4 ROSEHALL ROAD, BELLSHILL, NORTH LANARKSHIRE, ML4 3NR PRIME SINGLE-LET INDUSTRIAL INVESTMENT OPPORTUNITY 01
INVESTMENT SUMMARY Ideally located, single let industrial investment opportunity in the prime industrial location of Bellshill; Modern, detached distribution unit and gatehouse extending to 3,198 sq ft; Let in full to Yodel Delivery Network Ltd (D&B rating A1) until 1 st August 202 with a tenant break option on 1 st August 2020; Total current passing rent of 27,000 per annum representing a low passing rent of.17 per sq ft; Recently, the tenant has carried out significant works on the property following service of interim dilapidations, demonstrating commitment to the location; Heritable tenure (Scottish equivalent of English Freehold). Offers in excess of 3,930,000 (Three Million, Nine Hundred and Thirty Thousand Pounds Sterling) are sought for our client s heritable interest in the property, subject to contract and exclusive of VAT. A purchase at this level would provide a net initial yield of 6.60% following purchaser s costs at 6.0%. 02
11 4 ROSEHALL ROAD M80 2 8 7 8 STENHOUSEMUIR 13 ALEXANDRIA 1 09 91 KILSYTH 4 1 03 83 FALKIRK LOCATION A761 A737 12 DUMBARTON 31 2 M81 30 1 A736 29 PAISLEY 2 14 CLYDEBANK 28 27 GLASGOW BARRHEAD M8 A726 A77 26 M77 4 MILNGAVIE 2 POLLOK 2 3 2 1 BEARSDEN 24 23 22 21 1 WATERFOOT 79 16 17 19 20 1 A726 1 03 M74 A730 13/1 M74 RUTHERGLEN WESTWOOD 2 11 M8 1a A749 M80 9 A724 A74 3 10 2 M74 3 A72 9 4/1 03 KIRKINTILLOCH 0 8/2 M73 UDDINGSTON 2A M73 BOTHWELL EAST KILBRIDE HAMILTON 3 COATBRIDGE A72 6 A72 A73 BELLSHILL LARKHALL A723 7 0 CUMBERNAULD AIRDRIE 6 A73 MOTHERWELL A71 9 M8 A73 A71 SHOTTS CARLUKE The property is located the prime industrial location of Bellshill which is approximately 10 miles south east from Glasgow city centre and 37 miles west of Edinburgh. Bellshill is a well-established town, originally known for the iron and coal industry, which is now an important focal point on the M8 motorway network. The property is located within Bellshill Industrial Estate which is less than a mile North of Bellshill town centre which has a number of amenities including a railway station which has frequent services to Glasgow city centre. YODEL A736 A73 6 A726 A723 8 A72 A77 7 7 03
2/8 SITUATION M8 GLASGOW & EDINBURGH ROAD A72 The property is well located in the prime location of Bellshill Industrial Estate. The property is easily accessible from the A72 which gives excellent access to the M8 (Junction 7) and M74 (Junction ). M74 3A/4 M73 7A A72 SHAWHEAD INTERCHANGE GLASGOW & EDINBURGH ROAD M8 The surrounding area is mixed in use, with wellestablished industrial and business locations such as Righead Industrial Estate and Strathclyde Business Park, both in close proximity. In terms of occupiers, there are a mix of distribution, trade counter and general industrial occupiers including Screwfix, Howden, Ross Electrical, DAF, DHL, Scania and TNT. A724 B78 B78 B7071 M74 RIGHEAD INDUSTRIAL ESTATE A72 RAITH INTERCHANGE BELSHILL INDUSTRIAL ESTATE BELSHILL A77 B7029 A723 04
DESCRIPTION The property is situated within a generous site extending to.4 acres (2.18 Ha) and has a low site cover of 2%. The property itself comprises a modern, self-contained distribution warehouse with a large secure yard as well as parking for visitors and staff. Internally, the building provides warehouse accommodation over ground level as well as two story offices to the front of the property. The warehouse accommodation has 83 loading bays and a minimum eaves height of 6.8 metres. The property has recently undergone significant works to further modernise the unit, following service of interim dilapidations. Further information is available upon request. EPC RATING The properties have an EPC Rating of E. 0
ACCOMMODATION The subjects have been measured in accordance with the RICS Code of Measuring Practice (6th Edition) and the Gross Internal Areas (GIA) is 3,198 sq ft (4,942.26 sq m). SITE A site plan is attached and the total site area is approximately.4 acres (2.18 hectares), areas measured from promap. NB. Site area stated in lease as 2.18 Hectares. TENURE Heritable (Scottish equivalent of Freehold). 06
TENANCY INFORMATION TENANT COVENANT The property is let joint and severally to Yodel Delivery Network Ltd until 1 August 202 with a with a tenant only break option on 1 August 2020 (6 months notice on break). The current passing rent is 27,000 per annum, representing a low passing rate of.17 per sq ft. The rent is subject to yearly, upward only open market rent reviews with a 1 year assumed term, the next review is due on 1st August 2020. The tenant is currently incurring capital expenditure on the property following service of a schedule of interim dilapidations. Yodel was originally established in 200 as the Home Delivery Network and subsequently bought the B2B and B2C operations of DHL Express UK and rebranded as Yodel in 2010. Yodel has continued to expand and now has over 60 sites located throughout the UK. Yodel Delivery Network Ltd has a Dun and Bradstreet Rating of A1 indicating a minimum risk of business failure. Key financials are outlined below: Fiscal Consolidated GBP 30 Jun 2016 (000 s) Fiscal Consolidated GBP 30 Jun 201 (000 s) Fiscal Consolidated GBP 30 Jun 2014 (000 s) Sales Turnover 422,673 428,446 384,999 Profit / (Loss) Before Taxes (0,438) (0,026) (72,934) Tangible Net Worth 38,264 61,601 1,780 Net Current Assets (Liabilities) 19,170 10,110 7,06 07
VAT FURTHER INFORMATION VAT will be applicable to the sale of the property, which we anticipate will be undertaken by way of a Transfer of a Going Concern (TOGC). PROPOSAL For further information please contact: Janey Douglas Simon Cusiter janey.douglas@eu.jll.com Simon Cusiter@eu.jll.com 0131 301 6718 0131 243 2203 Offers in excess of 3,930,000 (Three Million, Nine Hundred and Thirty Thousand Pounds Sterling) are sought for our client s heritable interest in the property, subject to contract and exclusive of VAT. A purchase at this level would provide a net initial yield of 6.60% following purchaser s costs at 6.0%. Crown Copyright 2018. All rights reserved. Promap licence number 100020449. Jones Lang LaSalle licence number 10001769. This plan is published for the convenience of identification only and although believed to be correct is not guaranteed and it does not form any part of any contract. Disclaimer - JLL for themselves and for the vendors or lessors of this property whose agents they are, give notice that:- a. the particulars are set out as a general outline only for guidance and do not constitute, nor constitute part of, an offer or contract; b. all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are believed to be correct, but any intending purchasers, tenants or third parties should not rely on them as statements or representations of fact but satisfy themselves that they are correct by inspection or otherwise; c. no person in the employment of JLL has any authority to make or give any representation or warranty whatever in relation to the property; d. Any images may be computer generated. Any photographs show only certain parts of the property as they appeared at the time they were taken. For properties in Scotland: e. This correspondence is expressly subject to completion of formal legal missives in accordance with Scots Law Copyright Jones Lang LaSalle IP Inc. February 2018. All rights reserved 08