industrial estate investment for sale - harris lamb
TRANSCRIPT
INDUSTRIAL ESTATE INVESTMENT FOR SALE◼ POPULAR MULTI-LET ESTATE
◼ PROMINENT LOCATION CLOSE TO JUNCTION 6 OF THE M6 MOTORWAY
◼ THREE UNITS COMPRISING 16,601 SQ FT
◼ LOW PASSING RENT OF £70,550 PER ANNUM, EQUATING TO £4.25 PER SQ FT
◼ OFFERS IN EXCESS OF £808,275, SUBJECT TO CONTRACT AND EXCLUSIVE OF VAT, REFLECTING A NET INITIAL YIELD OF 8.25%, ASSUMING PURCHASERS COSTS OF 5.8%
B R A C E B R I D G E S T R E E T | B I R M I N G H A M | B 6 4 N E
EXPRESSWAY INDUSTRIAL ESTATE
The estate is located on Bracebridge Street which is accessed off the A4540 Newtown Middleway, in close proximity to the A38 Aston Expressway. The estate is prominently located being clearly visible from the A38 Aston Expressway benefiting from excellent passing trade.
Birmingham City Centre is approximately 1 mile from the estate and is accessed via the A38 Aston Expressway/ Corporation Street giving direct access to the Centre.
Junction 6 of the M6 is accessed via the A38 Aston Expressway giving access to the M6 and in turn the national motorway network.
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EXPRESSWAY INDUSTRIAL ESTATE
STRATFORD-UPON-AVON
REDDITCH
DUDLEY
WARWICK
RUGBY
MARKETHARBOROUGH
CORBY
KETTERING
WELLINGBOROUGH
NORTHAMPTON
DAVENTRY
COVENTRY
NUNEATON
STRATFORD-UPON-AVON
REDDITCH
BIRMINGHAMBIRMINGHAM
DUDLEY
WARWICK
RUGBY
MARKETHARBOROUGH
CORBY
KETTERING
WELLINGBOROUGH
NORTHAMPTON
DAVENTRY
COVENTRY
NUNEATON
ASTON
WITTON
DUDDESTON
ADDERLEY PARK
BORDERSLEY
MOOR ST
SNOW HILL
JEWELLERYQUARTER
NEW STREET
FIVE WAYS
RO CKY LAN E
6 M6
AST
ON
EXP
RES
SWAY
A38(M)
LICH
FIEL
D ROAD
A4540
A41
A456
A457
A34
A45
A38
ASTON UNIVERSITY
EXPRESSWAY INDUSTRIAL ESTATE
BIRMINGHAMBIRMINGHAM
EXECUTIVE SUMMARY
◼ FREEHOLD INVESTMENT
◼ ESTABLISHED COMMERCIAL AREA
◼ STRATEGIC LOCATION APPROXIMATELY 2 MILES FROM JUNCTION 6 OF THE M6 MOTORWAY AND APPROXIMATELY 1 MILE FROM BIRMINGHAM CITY CENTRE
◼ THREE UNITS COMPRISING 16,601 SQ FT
◼ LOW PASSING RENT OF £70,550 PER ANNUM, EQUATING TO £4.25 PER SQ FT
◼ OFFERS IN EXCESS OF £808,275, SUBJECT TO CONTRACT AND EXCLUSIVE OF VAT, REFLECTING A NET INITIAL YIELD OF 8.25%, ASSUMING PURCHASERS COSTS OF 5.8% LOCATION
EXPRESSWAY INDUSTRIAL ESTATE | BIRMINGHAM | B6 4NE
A38(M)
DARTMOUTH CIRCUS
BRACEBRIDGE STREET
AS
TON
EX
PR
ES
SW
AY
Boundaries are for indicative purposes only
DESCRIPTIONThe estate comprises a terrace of 3 industrial units of steel portal frame construction with a pitched roof, part brick, part clad elevations and concrete floors. The units benefit from high bay sodium lighting and roller shutter door access to the front elevations with an eaves height of 5.4 metres.
Office accommodation is provided to the front of each unit with all benefiting from male and female toilet facilities and pedestrian entrances.
Externally the units have demised yards and parking areas.
Site area is approximately 0.85 acres, providing a site density of 44.84%.
TENURE The estate is held freehold.
COVENANTUnit 1: HFF Contracts Ltd (company number: 08652888).
Equifax credit rating: F (Very Poor). 6 month rent deposit.
Unit 2: Top Logistics Service Ltd (company number: 08643603).
Equifax credit rating: A (Excellent). 6 month rent deposit.
Unit 3: Lease in the name of Stuart Christopher O’Sullivan.
No Equifax rating available. 3 month rent deposit.
UnitSizesq ft
Sizesq m
TenantLease from
TermLease expiry
Break Option
NoticeRent per annum
Rent per sq ft
Inside the act? Rent free EPC Deposit
1 5,661 525.9 HFF Contracts Ltd 03/12/13 5 years 02/12/18 n/a n/a £22,500 £3.97 No C (72) 6 months headline rent
2 6,430 597.4 Top Logistics Service Ltd 21/11/13 5 years 20/11/18 20/11/16 6 months £25,500 £3.97 No
If the break is not exercised the tenant is to benefit from a reduced rent of £12,700pa for
the period of 12 months from and including the break date
D (80) 6 months headline rent
3 4,510 419.0Stuart Christopher
O'Sullivan t/a Auto Moto MOT Service Centre
08/05/12 5 years 07/05/17 n/a n/a £22,550 £5.00 Yes D (82) 3 months headline rent
16,601 1,542.3 £70,550 £4.25
TENANCY SCHEDULE
EXPRESSWAY INDUSTRIAL ESTATE | BIRMINGHAM | B6 4NE
DISCLAIMER: The Agents for themselves and for the vendors or lessors of the property whose agents they are give notice that, (i) these particulars are given without responsibility of The Agents or the Vendors or Lessors as a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract; (ii) The Agents cannot guarantee the accuracy of any description, dimension, references to condition, necessary permissions for use and occupation and other details contained herein and any prospective purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the accuracy of each of them; (iii) no employee of The Agents has any authority to make or give any representation or enter into any contract whatsoever in relation to the property; (iv) VAT may be payable on the purchase price and / or rent, all figures are exclusive of VAT, intending purchasers or lessees must satisfy themselves as to the applicable VAT position, if necessary by taking appropriate professional advice; (v) The Agents will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars. 03.16.
PROPOSAL
WE ARE INSTRUCTED TO SEEK OFFERS FOR THE FREEHOLD IN EXCESS OF
£808,275 (EIGHT HUNDRED AND EIGHT THOUSAND, TWO HUNDRED AND
SEVENTY FIVE POUNDS), SUBJECT TO CONTRACT AND EXCLUSIVE OF VAT.
A PURCHASE AT THIS LEVEL PROVIDES A NET INITIAL YIELD OF 8.25%, AFTER
ALLOWING FOR PURCHASERS COSTS OF 5.8%.
FURTHER INFORMATION
For further information or to arrange a viewing, please contact the sole agents.
PETER WOOD0121 213 600407966 497 [email protected]
ALEX EAGLETON0121 213 601107970 212 [email protected]
EXPRESSWAY INDUSTRIAL ESTATE | BIRMINGHAM | B6 4NE
VATVAT will be payable on the purchase price, however provided that the relevant conditions are met, the sale will be treated as a TOGC. We suggest that interested parties seek independent expert advice.