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  • Tesla Motors, 396 Wellington Road (A6), Stockport SK4 5AE

    FREEHOLD CAR DEALERSHIP INVESTMENT

    Tesla Motors 396 Wellington Road (A6) Stockport SK4 5AE

    Investment Summary Location Situation Description Accommodation Tenure Motor Retail Investment Market Further Information

    http://gva.co.uk/8702

  • Executive SummaryExecutive Summary

    Tesla Motors, 396 Wellington Road (A6), Stockport SK4 5AE

    Investment Summary • A purpose-built vehicle dealership that has been

    recently redesigned and refurbished to a high specification.

    • Located in Stockport, prominently situated on the A6 Wellington Road, the main link road between Manchester and Stockport.

    • Buildings of 15,641 sq ft, on a site of 1.18 acres.

    • Let to Tesla Motors Limited (guaranteed by Tesla Motors Netherlands BV) on a new 15 year FRI lease from 8 September 2015, with tenant break options after five and ten years.

    • The rent is to be reviewed five yearly, upward only in accordance with RPI, collared and capped at 1%-3%.

    • The initial rent is £140,000 per annum, reflecting only £8.95 per sq ft overall.

    • We are instructed to seek offers in excess of £1,765,000 for the freehold interest, subject to contract and exclusive of VAT, reflecting a Net Initial Yield of 7.5%.

    Investment Summary Location Situation Description Accommodation Tenure Motor Retail Investment Market Further Information

    http://gva.co.uk/8702

  • Investment Summary Situation Description Accommodation Tenure Motor Retail Investment Market Further Information

    Tenure

    Location

    Tesla Motors, 396 Wellington Road (A6), Stockport SK4 5AE

    Location Stockport is located 7 miles south of Manchester city centre with, as at 2011, a resident district population of approximately 283,000. Given the property’s proximity to the wider Manchester conurbation, the population within five miles of the subject property is estimated to be around 796,000.

    The town has excellent road communications being served by Junctions 1 and 27 of the M60 Manchester Orbital Motorway. Stockport railway station is on the West Coast mainline with regular services to London, Manchester and Birmingham.

