TOLLGATE COURT BUSINESS PARK - TOLLGATE DRIVE, STAFFORD, ST16 3HS - TOLLGATE COURT BUSINESS CENTRE - Fastly
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
MULTI-LETBUSINESS
MULTI-LET INDUSTRIAL
PARKINVESTMENT
INVESTMENTOPPORTUNITY
OPPORTUNITY TOLLGATE COURT BUSINESS CENTRE
TOLLGATE DRIVE, STAFFORD, ST16 3HS
A513 SANDON ROAD
A513 SANDON ROAD
ENTER
TOLLGATE COURT BUSINESS PARK
TOLLGATE DRIVE, STAFFORD, ST16 3HS
MULTI-LET BUSINESS PARK INVESTMENT OPPORTUNITY TOLLGATE COURT BUSINESS PARK
TOLLGATE DRIVE, STAFFORD, ST16 3HS
INVESTMENT SUMMARY
• Multi-let Industrial / Office investment in a prominent location within 2 miles from • Currently producing a net rental of £394,466
Junction 14 of M6 (via A34)
• Low passing rental levels with average of only £4.18 for industrial units and £8.05
• Modern industrial warehouse facility, with small business centre extending to (net) for the office space, offering significant reversionary potential
91,675 sq ft in total on a site of 4.17 acres
• Seeking offers in excess of £4,750,000
• Estate is let to 6 industrial tenants and various office tenants within the business
• Assuming standard purchasers costs of 6.58% a purchase at that level reflects:
centre
Net Initial Yield - 7.79%
• Industrial income equates to 82% of the total rent with remaining 18% from the Reversionary yield - 9.79%
business centre Capital Value (Per sq ft) - Office - £80.00 psf
- Industrial - £46.76 psf
HOME INVESTMENT SUMMARY AERIAL LOCATION SITUATION DESCRIPTION Accommodation TENANCY covenant FURTHER INFORMATION
MULTI-LET BUSINESS PARK INVESTMENT OPPORTUNITY TOLLGATE COURT BUSINESS PARK
TOLLGATE DRIVE, STAFFORD, ST16 3HS
M6
JCT14 M6
A513 BEACONSIDE
UK MAIL
ELSTER METERING
EDMUNDSON ELECTRIAL HUWS GREY LTD A513 SANDON ROAD
TOLLGATE COURT
WE BUY ANY CAR CITY PLUMBING
YESS ELECTRICAL
HOME INVESTMENT SUMMARY AERIAL LOCATION SITUATION DESCRIPTION Accommodation TENANCY covenant FURTHER INFORMATION
A51 A34
STOKE-ON-TRENT A6 A38
26
TOLLGATE COURT BUSINESS PARK
llen A525
A52
N
MULTI-LET BUSINESS PARK INVESTMENT OPPORTUNITY
15
A51 A52
25
A515
A53
A34
A520 TOLLGATE DRIVE, STAFFORD, ST16 3HS
A50
GLASGOW
M8
M90
Derby
A
EDINBURGH
M77
A495
LOCATION
M74 A6
A519 Stone A1(M)
M1
A518 A50
NEWCASTLE
24
A5013 A51 A511
UPON TYNE A453
A38 CARLISLE
Stafford is a significant industrial location centrally located in the
A34
A49
heart of the UK between Birmingham (20 miles to the south) and A41 A519 STAFFORD M6
23a
Manchester (55 miles to the north). The County of Staffordshire 14 A1(M)
A53 A518
has a population A5of around 825,000 people with around 2.76 million B5405 LEEDS
A444
M55
M62
living in a 45 minute drive of the area.
