WINDER POWER LIMITED GRANGEFIELD HOUSE, RICHARDSHAW ROAD, GRANGEFIELD INDUSTRIAL ESTATE LEEDS LS28 6QS

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1 On the instructions of AXA Real Estate WINDER POWER LIMITED GRANGEFIELD HOUSE, RICHARDSHAW ROAD, FOR SALE WELL LET FREEHOLD INVESTMENT

2 INVESTMENT SUMMARY Well specified high quality production unit constructed 2002 totalling approximately 7,380.5 sq m (79,441 sq ft) Prominent location, with frontage to the Ring Road, on one of the principal industrial estates of Leeds Let to Winder Power Limited a manufacturing company established for over 100 years Lease 10.5 years unexpired Site area 2.08 hectares (5.14 acres) site cover only 34% Price 3.4 million subject to contract and exclusive of VAT Current rent 350,000 pa ( 4.41 psf) Net initial yield 9.73% Low capital value per sq ft 42.80

3 LEEDS MANUFACTURING ECONOMY Leeds is the UK s second largest manufacturing centre outside London, with 1,815 manufacturing companies employing over 36,000 people, 8.6% of total employment in the city. The manufacturing sector generates 10.8% of Leeds total economic output of over 15 billion a year. Approximately 50% of the UK s manufacturing base is within a two hour drive of Leeds. In the Leeds City Region 152,000 people are employed in manufacturing. A strong manufacturing culture exists within the city supported by a large and skilled workforce able to adapt to the rapid technological advances driving the industry. Manufacturing activities include specialised engineering, print, food and drink manufacture, chemicals and medical technology. Most Leeds manufacturing companies are small to medium sized, in many cases world leaders in their respective fields. They play a key role in the city s economic life, adding diversity and vitality and ensuring Leeds fortunes are not dependent on individual industries or employers. Manufacturers based in Leeds include Moores Furniture Group, Yorkshire Post Newspapers, AETC, Cameron, Lever Faberge, Schneider Electric, Sulzer (UK) Pumps Ltd, DePuy International, Arla Foods, Wabco Automotive and Communisis. Source: Making it in Leeds and Leeds City Council Local_economy_report_and_forecasts.aspx

4 Guiseley A65 Leeds/Bradford Airport A657 BRADFORD M606 A A650 A658 Cleckheaton Manchester /the West A6120 A647 Pudsey M62 Dewsbury Horsforth THE PROPERTY A61 A65 A660 Headingley A58 A6120 Seacroft Kirkstall A64 A6110 LEEDS Cross 3 Green Hunslet M621 Batley Morley 28 London /the South M62 Garforth A63 LOCATION The city of Leeds is located near the geographical centre of the UK and is well established as Yorkshire s largest commercial centre serving the North & North East of England. Leeds is the second largest metropolitan district in England with a 30 minute drive time population of two million people. The city is located approximately 316km (200 miles) north of London, 350km (220 miles) south of Edinburgh, 71km (44 miles) north east of Manchester, and 99km (61 miles) west of Hull. The city benefits from excellent road communications via Junctions 1 to 7 of the M621 motorway, Junctions 44 to 46 of the M1 motorway and Junctions 27 to 30 of the M62 including the intersection of the M1 and M62 to the south of the city providing efficient journeys to the East and West via the M62 and to the North and the Midlands via the M M1 A6120 M WAKEFIELD M1 46 A64 Hull/A1 For identification purposes only. Leeds enjoys fast rail links to London (Kings Cross) with a journey time of approximately 2 hours and two trains per hour during peak periods. Leeds / Bradford Airport is located some 6 miles north of the city and serves both international and domestic destinations. SITUATION THE PROPERTY The property is situated on the established Grangefield Industrial Estate in an extremely prominent position fronting the Stanningley Bypass part of the Leeds ring road (A647) approx 5 miles west of Leeds City centre. Junction 1 of the M621 5 miles to south east via the A647 provides access to the region s motorway network. Occupiers on the estate or close by include Vickers, UPS, Bestway, Britvic and Andrew Page. The estate is well served by a good labour supply and public transport communications. The Owlcotes Shopping Centre (Asda and Marks and Spencer) is within half a mile to the west.

