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TRANSCRIPT
FOR SALE
INVESTMENT OPPORTUNITY
• Modern premises within prime industrial location • 32,354 sq ft (3,005 sq m) with additional mezzanine • Low site density of 20% • Unbroken 10 year lease from August 2016 • Headine rent of £125,000 per annum exclusive • Net initial yield of 7.36% • Offers sought in the region of £1,600,000
AMBER PRECAST LTD
WEST WAY COTES PARK INDUSTRIAL ESTATE
ALFRETON DERBYSHIRE
DE55 4QJ
AMBER PRECAST LTD, WEST WAY, COTES PARK INDUSTRIAL ESTATE ALFRETON, DERBYSHIRE, DE55 4QJ
LOCATION The premises are located within the well-established Cotes Park Industrial Estate, which lies to the south of the A38, providing access to Junction 28 of the M1 motorway, approximately 2.5miles to the east. Continuing along the A38 in a westbound direction leads to Derby city centre, approximately 15 miles south west. The property is situated fronting West Way and is in close proximity to a range of established occupiers including Royal Mail (next door), UPS and Eurocell.
DESCRIPTION The property comprises a twin bay detached industrial unit with two storey office accommodation along the front elevation. The unit is a steel portal frame construction beneath a pitched profile sheet metal clad roof. The unit benefits from four roller shutter doors, 6 metre eaves and 35 allocated car park spaces. To the rear there is a large concrete yard. The premises are bounded by palisade fencing. ACCOMMODATION Sq m Sq ft Ground floor office 395.30 4,255 First floor office 374.97 4,036 Production area 798.34 8,593 Workshop area 660.87 7,113 Dispatch area 776.32 8,356 Total 3,005.00 32,353 Two mezzanine structures are incorporated in the despatch area totalling 552.25 sq m (5,944 sq ft). (Measurements are quoted on a gross internal basis in accordance with the RICS Code of Measuring Practice, 6th Edition). SITE AREA We understand the total site area to be 3,687 acres (1.492 ha).
AMBER PRECAST LTD, WEST WAY, COTES PARK INDUSTRIAL ESTATE ALFRETON, DERBYSHIRE, DE55 4QJ TENANCY The lease is granted to Amber Precast Ltd (Company No: 08363804), part of Hughes Armstrong Corporate Investment PLC, with a guarantor from Advance Construction Engineering (Company No: 09038431). TERM Unbroken10 year term from 5 August 2016. RENT Year 1 - £110,000 Year 2 - £115,000 Year 3 - £120,000 Year 4 - £125,000 Year 5 - £125,000 Rent payable quarterly in advance. RENT REVIEW Upwards only on the 5th anniversary of the term. TENURE Freehold COSTS Each party to be responsible for their own legal and professional fees incurred in the transaction. VAT VAT will be charged at the appropriate rate. It is anticipated that the sale will be treated as a TOGC. PRICE Offers sought in the region of £1,600,000, reflecting a net return to the buyer of 7.36%.
AMBER PRECAST LTD, WEST WAY, COTES PARK INDUSTRIAL ESTATE ALFRETON, DERBYSHIRE, DE55 4QJ ENERGY PERFORMANCE CERTIFICATE The property has been assessed as having an energy rating of 40 (Band B). A copy of the Energy Performance Certificates is available on request from the selling agents. FURTHER INFORMATION & VIEWING Viewing is strictly by appointment with the joint agents. For further information or to arrange a viewing please contact:- CARTER TOWLER LIMITED David Towler / Matthew Faulkes 0113 245 1447 [email protected] [email protected]
INNES ENGLAND Scott Osborne 0115 924 3243 07894 587809 [email protected]
(REF.CDT.CM.17017) Details prepared January 2017
