multi-let industrial estate investment - commercial property
TRANSCRIPT
MULTI-LET INDUSTRIAL ESTATE INVESTMENT
RANSKILL COURT, EUROPA WAY, SHEFFIELD, S9 5FZ
HOLLOWAY DRIVE
RANSKILL COURT, EUROPA WAY, SHEFFIELD, S9 5FZ
M1 J34
A6102
Aerial Photo Investment Summary
Location |Situation
Description |Accommodation | Tenure
Tenancies VAT | Purchase Price | Contact
RANSKILL COURT, EUROPA WAY, SHEFFIELD, S9 5FZ
Investment Summary
• Multi-letindustrialestatesituatedtothenortheastofSheffieldCityCentreandwithincloseproximitytoJunction34oftheM1motorway.
• Constructedinearly1980’sandarrangedintwoterraces,providing13unitsextendingto3,327.59m2(35,819ft2).
• Goodunitsizesforlocalmarket,rangingbetween94m²(1,008ft²)and464m²(5,003ft²).
• Fullyletto8tenants,providingacurrentincomeof£172,388pareflectinganaveragerentofonly£48.65m²(£4.81ft²).
• Anaverageweightedunexpiredtermofapproximately4.7yearstoexpiryand3.9yearstobreak.
• Freehold.
• Offerssoughtintheorderof£1,630,000subjecttocontractandexclusiveofVAT,reflectinganetinitialyieldof10%netofpurchaser’scostsof5.8%.
• Lowcapitalvalueofonly£45.50ft2.
Aerial Photo Investment Summary
Location |Situation
Description |Accommodation | Tenure
Tenancies VAT | Purchase Price | Contact
RANSKILL COURT, EUROPA WAY, SHEFFIELD, S9 5FZ
Location
Sheffield isthefourth largestcity inEnglandandtheprincipalfinancialandcommercialcentreforSouthYorkshire,NorthNottinghamshireandNorthEastDerbyshire.TheCityissituatedapproximately32milesnorthofDerby,35mileseastofManchesterand33milessouthofLeedsandhasaresidentpopulationof531,000people.
RoadcommunicationsareexcellentwithboththeM1andM18motorwaysprovidingdirectlinkstotheA1(M)andM62motorways.TheCitybenefitsfromadirectrailservicetoLondon(StPancras)withafastestjourneytimeof2hours.Onalocallevel,theSupertramLightRailwayconnectsthenorthernandsouthernsuburbsintheCity.
RobinHoodAirportDoncasterSheffield,whichislocated25milesnortheastofSheffieldCityCentre,currentlyhandlesaround1millionpassengersayearflyingtoover40destinationsacrosstheglobe.
Situation
Thepropertyislocatedapproximately4milestothenorthofSheffieldCityCentre.Junction34oftheM1motorwayislocatedapproximately¾miletothenortheastofthesubjectpropertyanditisalsoincloseproximitytoSheffieldCityAirport,whichisnowusedforcommercialflightsonly.
ThepropertyissituatedinahighlyprominentandextensivepositionadjacenttoShepcoteLane(A631)whichlinksviatheA6102withSheffieldParkwaytothesouthandalsoactsasalinkroadfromJunction34oftheM1motorwaytoSheffieldCityAirport.
The immediate area is predominantly industrial although the Lower Don Valley has been significantly transformedduring thepast15years including thedevelopmentofSheffieldBusinessPark,oneofYorkshire’s largestbusinessparks,situatedlessthanamiletothesoutheast.
M25 RANSKILL COURT
Aerial Photo Investment Summary
Location |Situation
Description |Accommodation | Tenure
Tenancies VAT | Purchase Price | Contact
RANSKILL COURT, EUROPA WAY, SHEFFIELD, S9 5FZ
Description
Thepropertycomprisesaself-contained industrialestatedating fromtheearly1980s.Theschemeprovides13 individualunits rangingbetween94m²(1,008ft²)and464m²(5,003ft²)whicharearrangedintwoterraces.
Theeasternblockisofsteelportalframeconstructionwithapitchedroof.Thewesternblockisofsteelframeconstructionunderneathamono-pitchedroof.Bothincorporatelowlevelbrick/blockworkwallswithplastisolcoatedprofilesteelsheetingaboveandtotheroofs.
Externally,thesiteisapproachedbyaconcretesurfacedroadwayincorporatingacombinationofconcreteandtarmacadamsurfacedparkingbaysandservicingareas.
Accommodation
Thepropertyprovidesatotalgrossinternalfloorareaof3,327m²(35,819ft²)andabreakdownoftheindividualunitareasisprovidedwithintheTenancySchedule.
Thetotalsiteareaisapproximately0.80hectares(1.98acres)providingasitedensityofapproximately42%.
Tenure
Thepropertyisheldfreehold.
1 3
5
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1312
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4 2
For identification purposes only
Aerial Photo Investment Summary
Location |Situation
Description |Accommodation | Tenure
Tenancies VAT | Purchase Price | Contact
RANSKILL COURT, EUROPA WAY, SHEFFIELD, S9 5FZ
TenanciesThepropertyisletto8tenantson12occupationalleasesandcurrentlyproducesarentalincomeof£172,388perannum.Therentsrangebetween£4.42and£5.46perft2.
Theaverageweightedleaselengthis4.7yearstoexpiryand3.9yearstobreak.
Unit Tenant Name Area (ft2) Lease Start Expiry Date Rent Review (Breaks)
Current Rent pa
Rent Rate per ft2
Comments
Unit 1 Orona Limited(01317466) 1,249 19/02/2010 18/02/2015 (09/02/2013) £6,300 £5.04 Outside L&T Act 1954. Tenant option on 6 months notice.
Unit 2 & 4 Doorpac Limited(06025633) 5,459 02/02/2012 06/12/2016 £29,565 £5.42 Photographic Schedule of Condition.
Unit 3 Dolphin Freight Services Limited(2388352) 1,008 11/07/2010 10/07/2015 £5,500 £5.46
Unit 5 Mr Andrew Reed t/a Clever Smart 2,376 19/05/2010 18/05/2015 £10,500 £4.42 £2,626 rent deposit. Outside L&T Act 1954.
Unit 6 Doorpac Limited(06025633) 3,914 07/12/2011 06/12/2016 £18,397 £4.70 Photographic Schedule of Condition.
Unit 7 Globe Transport Products Limited(4441938) 2,373 13/05/2011 13/05/2020
13/05/201413/05/2017 (13/05/2014)
£10,517 £4.43 Outside the Landlord and Tenant Act 1954. 3 months rent free if the break clause is not activated.
Unit 8 Doorpac Limited(06025633) 3,914 07/12/2011 06/12/2016 £18,744 £4.79 Photographic Schedule of Condition.
Unit 9 JT Handtools 2,340 01/04/2011 31/03/2016 Annual £10,500 £4.49 Annual break option on 3 months notice. Ouside the Landlord and Tenant Act 1954.
Unit 10 Doorpac Limited(06025633) 3,515 07/12/2011 06/12/2016 £16,877 £4.80 Photographic Schedule of Condition.
Unit 11 Trade Kitchen Interiors Limited(07716661) 2,343 22/08/2011 21/08/2014 £10,500 £4.48 Half rent for 12 months to be topped up.
£1,000 rent deposit. Outside the Landlord and Tenant Act 1954.
Unit 12 Doorpac Limited(06025633) 5,003 07/12/2011 06/12/2016 £23,688 £4.73 Photographic Schedule of Condition.
Unit 13Bramley Brook Commercials Limited(02788409)
2,325 20/02/2009 19/02/201820/02/201220/02/2015(20/02/2014)
£11,300 £4.86 Guarantors - Bryan Cooke and Nigel Wainwright. £2,825.01 break penalty. Tenant break option on 6 months notice.
Total 35,819 £172,388
Aerial Photo Investment Summary
Location |Situation
Description |Accommodation | Tenure
Tenancies VAT | Purchase Price | Contact
RANSKILL COURT, EUROPA WAY, SHEFFIELD, S9 5FZ
VATThepropertyiselectedforVAT,althoughweanticipatethatthesalewillbebywayofTOGC.
Purchase Price
Weareinstructedtoseekoffersintheregionof£1,630,000 (One Million, Six Hundred and Thirty Thousand Pounds)reflectinganetinitialyieldof10%netofpurchaser’scostsof5.8%.
Thisreflectsalownetcapitalvalueofonly£45.50 ft².
Contact
Forfurtherinformationortoarrangeaviewing,pleasecontact:-
AndrewSummersgill SamFairbairn LauraWoodwardLeeds London Leeds+44(0)1132355209 +44(0)2070875382 +44(0)[email protected] [email protected] [email protected]
©CrownCopyright2012.Allrightsreserved.Promaplicencenumber100020449.JonesLangLaSallelicencenumber100017659.Thisplanispublishedfortheconvenienceofidentificationonlyandalthoughbelievedtobecorrectisnotguaranteedanditdoesnotformanypartofanycontract.
MisrepresentationsAct1967&DeclarationJonesLangLaSalleforthemselvesandforthevendorsofthispropertywhoseagentstheyaregivenoticethat:a)theparticularsaresetoutasgeneraloutlineonlyfortheguidanceofintendingpurchasersanddonotconstitute,norconstitutepartof,anofferorcontract;b)alldescriptions,dimensions,referencestoconditionandnecessarypermissionsforuseandoccupationandotherdetailsaregiveningoodfaithandarebelievedtobecorrect,butanyintendingpurchasershouldnotrelyonthemasstatementsorrepresentationsoffactbutshouldsatisfythemselvesbyinspectionorotherwiseastothecorrectnessofeachofthem;c)nopersonintheemploymentofJonesLangLaSallehasanyauthoritytomakeorgiveanyrepresentationorwarrantywhateverinrelationtothisproperty.February2012.
Aerial Photo Investment Summary
Location |Situation
Description |Accommodation | Tenure
Tenancies VAT | Purchase Price | Contact
0113 244 6440 020 7493 4933