PRIME INVESTMENT OPPORTUNITY PROMINENT LOCATION FRONTING A38

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1 PRIME INVESTMENT OPPORTUNITY PROMINENT LOCATION FRONTING

2 investment summary Multi-Let Industrial Estate situated in Birmingham, the UK s second largest city. Prominent frontage to Aston Road/Aston Expressway (M) which connects directly to Junction 6 of the M6 Motorway approximately 1.5 miles to the north. A five unit estate extending to approximately 42,198 sq ft (Gross Internal Area) The estate is let to five tenants including Wolseley UK Ltd and Hilti (GB) Ltd Net income of 191,675 per annum which equates to an average passing rent of 4.54 per sq ft. Excellent income profile with AWULT of 4.05 to break and 6.62 to renewal. Attractive lot size of 2,196,000 reflecting a net initial yield of 8.25%.

3 Location Birmingham lies at the heart of the West Midlands and is the most populous city outside of London within the UK. The city lies approximately 125 miles (200 kilometres) north west of central London and 86 miles (137.6 kilometres) south of Manchester. Birmingham sits on the edge of the golden triangle in the Midlands Region and is one of the UK s key industrial cities. Birmingham is at the centre of the UK s national motorway network. The M6, M5 and M42 form an orbital around the city and in turn provides access to the wider national motorway network. The city benefits from two mainline rail stations (Birmingham New Street and Birmingham International) providing direct trains to London in approximately 80 minutes. Birmingham International Airport is located 10 miles (16 kilometres) south east of Birmingham city centre. WOLVERHAMTON A4123 A A M5 4a 4 1 M6 1 2 M A5127 A41 A4040 A422 A435 A441 2 M42 BROMSGROVE A442 REDDITCH DROITWITCH SUTTON COLDFIELD BIRMINGHAM 6 5 A34 3a A4097 4a M6 5 M42 4 A3400 M a 7 M A41 SOLIHULL SAT NAV: B6 4EX A41

4 PHILLIPS STREET THOM Situation Aston Expressway Industrial Estate is strategically situated fronting Aston Road/Aston Expressway (M). Aston Road connects directly to Dartmouth Circus which forms part of the Birmingham Middle Ring Road (). The Birmingham Middle Ring Road provides direct access to all main arterial routes running in and out of Birmingham City Centre. The (M) Aston Expressway gives direct access to Junction 6 of the M6 motorway approximately 1.5 miles distant. Birmingham City Centre is approximately 1 mile to the south of the Estate. Notable local occupiers include Screwfix, Toolstation, Jewson, Travis Perkins, Big Yellow Storage, Matalan and Wolseley. EET PRITCHETT STREET EET CIL STREET A34 B4114 ST. STEPHENS STREET MILLLER STREET BLEWS STREET BREWERY ST. B4114 ELKINGTON STREET BAGOT STREET BRACEBRIDGE STREET HOLT S TREET A5127 ASTON BRIDGE A5127 ASTON ROAD LISTER ST. RICHARD CHESTER STREET STREET LORD STREET B4133 ASTON ST. B4133 SAT NAV: B6 4EX

5 Description The Estate was constructed in the late 1980s and comprises of five industrial/warehouse units arranged in two blocks. The eastern block consisting of Units 3&4 benefit from excellent prominence to Aston Road/Aston Expressway (M). The Unit sizes range from 6,916 sq.ft. to 11,338 sq.ft. The Units are of steel portal frame construction which are clad with brick and block work walls with pitched roofs incorporating intermittent translucent roof lights. Each unit benefits from at least one level access door and a minimum eaves height of approximately 5 metres. Internally the Units provide for ancillary office accommodation at ground and first floor level and externally each unit has its own dedicated parking and service areas. The Estate is fully secured with a gated entrance accessed from Pritchett Street.

6 Site The site area is approximately 1.38 acres (0.56 hectares). This equates to a site cover of approximately 70%. Accommodation UNIT Sq ft Sq m Unit 1 8, Unit 2 6, Unit 3 8, Unit 4 6, Unit 5 11,338 1, Total 42,198 3, TENANCY SCHEDULE Unit Size Tenant Rent Lease From To Break Review Comments Unit 1 8,755 Wolseley UK Ltd 39,400 Unit 2 6,946 Goliath International Tools Ltd 29,525 Unit 3 8,243 TCC (UK) Ltd. 41,500 Unit 4 6,916 Hilti (GB) Ltd 32,500 Unit 5 11,338 The Little Bag Company (Retail) Ltd. 48,200 5 Year 5 Year 12 Year 15 Year 10 Year n/a n/a n/a n/a n/a n/a n/a n/a n/a st 20 months at 1/2 rent - Year 1 rent 20,750, Year 2 rent 27, Rent Deposit of 3 months headline rent & Vat Rent to is 32,133 pax - 6 months rent free will be granted at Year 6 if break option is not exercised Camera on Unit 3 n/a iled Solutions LLP 550 Rolling Licence Open ended Mutual - 1 months notice n/a n/a Total 42, ,675 All rent free periods will be paid over and stepped rents topped over so passing rent is 191,675 from Completion

7 Tenure The property is held freehold. Service Charge The service charge budget for the period to was 6,544. This reflects a cost of per sq ft. Further details are available upon request. Covenant Information Wolseley UK Ltd - Wolseley is the world s largest trade distributor of plumbing and heating products and a leading supplier of building materials. The company had a turnover of 1.63 billion for the year 2013 and a tangible net worth of 557 million. Goliath International (Tools) Ltd - The Goliath group of Companies was established in 1952 and is one of Europe s leading manufacturers and suppliers of High Speed Steel (HSS) Taps & Dies. As of 2012 the company had a tangible net worth of million. Hilti (GT.BRITAIN) Ltd - Hilti provides leading-edge technology to the global construction industry. They employ 20,000 staff in more than 120 countries around the world. Founded in 1941, the worldwide Hilti Group evolved from a small family company. The company in 2012 had a turnover of million and a tangible net worth of 9.4 million. The Champagne Co (UK) Ltd The Champagne Company are wine and spirit wholesalers. The Little Bag Co (RETAIL) Ltd The Little Bag Co, operate their head office from Aston Expressway supplying 9 stores across the Midlands. The company started in 2012 has been going through rapid expansion. Latest accounts filed show a net worth of 80,000. VAT All figures quoted are exclusive of any VAT. The vendor confirms that the Estate is elected for VAT and it is envisaged that the estate will be sold as a transfer of a going concern. EPC UNIT ENERGY PERFORMANCE RATING E (105) F (129) F (139) D (78) F (136) Proposal We are instructed to seek offers in excess of 2,196,000, exclusive which reflects a net initial yield of 8.25% assuming full purchaser s costs of 5.8%. A purchase at this level reflects a very low capital value of 52 per sq ft. Further Information For further information please contact the joint agents Thomas Morley Christian Smith IMPORTANT. These particulars do not form part of any contract. Neither Agents, are authorised to give or make any warranty or representation on behalf of any party. Whilst information and particulars are given in good faith intending purchasers or tenants must satisfy themselves independently as to the accuracy of all matters on which they intend to rely. SUBJECT TO CONTRACT May 2014 Designed & produced by