LOUGHBOROUGH
M1
13 MANCHESTER
A38 M62
23
The County of Staffordshire has a rich heritage for business and TOLLGATE COURT LIVERPOOL
M6 M1
Shrewsbury
commercial development with large multi nationals such as Bet STAFFORD A1(M)
M54
12
365, JCB, JLRA458
and Amazon all having similar operations in the area. BIRMINGHAM
M6 A14
A5
M54 A5148 22
The nearby Staffordshire and Crewe Universities have excellent 7 11 M5 A1(M)
A14
6 5
reputations for engineering and computing courses. Telford M50
M40 M1
4
11 T7
T6 A51
M42 M25
3 T5
2 1 A444
M4
M4 LONDON
The building enjoys excellent transport links being located on 10 M25 M26
T4
M3
M23 21a A56
Tollgate Business Park, a strategic area close to the M6 A458
(junction BRISTOL
M5
10
14). The property is served by the wider motorway network and the
M6 Toll A5
SOUTHAMPTON
3
21
area benefits from the M6 toll (11 miles to the south), the M5 (20 T3
8
miles to the south) and M1 (27 miles south east). Stafford railway T2 2
A545 9
station is well connected with regular links to Birmingham New 7
T1
8
A49
Street (33 minutes), London Euston (1 hour 15 minutes), Liverpool 9 Nuneaton M69 M
Lime Street (54 minutes), Manchester Piccadilly (58 minutes) and 1 A456 6
M6 4
1 20
5
Stoke on Trent (18 minutes). BIRMINGHAM
7a
A442 2 4
7 3a 3
A38 A34 A41 2
Stourbridge A455
3
6
COVENTRY M6 19
A435 1
Kidderminster
M42
5
A452
Established industrial M42 2
4
4
1
3 Kenilworth
4a 3a Rugby
M5
location in the heart of the UK
1
16
A456 Kingswood
5 Redditch M40 sat nav: ST16 3HS
15 Leamington Spa
6
ndod Wells 14
Leominster
A44
HOME
Kington INVESTMENT
A44 SUMMARY A44
AERIAL LOCATION SITUATION
WORCESTER DESCRIPTION
7 Accommodation TENANCY
A46 covenant 13
FURTHER INFORMATION
A4112 A440
MULTI-LET BUSINESS PARK INVESTMENT OPPORTUNITY TOLLGATE COURT BUSINESS PARK
TOLLGATE DRIVE, STAFFORD, ST16 3HS
A5
01
3C situation
A34
RE
S M6
A513 SANDON ROAD
W
Tollgate Business Park is an established business location in
EL
L
the Stafford area. Nearby occupiers include Horsley’s, UK Mail,
GR
D
OA Evostic, National Plastics, YESS Electrical, City Plumbing Supplies
OV
B5 R
066 S
ANDON
E
and MOD Stafford.
A34
The property itself is located on Tollgate Drive which is accessed
from Beaconside (A513) which connects to Junction 14 of the M6
4
A3 TOLLGATE COURT Motorway (via A34) in less than 2 miles.
14
A5
01
A513
3
EC
an established and popular
ROAD
CL
BEA
ES
HA
COMMON
C
L
ON
L
business location
RO
SID
AD
A34
E
AD
O
R
N
O
D
N
SA
6
06
A51
B5
3
M6
CO
RP
O
RA
TI
O
N
ST
RE
ET
A3 4
DOXEY ROAD
DO
A34 D
OA
X EY
RO
AD R
ON
ST
WE
18
A5
STAFFORD
A518
HOME INVESTMENT SUMMARY AERIAL LOCATION SITUATION DESCRIPTION Accommodation TENANCY covenant FURTHER INFORMATION
MULTI-LET BUSINESS PARK INVESTMENT OPPORTUNITY TOLLGATE COURT BUSINESS PARK
TOLLGATE DRIVE, STAFFORD, ST16 3HS
description
The property comprises a modern manufacturing/warehouse facility which has been split to provide 6 Loading access is via roller shutter doors to a substantial yard and parking area.
industrial units and one office building.
The Business Park includes a modern office building located at the entrance which provides high quality
The main industrial building is of steel frame construction with profile metal clad elevations and roof. office accommodation across 3 floors. The accommodation has been split to provide a semi serviced
business centre with a number of office suites ranging from 150 – 800 sq.ft. The office is fitted out to
The building has been extended by way of a steel frame addition to the front. Whilst the extension is of a good specification and has raised carpeted floors, CAT 2 and LED lighting, toilet and shared kitchen
good quality construction, a new concrete slab has not been laid so the floor comprises part of the former facilities on each floor as well as a shared boardroom and a passenger lift.
tarmacadam yard with a slight gradient down to the yard area.