5 DESCRIPTION The property was completed in September 2002 and comprises a single storey production facility in two bays with integral two storey offices and ancillary accommodation. Steel portal frame Brick / blockwork elevations to height of 2.13m (7 ft) insulated plastic coated profiled cladding above Roof insulated plastic coated profiled cladding with approximately 20% translucent roof lights Clear eaves height 7.9m (26 ft) 4 roller shutter loading doors under a full width canopy High level sodium lighting and gas fired space heaters to warehouse CCTV system external and internal cameras Multi zoned fire alarm and smoke detection system External compressor house Secure site with palisade fencing, entry barrier and security gatehouse Concrete service yard 68 space car park High quality offices with VRV comfort cooling cassette units, perimeter trunking, gas fired central heating, suspended ceilings, carpeting and double glazed windows ACCOMMODATION Floor Description Sq m Sq ft Ground Workshop 6, ,772 Ground Reception, Works Offices, Staff Canteen / Kitchen, WC s ,270 First Offices, Conference Room, Kitchen, WC s ,399 Total Gross Internal Floor Area 7, , car spaces. Site area 2.08 hectares (5.14 acres). Site cover 34%. TENURE Freehold.

6 TENANCY The property is let to Winder Power Limited for 15 years on FRI terms from 27 September 2007 expiring 26 September 2022 (circa 10.5 yrs unexpired). The current rent is 350,000 pax with open market rent reviews on 27 September 2012 and 27 September TENANTS COVENANT Winder Power Limited (Company Number ) was established over 100 years ago and specialises in the design and manufacture of power generation and electrical equipment. This property is Winder Power's only UK manufacturing facility and one of the most modern transformer manufacturing plants in Europe. Within the group there are two separate divisions. Winder Electrical is a specialist in the design, test, build, deployment and management of power systems from distribution transformers and switchgear for offices and factories to large scale transformer applications for major blue-chip companies. Newton Derby is a designer, manufacturer and supplier of specialist generators for the rail, military, aviation and power generator sectors. Products include high frequency alternators, permanent magnet generators and synchronous machine exciters, designed and produced to high quality standards for demanding environments. The company s website address is Customers include Amec, Edf Energy, Northern Ireland Electricity, Scottish & Southern Energy, Scottish Power, Transport for London and Converteam Power Conversion Company. Recent announcements include: Winder Electrical securing an 8 million five year contract with Scottish and Southern Energy to supply Continuous Emergency Rated and non Continuous Emergency Rated transformers for both the Scottish and Southern regions. Newton Derby securing a contract to supply exciters for two new UK Royal Navy aircraft carriers HMS Queen Elizabeth and HMS Prince of Wales expected to enter service in 2016 and For the year ending 31 March 2011 Winder Power Limited had a turnover of 10,384,812, pre-tax profits of 941,505 and shareholders funds of 2,875,514. The company has an Experian Financial Stability Assessment of A Very Low Risk (confidence) An extract from the Chairman of Winder Power R W Asquith s statement within the latest accounts states It (Winder Power) has yet to experience the release of the significant capital spend programmes planned over the next three years by its major customers. Nevertheless, revenues have been maintained and margins grown and this has resulted in the increase of cash generation from 0.3m to 1.5m on the back of doubling the operating profit to over 1m. This places the company in its strongest financial position in its history VAT The property has been elected for VAT and it is anticipated the sale will be by way of a transfer of a going concern. PROPOSAL We are instructed to seek offers of 3,400,000 (three million, four hundred thousand pounds) subject to contract and exclusive of VAT for our clients freehold interest, reflecting an initial yield of 9.73% assuming purchasers costs of 5.8%. For further information please contact: David Nicholls DD: M: E: David.Nicholls@haguenicholls.com Important Notice Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on any statements by Hague Nicholls in the particulars or by word of mouth or in writing ( information ) as being factually accurate about the property, its condition or its value. Hague Nicholls has no authority to make any representation about the property and accordingly any information given is entirely without responsibility on the part of the agent(s), seller(s) or lessors(s). Photographs etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Any areas, measurements or distances given are approximate only. Any buyer must satisfy themselves by inspection or otherwise as to the correctness of any information given. February Designed and produced by Tel: Chartered Surveyors 4 Queen Street Leeds LS1 2TW T: