Advantage One. Modern Freehold Industrial Warehouse Investment Opportunity ENTER. Third Avenue, Bletchley Milton Keynes, MK1 1DR

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1 ENTER Modern Freehold Industrial Warehouse Investment Opportunity

2 Investment Summary An opportunity to acquire a modern freehold industrial investment located in Milton Keynes Let to Bitzer UK Ltd on full repairing and insuring terms from 4 January 2010 for a term of 10 years and there is a reversionary lease in place from 4 January 2020 to 3 January 2025 The current passing rent is 142,420 per annum ( 5.00 psf) Located on Denbigh West Trading Estate, a popular and established industrial area of Milton Keynes The estate is very accessible being less than 1 mile from the and less than 5 miles from J.13 and J.14 of the M1 Self contained modern detached industrial warehouse constructed in 2000 Modern industrial warehouse measuring 28,348 sq.ft (2,634 sq.m) with 6.2m eaves and 2 ground level full height loading doors Externally there is a secure and separately accessed loading yard The building sits on a total site area of 1.4 acres Freehold Offers in the region of 1.923,000 ( Million Nine Hundred and Twenty Three Thousand Pounds) subject to contract and exclusive of VAT reflecting an attractive NIY of 7.00% assuming purchaser s costs of 5.8%.

3 location Milton Keynes is one of the fastest growing commercial areas of the UK. A substantial part of this is down to it s highly accessible location being centred between London, Birmingham, Oxford and Cambridge. Central London can be reached in 35 minutes by train. Due to it s excellent road network, Milton Keynes is considered as a leading distribution location in the UK. The building is just off the, linking the area to J.13 and J.14 of the M1 (less than 5 miles away). Milton Keynes grid road network, many of which being dual carriageways, means that congestion is kept to a minimum. Milton Keynes is served by a number of International airports including London Luton (25 miles away), London Stansted (55 miles away), Birmingham International (66 miles), London Heathrow (54 miles) and East Midlands (71 miles). Milton Keynes Central Station is well connected with regular links to Birmingham New Street (55 minutes), London Euston (35 minutes) and Manchester Piccadilly (1 hour 38 minutes). Stony Stratford Nash Westcroft Loughton Tattenhoe Statonbury Newton Longville 09 MILTON KEYNES BLETCHLEY A4146 M1 Broughton A4146 Middleton Simpson A J14 A4146 Caldecotte Wavedon Little Brickhill Great Brickhill Woburn Sands Woburn Golf Club Woburn J13 Brogborough M1 Milton Bryan

4 location Milton Keynes is one of the fastest growing commercial areas of the UK. A substantial part of this is down to it s highly accessible location being centred between London, Birmingham, Oxford and Cambridge. Central London can be reached in 35 minutes by train. Granby Watling Street G rafton Street Milton Keynes Stadium Saxon Street Bond Avenue Due to it s excellent road network, Milton Keynes is considered as a leading distribution location in the UK. The building is just off the, linking the area to J.13 and J.14 of the M1 (less than 5 miles away). Milton Keynes grid road network, many of which being dual carriageways, means that congestion is kept to a minimum. Milton Keynes is served by a number of International airports including London Luton (25 miles away), London Stansted (55 miles away), Birmingham International (66 miles), London Heathrow (54 miles) and East Midlands (71 miles). Milton Keynes Central Station is well connected with regular links to Birmingham New Street (55 minutes), London Euston (35 minutes) and Manchester Piccadilly (1 hour 38 minutes). Whaddon Way BLETCHLEY Whalley Drive Whalley Drive Bletchley Park Sherwood Drive Denbirgh Road Third Avenue First Ave Denbigh North Bletcham Way James Way Saxon Str eet Mt Fram Park Watling Street Bletcham Way Fenny Stratford High Street

