south west london industrial warehouse investment … · south west london industrial warehouse...

8
HAMPTON 130 OLDFIELD ROAD TW12 2HT LONDON BOROUGH OF RICHMOND UPON THAMES South West London Industrial Warehouse Investment with Guaranteed Rental Uplifts

Upload: truonganh

Post on 06-Jul-2018

221 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: South West London Industrial Warehouse Investment … · South West London Industrial Warehouse Investment with Guaranteed Rental Uplifts. 3 ... » Let to Hallite Seals International

HAMPTON130 OLDFIELD ROAD

TW12 2HTLONDON BOROUGH OF RICHMOND UPON THAMES

South West London Industrial Warehouse Investmentwith Guaranteed Rental Uplifts

Page 2: South West London Industrial Warehouse Investment … · South West London Industrial Warehouse Investment with Guaranteed Rental Uplifts. 3 ... » Let to Hallite Seals International
Page 3: South West London Industrial Warehouse Investment … · South West London Industrial Warehouse Investment with Guaranteed Rental Uplifts. 3 ... » Let to Hallite Seals International

3

130 OLDFIELD ROAD, HAMPTON, LONDON BOROUGH OF RICHMOND UPON THAMES, TW12 2HT

INVESTMENT SUMMARY » Greater London industrial warehouse investment opportunity.

» Headquarters building, located close to the A306 and J1 of the M3 motorway.

» Modern, well specified warehouse facility, completed in 2006.

» Freehold

» Totalling approximately 7,926 sq m (85,317 sq ft) GIA.

» Let to Hallite Seals International Ltd (D&B 2A1), with a guarantee from Fenner Advanced Sealing Technologies Ltd (D&B 3A1).

» 25 year lease commencing 24th June 2006, leaving approximately 16 years unexpired.

» £782,000 per annum from June 2016 (£9.17 per sq ft overall).

» 5 yearly rent reviews, with the benefit of fixed rental increases written into the lease, equivalent to approximately 2.83% per annum compound growth.

» Offers sought in excess of £12,320,000 reflecting a net initial yield of 6.00% after purchasers costs of 5.80% (based on a top up by the vendor to the June 2016 uplift).

» Attractive capital value of only £144 per sq ft.

» Guaranteed reversionary yield based on the fixed rental increases as follows:

June 2021 6.90%

June 2026 7.93%

Page 4: South West London Industrial Warehouse Investment … · South West London Industrial Warehouse Investment with Guaranteed Rental Uplifts. 3 ... » Let to Hallite Seals International

LOCATIONHampton is an affluent London suburb located in the Borough of Richmond upon Thames, approximately 19 km (12 miles) south west of Central London. The area is connected to central London via the A316 which can be accessed approximately 2.5 km (1.5 miles) to the north west. The A316 in turn links to the A4.

Junction 1 of the M3 motorway is within 3 km (2 miles) of Hampton via the A308. Junction 12 of the M25 motorway intersects with the M3 motorway approximately 13 km (8 miles) away.

Hampton railway station is situated approximately 0.8 km (0.5 miles) from the subject property and provides regular services into London Waterloo with a fastest journey time of approximately 43 minutes.

London Heathrow International Airport lies approximately 11 km (7 miles) to the north.

A308

THE AV

ENU

E

PER

CY

RO

AD

STATION ROAD

OLDFIELD ROAD

PRIORY ROAD

HOLLY BUSH LANE

BROAD LANE

HATH

EROP RO

AD

G LOUCESTER R

OAD

WEN

SLEYD

ALE R

OA

D

LOWER SUNBURY ROAD

Twickenham RugbyFootball Club

CarlislePark

Sunnyside ReservoirRiver Thames

Hampton

130 OLDFIELD ROAD, HAMPTON

Sunbury& M3 J1

Hampton Court,Kingson & A3

M4M4

M40

M25

M25M3

A40A406

A316

A309

A308

A30

A4

A3

A3A23

A24

A232

A214

A41

A1

WEST END

RICHMOND

WEMBLEY

CROYDON

SLOUGH

LEATHERHEAD

WOKING

HAMPTON

THE CITY

LONDONHEATHROW

SITUATIONThe property is located on Oldfield Road which via Station Road provides direct access to the A308.

The A308 runs between Junction 1 of the M3 at Sunbury in the west and Kingston and the A3 to the east.

Adjacent to the property is Kempton Gate, a development of 17 industrial warehouse units, whilst Kempton Park Racecourse is immediately to the west of the property.

130 OLDFIELD ROAD, HAMPTON, LONDON BOROUGH OF RICHMOND UPON THAMES, TW12 2HT

54

Page 5: South West London Industrial Warehouse Investment … · South West London Industrial Warehouse Investment with Guaranteed Rental Uplifts. 3 ... » Let to Hallite Seals International

130 OLDFIELD ROAD, HAMPTON, LONDON BOROUGH OF RICHMOND UPON THAMES, TW12 2HT

54

DESCRIPTIONThe property comprises a modern industrial warehouse building with integral 3 storey office accommodation developed in 2006. The property is of steel portal frame construction clad with insulated profile metal sheeting.

The unit offers a modern specification benefiting from 3 surface level electrically operated loading doors to the warehouse which in the future makes the property capable of further sub-division to create 3 separate units each with their own loading bay.

The floor loading of the warehouse has been designed to accommodate a minimum uniformly distributed load of 37.5 kn/m2 (750 lbs per sq ft).

The unit benefits from a clear internal eaves height of 6 m.

Internally, the unit comprises ground floor warehouse accommodation and a tenant installed mezzanine floor, with first and second floor offices to the front elevation and at ground floor level the office block is utilised by the tenant as a laboratory. The office accommodation also provides for male and female WC’s on each floor and a 1 x 8 person passenger lift in addition to the main staircase providing access to each level.

