Dean Road Trading Estate, Avonmouth, Bristol, BS11 8AT

Transcription

1 Freehold Industrial Investment Dean Road Trading Estate, Avonmouth, Bristol, BS11 8AT Multi Let Industrial investment opportunity

2 Dean Road Trading Estate, Avonmouth, Bristol, BS11 8AT Royal Portbury Dock A J ct 1 8 Proton Cars CHEP Avonmouth Dock Keuhne & Nagel Nisbets Royal Edward Dock Richard Austin Alloys Budget Greeting Cards ASDA A 40 Accolade Wines 3 Investment Considerations The Property Severnside Trading Estate Honda Freehold Established industrial estate Located in the heart of Avonmouth industrial area Redevelopment potential Large site of 6.48 acres with low site cover of 24% Total accommodation area of 64,021 sq ft (5,947sq m) and 38 HGV parking bays Passing rent of 308,691 per annum We are instructed to seek offers of 3,300,000 (Three Million Three Hundred Thousand Pounds), subject to contract and exclusive of VAT, which reflects an attractive net initial yield of approximately 8.84%, with a reversion to 9.87% after purchaser s costs of 5.80%. A purchase at this level reflects a low capital value of approximately 50 per sq ft.

3 Location Bristol is the largest city and most significant distribution location in the South West. The city is located approximately 118 miles (190 km) west of London, 88 miles (142 km) south of Birmingham and 44 miles (71 km) east of Cardiff. Bristol benefits from excellent road links being situated close to the intersection of the M4, and M49 motorways. The links the south of the city to Exeter and Cornwall and Birmingham to the north. The M4 links Cardiff to the west and London to the east. The M49 joins the at Junction 18 and provides a link to the M4 at Junction 22. Bristol is an important industrial location and distribution centre, acting as a gateway to the South West and Wales while providing comprehensive links to the Midlands and London. Bristol benefits from excellent road, rail, sea and air transportation links. Bristol International Airport is located approximately 9 miles (14 km) south of the city, accessed via the A38. Bristol has two mainline railway stations, Bristol Temple Meads and Bristol Parkway, with a journey time to London Paddington of approximately 90 minutes. M4 DIFF Newport A455 A449 A38 M48 BRISTOL A37 A48 AVONMOUTH BRISTOL Glastonbury A37 GLOUCESTER A40 A46 A361 M4 BATH St. Andrew s Road Avonmouth Frome A433 St. Andrews Road A403 Smoke Chippenham Lane A350 A420 Cirencester Poplar Way W Merebank Road A346 A40 SWINDON SALISBURY R Kings Weston Lane Chittening Severn Road M49 A420 M4 A44 OXFORD A338 A34 Andover B4057 B4059 OXFORD Newbury Winchester M49 Hallen Road Kings Weston Road M3 A41 A33 A418 B Ayles M40 High M READING Station Road B4055 Henbury Road Al Farn A31 A4018 Passage Road B4054 Shirehampton Hig h Street A4 Portway A4162 Sylva n Way Falc ondale Road

4 Dean Road Trading Estate, Avonmouth, Bristol, BS11 8AT El Sub Sta 111c Sluice 111b Situation 311 DEAN ROAD 303a b Dean House 8 111a BURCOTT ROAD 202a 202b 202c 202d k 114 Avonmouth is located approximately 8 miles (13 km) north west of Bristol City Centre, accessed via Junction 18/18A of the motorway. The M4/ interchange is around 6 miles (10 km) to the north east and Avonmouth Dock is within 0.5 miles (1 kilometre) and Portbury Dock is within 2 miles (3 km) of the estate. The estate is located on Dean Way which is accessed via Burcott Road and links to the A403 (St Andrews Road) one of the principal arterial roads offering quick access to the to the 1.9 miles (3 km) from Junction 1 of the which provides access to the M4 (Junction 22) and South Wales. The property is situated between Cabot Park and Access 18 Avonmouth s newest industrial scheme. Major occupiers in the immediate vicinity include; Costco Wholesale, John Lewis, CO-OP, Nisbets, Constellation Europe, Honda, Keuhne & Nagel, Superdrug and Robert Wiseman Dairies. Dean Road Trading Estate 116 Description 0m 25m 50m 75m 6 5 Drain 1 203a 203b The property occupies a large secure industrial estate with part of the service yard utilised for HGV trailer parking and secure open storage. The industrial / warehouse units are configured as 9 individual units arranged in 2 terraces providing a total GIA of approximately 60,663 sq ft (5,635 sq m) and an additional two storey office building providing a NIA of approximately 3,358 sq ft (312 sq m). The secure yard area provides a designated HGV parking bays for 38 vehicles. The industrial units are steel portal frame with part brick construction, part steel clad elevations rising to a pitched roof. Internally the units benefit from concrete floors, roller shutter doors and a minimum internal eaves height of 5.0m. Crown Copyright, ES For identification purposes only. M

