Horton Road Industrial Estate

Transcription

1 Horton Road Industrial Estate West Drayton Middlesex UB7 8JL Multi-Let Industrial Investment Opportunity

2 Central London Hayes & Harlington Station London Heathrow Airport Stockley Park West Stockley Park East Drayton Garden Village 31 acre residential development comprising 800 new homes, 80 bed care home, office and retail. Subject Property M25

3 Investment Considerations West London multi-let industrial investment opportunity located in a prominent position close to Stockley Park. Freehold site extending to 1.85 acres (0.74 ha) The property comprises 39,077 sq ft (3,630 sq m) of light industrial accommodation arranged over 14 units Passing rent of 289,756 per annum, equating to a low base rate of 7.41 per sq ft. Proposed Crossrail destination at Hayes and Harlington Railway Station, approximately 3 miles to the east Asset management opportunities The property benefits from a low vacancy rate of 2.8%. Offers are sought in excess of 3,910,000 (Three Million Nine Hundred and Ten Thousand Pounds). Assuming usual purchaser s costs of 5.8%, a purchase at this level reflects a net initial yield of 7%, a Capital Value of 100 psf.

4 hame A4010 A404 Berkhamsted A41 Hemel Hempstead Chesham J20 J19 St Albans M10 A414 J21 Hatfield Potters Bar M25 Watford A1 Enfield High Rickmansworth M1 M11 A355 A413 South Wycombe Billericay Oxney Brentwood J28 0 Harefield Wic Harrow A10 A127 Ruislip Brent A12 J29 A404 J16 Romford Basildon Cross Uxbridge Wembley Henley-on-Thames A40 Maidenhead WEST DRAYTON Slough LONDON A13 M25 Stanford-le-Hop A404(M) London J15 City Windsor Fulham Hounslow A2 Heathrow ADING Richmond Clapham Dartford A316 A329(M) Staines Gravesend J2 A20 Wokingham Bracknall Egham Ashford Kingston Upon Thames Ascot J12 A309 A3 A23 Bromley Swanley A322 M3 J3 Rochester Walton-on-Thames Croydon Bagshot A232 A21 M2 M25 M25 M20 Sandhurst Epsom Sutton Shoreham Snodland J10 Woking A217 Biggin Hill A22 J9 J5 M26 M20 M3 Famborough Sevenoaks Fleet A331 A3 M25 Maidston J8 J7 J6 Oxted Aldershot GUILDFORD Reigate A26 Dorking Redhill Famham A21 A24 Tonbridge KE Location Harpenden J23 Borehamwood West Drayton is a mixed commercial and residential area located in South Uxbridge within the north-west M25 quadrant, approximately 18 miles west of Central London, 3.5 miles north of Heathrow Airport and 27.5 miles north east of Reading. Uxbridge is considered to be one of the principal commercial centres in the UK and is home to a thriving business community and affluent population. As a result of the town s excellent transport communications and skilled labour force, Uxbridge has attracted an array of corporate occupiers including; Xerox, Coca Cola, Hertz, Amgen Pharmaceuticals and Nexen Petroleum. Welwyn Garden City Hertford J25 A414 M11 Harlow Epping M25 J27 Chipping Ongar Chelmsford A138 A414 West Drayton benefits from excellent road communications with the (Junction 4) located approximately 1.5 miles south via the A408 Stockley Road which in turn leads directly to the M25 (Junction 15). The area is served by both West Drayton and Hayes & Harlington railway stations which both provide regular services to Oxford, Reading and Central London with typical journey times to London Paddington being less than 25 minutes. The area is also set to benefit from the development of crossrail in t Sunnymeads A412 Langley Situation Iver Heath Iver Iver Richings Park Colnbrook M25 J15 A3113 A4007 B470 A408 Heathrow-T5 Uxbridge The site is accessed from Horton Road which provides the main thoroughfare between Yiewsley, West Drayton, Stockley Park and Hayes, whilst also providing direct access to Stockley Road (A408). As well as being an established industrial centre, Horton Road is the focus for a number of major retailers and car dealerships including Screwfix Direct, BMW (Mini) and Telsa. Other surrounding occupiers include; John Guest Limited, Toolstation, Pilkington Automotive and HSS Hire. B483 West Drayton A4 Heathrow-T1-3 Hillingdon HEATHROW Heathrow-T1-2-3 A437 Horton Road Industrial Estate A408 Heathrow-T4 A437 A4020 Hayes & Harlington Hatton Cross A312 Southall A30 Hounslow West Approximately 0.5 miles east of the subject property is Stockley Park which is considered to be one of the UK s leading business parks providing over 1.74 million sq ft of prime office accommodation. Northolt