There is on site car parking for 103 vehicles providing a ratio of 1:77 per sq m (1:828 sq ft).

The property is situated on a site of 1.28 hectares (3.16 acres) with a site coverage of 49%.

Page 6: South West London Industrial Warehouse Investment … · South West London Industrial Warehouse Investment with Guaranteed Rental Uplifts. 3 ... » Let to Hallite Seals International

130 OLDFIELD ROAD, HAMPTON, LONDON BOROUGH OF RICHMOND UPON THAMES, TW12 2HT

76

ACCOMMODATIONThe property provides the following floor areas measured on a Gross Internal basis:

USE SQ M SQ FTGround Floor Warehouse / Production & Offices 6,195 66,685First Floor Offices 553 5,950Second Floor Offices 553 5,950Mezzanine Canteen / Stores / Staff 625 6,732

7,926 85,317

SITEThe property occupies a site of approximately 1.28 hectares (3.16 acres).

TENUREFreehold.

TENANCY INFORMATIONThe property is let to Hallite Seals International Limited for a term of 25 years from 24th June 2006, expiring 23rd June 2031.

The lease is subject to 5 yearly upwards only rent reviews with increases written into the lease, equivalent to approximately 2.83% per annum compound growth, as follows:

June 2016 £782,000.20 per annum

June 2021 £899,300.23 per annum

June 2026 £1,034,195.26 per annum

The current passing rent is £680,000.18p per annum and our client will top up the current rent to £782,000.20p per annum.

The lease is guaranteed by Fenner Advanced Sealing Technologies Ltd.

Page 7: South West London Industrial Warehouse Investment … · South West London Industrial Warehouse Investment with Guaranteed Rental Uplifts. 3 ... » Let to Hallite Seals International

130 OLDFIELD ROAD, HAMPTON, LONDON BOROUGH OF RICHMOND UPON THAMES, TW12 2HT

76

OLD

FIELD R

OA

D

OLDFIELD ROAD

COVENANT INFORMATIONTenant: Hallite Seals International Limited (Company Number – 310223)

Hallite produce high performance seals and sealing solutions for the global fluid power industry, ranging from mining to aerospace sectors. They operate from facilities in Houston (Texas), Hamburg (Germany) and Hampton (UK).

Further information can be found at www.hallite.com

Hallite Seals International Ltd have a D&B rating of 2A1, and for the last 3 years have reported the following accounts:

HALLITE SEALS INTERNATIONAL LTD 31/08/2013 31/08/2012 31/08/2011

Turnover £19,792,000 £22,817,000 £22,406,000

Pre-Tax Profits (Loss) £383,000 £2,669,000 £3,043,000

Net Worth £5,413,000 £6,573,000 £6,654,000

Guarantor: Fenner Advanced Sealing Technologies Limited (Company Number – 2340603)

The lease is subject to a guarantee by the parent company Fenner Advanced Sealing Technologies Limited, who are a holding company with a D&B rating of 3A1 and a reported net worth of £9,587,155.

The ultimate parent company is Fenner Plc, a leading British based manufacturer of industrial belting and other polymer based products, founded in 1861. Further information can be found at www.fenner.com.

Page 8: South West London Industrial Warehouse Investment … · South West London Industrial Warehouse Investment with Guaranteed Rental Uplifts. 3 ... » Let to Hallite Seals International

MISREPRESENTATION ACT 1967 Tudor Toone Ltd, for itself and for the vendors of this property, hereby give notice that:

These particulars do not constitute, nor constitute any part of, an offer or contract.

Tudor Toone Ltd and its members accept no legal responsibility for any statement or representation whether written, oral or implied or whether contained in any advertisement particulars or other matters issued or any correspondence entered into by them and whether made in any antecedent present or subsequent enquiries or negotiations.

Neither Tudor Toone Ltd nor their principals, members, agents, servants or representatives have any authority whatsoever to make or give any representation or warranty whatsoever whether written or implied in relation to this property.

Any intending purchaser must satisfy himself by inspection or otherwise as to the correctness of any antecedent present or subsequent statements or representations, and should not rely upon the same unless he has satisfied himself accordingly. Unless otherwise stated all prices and rents are quoted exclusive of value added tax (VAT). Any intending purchasers or lessees must satisfy themselves independently as to the incidence of VAT in respect of any transaction.

Subject to contract & exclusive of VAT.

Tudor Toone Ltd is a limited company registered in England and Wales (registered number 7330167). Registered office: 41/43 Maddox Street London W1S 2PD.

Details prepared April 2015.

EPCA copy of the EPC is available upon request.

VATThe property is elected for VAT and it is proposed the sale will be by way of a TOGC.

PRICEWe are instructed to seek offers of £12,320,000 (Twelve Million, Three Hundred and Twenty Thousand Pounds), subject to contract and exclusive of VAT. A purchase at this level reflects an attractive net initial yield of 6.00% and a guaranteed reversionary yield of 7.93% after purchaser’s costs of 5.80%.

By way of the future guaranteed rental increases, the yield will rise as follows:

DATE RENTAL UPLIFT REVERSIONARY YIELD

June 2021 £899,300 6.90%

June 2026 £1,034,195 7.93%

FURTHER INFORMATIONFor further information or to arrange an inspection, please contact:-

Rob Tudor Tel: 0207 495 5550 BSC (Hons) MRICS Mob: 07767 250 004 Director Email: [email protected]

Lee Evans Tel: 0207 495 5550 BSC (Hons) MRICS Mob: 07900 581 920 Associate Email: [email protected] SUBJECT TO CONTRACT AND EXCLUSIVE OF VAT