder of GVA Worldwide, an independent partnership of property advisers operating globally gvaworldwide.com

GVA Grimley Limited Conditions under which Particulars are issued GVA Grimley Limited for themselves, for any joint agents and for the vendors or lessors of this property whose agentsthey are, give notice that:1.) The particulars are set out as a general outline only for the guidance of intending purchases or lessors and do not constitute, nor constitute part of, an offeror contract. 2.) All descriptions, dimensions, references to condition and necessary permission for use and occupation, and other details, are given in good faith and are believed to becorrect but any intending purchasers or tenants should not rely on them as statements or representations of fact but satisfy themselves by inspection or otherwise as to the correctnessof each of them. 3.) No person in the employment of GVA Grimley Limited or any joint agents has any authority to make or give any representation or warranty whatever in relation tothis property. 4.) All rentals and prices are quoted exclusive of VAT. Reproduced by courtesy of the Controller of HMSO. Crown Copyright reserved. Licence No 774359. If applicable, withconsent of Chas E Goad, Cartographers, Old Hatfield, Geographers A-Z Map Co Ltd and/or The Automobile Association. For identification purposes only. July 2014