5 situation FIRST AVENUE Milton Keynes is a hugely significant location in the UK for distribution and logistics. Existing occupiers in the area include John Lewis, Coca-Cola, Tesco, Amazon and Kuehne Nagel. More than 45 million people can be reached within a 4.5 hour HGV drive time from Milton Keynes. Milton Keynes has been a significant success story for inward investment with than 500 firms opening offices in the city. The city is consistently ranked at the top of economic benchmarking surveys. In 2012, a report by Local Futures rated Milton Keynes as the most attractive local authority area in England for prospective business and investment. Experian also ranked Milton Keynes as the place with the best growth prospects for jobs and output for The property is located on Third Avenue, across the road from the Stadium MK development which includes IKEA, Asda and the DoubleTree by Hilton hotel. Denbigh West Industrial Estate 0m 25m 50m 75m

6 description Advantage is a modern detached industrial warehouse on a self-contained site. The unit was constructed in 2000 and comprises a steel portal frame construction with metal profile cladding above curtain walling and glazing to the areas of the warehousing. The warehouse is single bay with a 6.2m eaves and 2 ground level full height loading doors. The offices have been finished to a good modern standard and include suspended ceilings with CAT II lighting, carpets throughout, gas central heating and WC and kitchenette facilities. The building sits on a total site area of 1.4 acres with 42 car parking spaces to the front and side of the building, a secure concrete yard to the rear and a further 13 parking spaces.

7 accommodation & tenancy Accommodation Area (Sq Ft) Area (Sq M) Warehouse 22,920 2,129.1 Ground Floor Offices 5, Mezzanine Storage TOTAL 28,484 2,646.2 Site The site area extends to approximately 1.4 acres (0.57 ha) providing a site density of 46.7%. Tenure Freehold. Tenancy The property is let to Bitzer UK Limited for a term of 10 years from 4 January 2010 and there is a reversionary lease in place from 4 January 2020 to 3 January 2025 on full repairing and insuring terms. The current rent is 142,420 per annum ( 5.00 psf).

8 covenant Bitzer UK specialises in refrigeration and air conditioning technology. It has been established for over 80 years, is represented in more than 90 countries and employs over 3,400 people. Bitzer UK is part of the Bitzer SE Group, 5A 1 rated company based in Germany. Bitzer SE is one of the world leaders in refrigeration and air conditioning technology. In 2013 they reported a turnover of 621m EUR with a pretax profits of 37m EUR. Bitzer UK Ltd has a Dun and Bradstreet rating of 2A 1. A financial summary is provided below: 31/12/2014 th GBP 31/12/2013 th GBP 31/12/2012 th GBP Turnover 5,166 6,063 7,320 Pre-Tax Profit Net Worth 3,209 2,906 2,691 Net Current Assets (Liabilities) 3,371 3,264 3,335

9 additional information VAT The property is elected for VAT. EPC C73 PROPOSAL We are instructed to seek offers in the region of 1.923,000 ( Million Nine Hundred and Twenty Three Thousand Pounds) subject to contract and exclusive of VAT reflecting an attractive NIY of 7.00% assuming purchaser s costs of 5.8%. Contact Ashley Hudson T M E Ashley.Hudson@knightfrank.com Ben Wisher T M E Ben.Wisher@knightfrank.com Knight Frank LLP 1 Colmore Row Birmingham B3 2BJ misrepresentation IMPORTANT NOTICE (1) Particulars: These particulars are not an offer or contract, nor part of one. You should not rely on statements by Knight Frank LLP in the particulars or by word of mouth or in writing ( information ) as being factually accurate about the property, its condition or its value. Knight Frank LLP has no authority to make any representations about the property, and accordingly any information given is entirely without responsibility on the part of the agents, seller(s) or lessor(s). (2) Photos etc: The photographs show only certain parts of the property as they appeared at the time they were taken. Areas, measurements and distances given are approximate only. (3) Regulations etc: Any reference to alterations to, or use of, any part of the property does not mean that any necessary planning, building regulations or other consent has been obtained. A buyer or lessee must find out by inspection or in other ways that these matters have been properly dealt with and that all information is correct. (4) VAT: The VAT position relating to the property may change without notice. Knight Frank LLP is a limited liability partnership registered in England with registered number OC Knight Frank LLP registered office is 55 Baker Street, London, W1U 8AN, where you may look at a list of members names. Designed & produced by Zest Design & Marketing (01513) June 2015.