Prime Industrial Investment

Transcription

1 PLOT D (NORTH) 2 BRITTAIN WAY Prime Industrial Investment Eurocentral is at the heart of Scotland s distribution and logistics network. Excellent access to Scotland s motorway network. Modern purpose built facility extending to 20,253 ft² Let to Warburtons Limited, D&B 5A1, on full repairing and insuring terms expiring on 13th April Passing rent 141,512 per annum. Offers over 1.91 million (exclusive of VAT) are sought for the heritable interest in the property, reflecting a Net Initial yield of 7% after costs.

2 Eurocentral Junction 3 4 To Glasgow M8 2 1 To Edinburgh Tenants Next Scottish and Southern Energy ASC The Mentholatum Company Trac Sheffield Insulation Group Headlam Group DSV Hovis City Link James Letham Stobart Transport Nortbert Dentressangle Nortbert Dentressangle Stapleton Lightbody

3 BRITTAIN WAY BRIT Location Eurocentral has rapidly become Scotland s leading distribution location given its excellent transport links. Eurocentral fronts the M8/A8 and is accessed via its own dedicated motorway junction providing direct access east and west with Glasgow approximately 11miles west and Edinburgh 31 miles east. Access north and to the south is via the M73/M74 interchange, 3 miles to the west of Eurocentral. motorway network map M80 M8 8 GLASGOW M74 M73 TO STIRLING A8/M8 TO EDINBURGH M8 Eurocentral also benefits from a rail freight terminal providing access to the UK rail network as well as the Channel Tunnel the only location with such a link in Scotland. A730 J4 Uddingston J6 A724 J5 Situation Eurocentral comprises over 650 acres and is home to a many occupiers across a broad range of industries. The park has delivered over 1.5 million sq ft of high quality industrial and distribution space since its inception in 1995 and the strength of occupiers reflects the high quality of both location and building product. Occupiers include, Sheffield Insulation Group, TDG, FedEx, British Bakers, Scottish Power, SSE and Stobarts. Glasgow Southern Orbital A726 East Kilbride A725 Hamilton A723 J6 M74 TO CARLISLE Description The subjects comprise a modern bespoke industrial unit within a self contained site. The building was constructed for the tenant and the high level specification reflects their requirements. The building is of steel portal frame construction with composite cladding panelling to elevations and a barrel vaulted roof design. Internally the property comprises warehouse with single storey office accommodation with dedicated parking and a large yard area. The whole of the subjects are bounded by steel palisade fencing. eurocentral masterplan Mersen R Baillieston Junction (4 miles) Consarc landscaping Opalian News International Lagta WOODSIDE BUS landscaping Morrisons BUS Dakota Hotel Headlam JUNCTION PARKLANDS WAY SEPA TRAC GLASGOW (11 MILES), M8/M74/M73 & M80 PARKLANDS AVENUE ACS DOVECOTE ROAD MCNEIL DRIVE A8/M8 WOODHALL EDINBURGH (31 MILES) & M8 Morgan Sindall NCR WOODROW Scottish & Southern Energy Laing O Rourke mature woodland Next NEWHOUSE JUNCTION To Junction 6 SIG X MCNEIL DRIVE FedEx CODDINGTON CRESC V BUS A1 Automotive TOWNHEAD AVENUE Lighbody DSV/ 120 acres B799 PLOT D (NORTH) Stapletons 2 BRITTAIN WAY CONDOR Stobart Hovis Plot D (North), 2 Brittain Way, Eurocentral

4 Specification The specification of the property includes:- 10 ground level loading doors 2 dock level loading doors 5.65 metres to underside of haunches rising to 8.2m at the apex Surfaced concrete yard High quality office accommodation Dedicated parking for 38 cars.

5 Accommodation The property has been measured on a Gross Internal Area basis as follows:- Warehouse 13,822 Office 6,431 20,253 ft² Site The site area extends to approximately acres or thereby. Tenure Heritable Interest Tenancy The subjects are let to Warburtons Limited on Full Repairing and Insuring Terms for a period of 20 years expiring 13th April The current passing rent is 141,512 per annum with the next review 14th April Tenant Warburtons Limited is the largest bakery brand in the UK and offer an excellent covenant. With over 4,500 employees they are the second biggest grocery brand in the UK based on sales after Coca Cola. Financial Information Turnover Profit pre tax Net worth Year Ending September ,139,000 36,327, ,990,000 Year Ending September ,653,000 75,904, ,150,000 VAT The property is elected for VAT and will be applicable, however, we anticipate that the transaction can be completed by way of a TOGC. Capital Allowances No capital allowances are available with the property. Year Ending September ,465,000 19,553, ,403,000 Proposal We are instructed to seek offers in excess of 1,910,000 exclusive of VAT. A purchase at this level would provide a net initial yield of 7% after standard purchasers costs of 5.8%. Warburtons Limited offer a Dun & Bradstreet rating of 5A1 and a Creditsafe score of 98 representing very low risk. Plot D (North), 2 Brittain Way, Eurocentral

6 Further Information For further information and viewing arrangements please contact Steven Gay or Derek Archer. Ryden LLP 130 St Vincent Street Glasgow G2 5HF Steven Gay : / steven.gay@ryden.co.uk Derek Archer : / derek.archer@ryden.co.uk Ryden for themselves and for the vendors or lessors of this property whose agents they are, give notice that the particulars are set out as a general outline for the guidance of intending purchasers or lessees, and do not constitute part of, an offer or contract. All descriptions, dimensions, references to condition and necessary permissions for use and occupation and other details are given in good faith and are believed to be correct, but any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them. No person in the employment of has any authority to make or give any representation or warranty whatever in relation to this property. All prices, rents and premiums etc. are quoted exclusive of VAT. February 2015 designed by cad unlimited