Externally there is a tarmacadam yard and a large car park area to the front and side of the building and the
Clear working heights range are from 5.3m to 7.6m and there is a variety of high bay sodium fluorescent whole site it secured by a palisade fence.
lighting and gas fired Ambirad heaters in part. Each unit has office facilities of varying sizes and quality.
HOME INVESTMENT SUMMARY AERIAL LOCATION SITUATION DESCRIPTION Accommodation TENANCY covenant FURTHER INFORMATION
MULTI-LET BUSINESS PARK INVESTMENT OPPORTUNITY TOLLGATE COURT BUSINESS PARK
TOLLGATE DRIVE, STAFFORD, ST16 3HS
Accommodation
The property has been measured in accordance with the RICS
Code of Measuring Practice (6th Edition) and comprises the
following gross internal floor areas (GIA).
Yess Electrical
The site extends to approximately 4.17 acres with a site cover of 44%. City Plumbing
Supplies
Unit Sq Ft Sq M
1 29,331 2,725
2 33,000 3,066
3 4,227 393
4 5,512 512
A5
5 3,114 289
13
6 5
6 2,544 236
3
SA
Office * 13,947 1,296
ND
Total 91,675 8,517 4
ON
*Measured NIA and based on single occupancy arrangement
2
RO
AD
1
Office
For identification purposes only
HOME INVESTMENT SUMMARY AERIAL LOCATION SITUATION DESCRIPTION Accommodation TENANCY covenant FURTHER INFORMATIONMULTI-LET BUSINESS PARK INVESTMENT OPPORTUNITY TOLLGATE COURT BUSINESS PARK
TOLLGATE DRIVE, STAFFORD, ST16 3HS
tenancy
LEASE Gross Rent NET RENT * ERV
UNIT DESCRIPTION TENANT NIA BREAK COMMENT
COMMENCEMENT EXPIRY (RENT Per annum Per sq ft Per Annum Per Sq Ft
REVIEW)
Guaranteed by De Dietrich SAS (registered
Unit 1 Industrial De Dietrich Process Systems 29,331 05/01/2017 27/09/2022 N/A £122,500 £4.18 £143,722 £4.90
in France)
12 month extension agreed and in legals.
Guaranteed by Storage Boost (Crewe) Ltd
Unit 2 Industrial Storage Boost (Stafford) Ltd 33,000 31/12/2007 31/12/2018 N/A £144,684 £4.38 £173,250 £5.25 Tenant intending to relocate to a brand new
facility within the next 24 months (Under
Construction)
Unit 3 Industrial TD Service Centre (Stafford) 4,227 15/02/2017 31/01/2023 N/A £17,950 £4.25 £22,192 £5.25 Pay monthly in advance
Unit 4 Industrial UPVC Distributors Ltd 5,512 19/05/2017 31/03/2022 01/04/2020 N/A £16,500 £2.99 £28,938 £5.25
Subject to SOC. Mezz of c. 1,075 sq ft (not
Unit 5 Industrial 1st Call Mobility 3,114 02/09/2014 01/06/2019 N/A £12,995 £4.17 £16,349 £5.25
included in areas) Installed by the tenant.
Unit 6 Industrial Autoline Accessories 2,544 01/04/2013 31/03/2019 N/A £9,998 £3.93 £13,356 £5.25 Pay monthly in advance
Subtotal 77,728 £324,627 £385,404
Business Detailed schedule available on request.
31 Office Units 14 Various tenants 9,432 £71,023 £7.40 £97,883 £10.38
Centre Over 85% of space currently let.
87,160 £395,650 £495,689
* Office rents within the Business Centre are agreed on an all inclusive basis but rents listed in the schedule are net of service charge, insurance, utilities and general running costs.
HOME INVESTMENT SUMMARY AERIAL LOCATION SITUATION DESCRIPTION Accommodation TENANCY covenant FURTHER INFORMATIONMULTI-LET BUSINESS PARK INVESTMENT OPPORTUNITY TOLLGATE COURT BUSINESS PARK
TOLLGATE DRIVE, STAFFORD, ST16 3HS
COVENANT
De Dietrich Process Systems UPVC Distributors Ltd
De Dietrich Process Systems is a leading global provider of Process Established in 1988, and trading as National Plastics, the company
Equipment, Engineered Systems and Process Solutions for the fine are a specialist supplier of building plastics and the largest
chemical, chemical and pharmaceutical industries. independent trade counter in the UK, with 29 depots and an online
distribution network covering the whole country.