    11 15

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    10 21A

    29 1

    12 1

    4 1

    10 14

    M56

    M56

    M53

    M53

    M6

    M6

    M6

    M6

    M61

    M65

    M61

    M66

    M58

    M60

    M602

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    M62 M57

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    1 27 26

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    7 65

    4

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    1

    Chorley

    LEYLAND DARWEN

    ACCRINGTON

    RAWTENSTALL

    Bolton

    Rochdale

    BLACKBURN

    PRESTON LYTHAM-ST-ANN'S

    SOUTHPORT

    ORMSKIRK

    Manchester

    Stockport

    Oldham

    Altrincham

    Macclesfield

    Congleton

    Stoke 0n-Trent

    Newcastle- Under-Lyme

    Crewe

    Nantwich

    Wrexham

    Middlewich

    Widnes

    NorthwichNorthwich

    Liverpool

    WALLASEY

    Brikenhead

    CONNAH'S QUAY

    HOLLYWELL

    PRESTATYN

    DENBIGH

    ST. ASAPH

    Ellesmere Port

    RIVER MERSEY

    Liverpool John Lennon

    Airport

    Manchester Airport

    Chester

    Skelmersdale

    St Helens

    A5117

    A550

    A540

    A553

    A554

    A55

    A55

    A5116

    A41

    A557

    A533

    A533

    A561

    A57

    A57

    A565

    A5058

    A580

    A580

    A6

    A6

    A58

    A58

    A58

    A56

    A59

    A59

    A59

    A582

    A565

    A570

    A570

    A565 A676

    A58

    A58

    A580

    A666

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    A646

    A56

    A5103

    A5036

    A5209

    A663

    A627

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    A5053

    A5300

    A56

    A57

    A56

    A556 A537

    A537

    A34

    A34

    A34

    A34

    A534A530

    A34 A51

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    A534 A534

    A41

    A500 A500

    A527

    A53

    A523

    A520

    A54

    A41

    A41

    A51

    A54

    A49

    A49

    A556

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    A548

    A549

    A548

    A5026

    A5151

    A525

    A525

    A541

    STOCKPORT RO AD A

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    C KPO

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    A D

    A 6

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    K IN

    G SW

    AY

    A

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    BARLOW MOOR RD A

    5145 DIDS

    BURY ROAD

    A57 HYDE ROAD

    A626

    A626

    STO CK

    PO RT

    RO AD W

    EST

    A56 0

    A6

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    BARLOW ROAD

    H EA

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    OR RD

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    R TO

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    O A

    D B616

    7 R ED

    D ISH

    R O

    A D

    CROSSLEY RD

    ALB E RT RD

    MAULDETH ROAD W.

    EL MW

    OO D

    R O

    A D

    Denton

    Stockport

    Manchester

    Parrs Wood

    Heaton Moor

    Golf Club

    Didsbury Golf Club

    Denton Golf Club

    Cheadle

    25

    24 1A 2

    26

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    2

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    M60

    M60

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    http://gva.co.uk/8702

  • Tenure

    Tesla Motors, 396 Wellington Road (A6), Stockport SK4 5AE

    Situation The property is situated in a prominent location on the A6 Wellington Road, the main link road between Manchester and Stockport, just north of its junction with the A626. The A6 and A626 lead directly to Junctions 1 and 27 of the M60 respectively, two miles to the south.

    There is a range of commercial occupiers located close by on the A6 including, to the north, Aldi, Morrisons, KFC, McDonald’s and Texaco and Shell branded forecourts, all within ½ mile of the subject site. Similarly, to the south, occupiers within a mile include Mercedes and Ford car dealerships, Topps Tiles, Boots Opticians, Safestore and an Esso branded filling station.

    Investment Summary Location Situation Description Accommodation Tenure Motor Retail Investment Market Further Information

    http://gva.co.uk/8702

  • Investment Summary Location Situation Accommodation Tenure Motor Retail Investment Market Further InformationDescription

    Tesla Motors, 396 Wellington Road (A6), Stockport SK4 5AE

    Description The property comprises a purpose-built car dealership facility with a showroom building to the front of the site, together with a larger self-contained workshop building to the rear. The tenant has invested heavily in the refurbishment and fitting out of the property.

    Internally, the showroom provides display for three vehicles (it previously had capacity for seven display vehicles prior to refurbishment), and benefits from full height glazing to the front and sides. Ancillary offices are provided on both ground and first floors.

    The rear building has been redesigned and refurbished to accommodate a workshop with seven vehicle service bays (it previously had nine), storage accommodation and a rear valet area.

    Both buildings have undergone extensive fit out works by Tesla in accordance with its corporate branding.

    To the front of the site there is generous vehicular display provision for approximately 32 vehicles. There is additional parking to the rear, including a secure parking compound, which in total can accommodate around a further 60 vehicles.

    http://gva.co.uk/8702

  • Investment Summary Location Situation Description Accommodation Tenure Motor Retail Investment Market Further Information

    Tesla Motors, 396 Wellington Road (A6), Stockport SK4 5AE

    Accommodation The property has the following approximate gross internal areas:

    The property has an approximate site area of 1.18 acres (0.48 hectare), giving a footprint site cover of 27%.

    Showroom Building: Sq Ft Sq M

    Ground floor showroom/ offices

    3,875 sq ft 360 sq m

    First floor offices/ancillary 1,841 sq ft 171 sq m

    Subtotal 5,716 sq ft 531 sq m

    Rear Workshop: 9,925 sq ft 922.0 sq m

    Total GIA 15,641 sq ft 1,453.0 sq m

    http://gva.co.uk/8702

  • Tesla Motors,