5 Development potential In our opinion the site has potential for further development owing to the low site cover. Draft plans have been prepared which incorporates the construction of 6 further units to the site, details are available on request. Site The estate comprises a site of approximately 6.45 acres (2.61 hectares). This provides a low site cover approximately 24%. Tenure Freehold EPC EPC s are available on request. VAT We understand the property has been elected for VAT and therefore VAT will be chargeable on the purchase price. We anticipate that the transaction will be treated as a transfer of a going concern (TOGC).

6 Tenancies & Accommodation Unit Tenant Lease Start Lease End Area Sq ft Area Sq M Parking Spaces Passing Rent psf ERV psf Comments Industrial 1 Clipper Logistics Group Ltd 17/02/ /02/2016 9, , , Service charge cap of 2,500 p.a. 2 Sharps Brewery Ltd 01/10/ /09/2019 6, , , TOB 01/06/15, Schedule of condition 3 Riverford Organic Vegetables Ltd 01/11/ /10/2019 5, , , TOB on 01/11/2017 at any time 6 months notice, Schedule of condition. 4 U/o to Norbert Dentressangle 29/09/ /09/2017 4, , , TOB 30/06/2016, Schedule of condition 5 Avonmouth Brake Centres Ltd 26/03/ /03/2016 4, , , Lloyd Fraser Ltd 15/03/ /03/ ,610 1, , , Schedule of condition 8A Harrow Green Ltd 01/01/ /06/2014 4, , , Schedule of condition 8B F.P. & S. Parts & Service Ltd 26/04/ /04/2019 2, , , C P.J. Murphy 01/03/ /02/2016 3, , , Sub total 60,663 5, , ,041 offices 1 J.D. Morgan Transport Ltd 01/03/ /02/ , , Aquatonics UK Ltd 01/11/ /10/2017 1, , , Inclusive of service charge 3 Harrow Green Ltd 01/05/ /04/ , , Vacant , Security 2000 Ltd 01/01/ /12/2017 1, , , Landlord's Store Vacant , Sub total 3, ,330 14,400 yard 1A Norbert Dentressangle Logistics Ltd 29/09/ /09/ ,000 25, acres, 22,500 until 31/12/14. TOB 30/06/2016 Compound Clarks Bros Scaffolding 01/06/ /05/ ,000 12, acres, 10,000 until 31/05/15 GF Portacabin Landlord's Store ,500 1st Portacabin Management/Security Office ,500 Sub total 37,000 40,000 hgv spaces 1-3 County Tyres 01/01/ /12/ ,600 3,600 4 B D Shore 01/10/ /09/ ,200 1,200 5 Scrivin Logistics 01/01/ /12/ ,200 1,200 6 Norbert Dentressangle Tankers Ltd 01/07/ /06/ ,200 1,200 Renewing 7-8 Harrow Green Ltd 01/05/ /04/ ,400 2, Carlyne Transport 01/10/ /09/ ,800 4,800 Renewing 13 Fire Assembly Point Morgan Transport 01/10/ /09/ ,400 2,400 Renewng Hemmens Transport 01/12/ /11/ ,400 2, Byrnes Transport 01/12/ /11/ ,200 1, Clipper Logistics Group Ltd 12 Included in Unit 1 lease Norbert Dentressangle Transport 01/12/ /11/ ,000 6, B McDanagh 01/04/ /03/ ,400 2, Jason Scrivin 01/01/ /12/2014 1,200 1, West Haulage Ltd 01/06/ /05/ ,200 1,200 Sub total 31,200 31,200 TOTAL 308, ,641

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8 Dean Road Trading Estate, Avonmouth, Bristol, BS11 8AT Proposal We are instructed to seek offers of 3,300,000 (Three Million Three Hundred Thousand Pounds), subject to contract and exclusive of VAT, which reflects an attractive net initial yield of approximately 8.84%, with a reversion to 9.87% after purchaser s costs of 5.80%. A purchase at this level reflects a low capital value of approximately 50 per sq ft. For further information or to make arrangements for viewing please contact: Iain Biddlestone ijb@haarergoss.co.uk Alex Butler alex.butler@allsop.co.uk Mark Dansky mark.dansky@allsop.co.uk Misrepresentation Act: 1. Allsop LLP and Haarer Goss on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop and Haarer Goss is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop or Haarer Goss nor any of their members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Haarer Goss is the trading name of Haarer Goss LLP. Design: CommandD