The company recorded a turnover of over £6.4m, a profit of
£257,000 and a net worth of £329,000 for year ending December The company reported a turnover of over £15m, a loss of £756,000
2016. and a net worth of £446,469 for the year ending December 2016.
The company was established by the Dietrich family in France 1st Call Mobility
over 3 centuries ago and today has a strong global presence, with 1st Call Mobility specialize in the sale and hire of Bariatric Products
offices located in fifteen countries. and has grown over the years to have the largest range of Bariatric
Products available in the UK. The company were recently acquired
Storage Boost and now form part of The Getinge Group who are a global provider
Storage Boost is a storage company with 3 modern facilities in of solutions for operating rooms, intensive-care units, Hospital
Stafford, Crewe and Chester. The firm has been established since wards, sterilization departments, elderly care and for life science
2005 and serves both domestic and commercial clients. companies and institutions.
The company are a local covenant with a net worth of over £62,931 The company reported a turnover of £8.5m, a profit of over £4m
for the year ending January 2017. and a net worth of over £7.6m for the year ending December 2016.
TD Service Centre Autoline Accessories Ltd
Vehicle service centre offering a wide range of services including Autoline Accessories are a specialist part and accessory retailer
MOT, Service and general vehicle maintenance and repair. and distributor.
The company reported a net worth of over £210,000 for the year
ending October 2016.
HOME INVESTMENT SUMMARY AERIAL LOCATION SITUATION DESCRIPTION Accommodation TENANCY covenant FURTHER INFORMATIONMULTI-LET BUSINESS PARK INVESTMENT OPPORTUNITY TOLLGATE COURT BUSINESS PARK
TOLLGATE DRIVE, STAFFORD, ST16 3HS
ERV / ASSET Management
Proposal Average passing industrial rents at Tollgate Court are very low at £4.18 per
sq ft and are at a significant discount to prime industrial rents in the Stafford
We are instructed to seek offers of £4,750,000 (Four Million, Seven Hundred and Fifty
area which are currently £6 per sq ft. When considered alongside the low
Thousand pounds). Assuming standard purchasers costs of 6.58% a purchase at that level
passing rents in the business centre of £8.05 per sq ft, we believe the
reflects:
estate is reversionary with a current ERV of £495,689.
Net Initial Yield - 7.79%
Reversionary yield - 9.79% The estate also offers an investor a number of asset management
Capital Value (Per sq ft) - Office - £80.00 psf opportunities to improve the estate and its income as follows:
- Industrial - £46.76 psf
• Re-letting of Unit 2 at a premium rent
• Let part or all of the office on traditional terms, increasing net lettable
area and overall rental levels
• Lease additional car spaces / yard area to new / existing tenants
• Extension of Unit 2 on land alongside Sandon Road
• Improved signage / branding
Further Information
For further information or to arrange an inspection please contact:
Oliver Rowe
DD: 0161 819 8212 E: oliver.rowe@avisonyoung.co.uk
Dan Crossley
DD: 0161 819 8221 E: daniel.crossley@avisonyoung.co.uk
Kipp Harden
DD: 0161 507 4714 E: kipp.harden@avisonyoung.co.uk
vat EPC Tenure Misrepresentation Act 1967. Unfair Contract Terms Act 1977 The
Property Misdescriptions Act 1991. These particulars are issued
We understand that the property has been elected for VAT which An EPC report is available Freehold.
without any responsibility on the part of the agents and are not to
be construed as containing any representation or fact upon which
will therefore be chargeable on the sale. on request.
any person is entitled to rely. Neither the agents nor any person in
their employ has any authority to make or give any representation or
warranty whatsoever in relation to the property. February 2108. RB&Co
0161 833 0555. www.richardbarber.co.uk
HOME INVESTMENT SUMMARY AERIAL LOCATION SITUATION DESCRIPTION Accommodation TENANCY covenant FURTHER INFORMATIONYou can also read