5 Crossrail Stratford Forest Gate Ilford Goodmayes Romford Harold Wood Shenfield Taplow Slough Iver Hayes & Harlington Hanwell Ealing Broadway Bond Street Farringdon Whitechapel Maryland Manor Park Seven Kings Chadwell Heath Gidea Park Brentwood Maidenhead Surface line Tunnel Portal (tunnel entrance and exit) Burnham Langley WEST DRAYTON Heathrow Airport Southall West Ealing Acton Paddington Tottenham Main Line Court Road Liverpool Street Canary Wharf Custom House Woolwich Abbey Wood 8 mins 20 mins 25 mins 28 mins 31 mins 34 mins 37 mins From West Drayton > Heathrow Airport > London Paddington > Tottenham Court Road > Farringdon > London Liverpool STreet > Whitechapel > Canary Wharf Site The property comprises a site area of 1.85 acres (0.74 hectares) which provides a site coverage of approximately 48.45%. Crown Copyright, ES For identification purposes only.

6 Description The property comprises a multi let industrial estate of 14 units totalling 39,077 sq ft (3,630 sq m). The individual units range from 1,106 sq ft (102 sq m) to 5,736 sq ft (532 sq m). The units are arranged over three terraces which run adjacent to the western and southern boundaries of the site. The largest terrace, situated to the northern end of the site, comprises 14 industrial units of brick construction with a double pitched roof. Each unit provides an office/ reception area to the front with light industrial space to the rear benefitting from skimmed concrete floors, c. 3 metre eaves and roller shutter door access. The two terraces to the rear of the site comprise four units of steel portal frame construction with steel clad elevations and, mix of steel and asbestos pitched roofs. The units benefit from c. 4 metre eaves, skimmed concrete flooring and roller shutter access. All units benefit from designated parking to the front of the units and a communal parking area situated to the centre of the site.

7 Tenancy Schedule Service Charge Unit Ref Tenant Name Area sq m Area sq ft Rent p.a. Rent psf Lease Start Lease Expiry Comment The service charge budget for the current financial year ending 31/03/2015 is 32,868 equating to 0.84 per sq ft. HI.03 The Good Food Company of Harefield Ltd ,561 15, /11/ /11/2016 Contracted out of 1954 Act HI.03A Pinnacle Joinery Ltd ,356 21, /02/ /02/2017 Contracted out of 1954 Act HI.03B Generation (UK) Ltd ,852 28, /07/ /04/2018 Next Rent Review 18/7/17 HI.04 The Good Food Co. of Harefield Ltd ,736 40, /01/ /01/2014 Section 25 served HI.05A The Good Food Co. of Harefield Ltd ,662 25, /01/ /01/2014 Section 25 served HI.05B John Charles Potter ,109 20, /12/ /12/2015 Rolling break subject to 6 months notice HI.05C Carmal Autocenter Ltd. & Fadia Mohamed ,467 16, /09/ /09/2014 HI.05D A1 Cooked Meats Ltd ,667 20, /12/ /12/2013 Section 25 served Rolling break subject to 3 months notice Section 25 served HI.08 Generation (UK) Ltd ,920 37, /04/ /04/2018 Next Rent Review 9/4/16 HI.09A Vacant ,106 11, Vendor to provide 1 year rental gaurantee HI.09B The Good Food Company of Harefield Ltd ,200 16, /12/ /11/2013 Notice served to vacate 8 April 2015 HI.10A Aero Cargo (UK) Ltd ,416 16, /02/ /01/2015 HI.10B/C Kazpac Packaging Ltd. & Hussain Kazi ,025 19, /09/ /09/2015 Sub Station Southern Electric Plc 1 24/03/ /03/2016 Total 3, , , Non Recoverables The current vacancy rate is 1,106 sq ft, equating to 2.8% Service Charge Rates 4, Total 5, Covenant Generation (UK) Limited Experian Rating: 100 (Very Low Risk) D&B: Tbc Turnover 68,951,000 Pre-Tax Profit 9,518,000 Total Net Worth 35,078,000 The Good Food Company of Harefield Limited Experian Rating: 82 (Low Risk) D&B: Tbc Turnover Pre-Tax Profit n/a n/a Total Net Worth 412,322 Tenancies as at 02/02/2015.

8 EPC The property has been rated D on the EPC scale (82-100). EPC certificates available upon request. VAT The property is elected for VAT purposes and therefore VAT will be payable by the purchaser, unless the sale is structured as a TOGC. Tenure Freehold. Proposal Offers are sought in excess of 3,910,000 (Three Million Nine Hundred and Ten Thousand Pounds). Assuming usual purchaser s costs of 5.8%, a purchase at this level reflects a net initial yield of 7%, a Capital Value of 100 psf. For further information or to make arrangements for viewing please contact: Scott Tyler scott.tyler@allsop.co.uk Guy Scott Plummer guy.scott-plummer@allsop.co.uk James Salmon james.salmon@allsop.co.uk Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP 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 LLP nor any of its 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. Design: CommandD