MANTON WOOD INDUSTRIAL ESTATE

NOTTINGHAMSHIRE S80 2RS

PRIVATECLIENT

MODERN DISTRIBUTION WAREHOUSE INVESTMENT

PRIVATE CLIENT

Modern, high specification distribution warehouse extending to 71,762 sq ft (6,666.86 sq m)

Strategically located on Manton Wood Enterprise Park, adjacent to the A57 and in close proximity to the A1

Site area of 4.09 acres (1.65 hec) providing a low site coverage of 37.7%

Fully let to the strong covenant of Caverswall Holdings Ltd (4A1) with a guarantee from Promotional Logistics Ltd

Unexpired term certain of 4.46 years

Current rent passing of £361,036 per annum (£5.06 psf)

Freehold

We have been instructed to seek offers in excess of £5,000,000 (Five Million Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects an attractive net initial yield of 6.77% and a low capital value of £69.70 psf, assuming purchaser’s costs at 6.59%.

Sheffield CityAirport

NOTTINGHAM

SCUNTHORPE

GRIMSBY

HULL

DONCASTER

ROTHERHAM

SHEFFIELD

HALIFAX

Huddersfield

Wakefield

Barnsley

DERBY

Newcastle-under-Lyme

Stoke-on Trent

Crewe

Stockport

Oldham

BuryRochdale

MANCHESTER

Grantham

LINCOLN

Mansfield

ChesterfieldBuxtonMacclesfield

Gainsborough

Peak

Dis

tric

t Nat

iona

l par

k

A56

A61

A61

A57

A57

A57

A57

A57

A60

A57A57

A15

A15

A15

A15

A15

A15

A15

A46

A46

A46

A46

A46

A46

A46

A46

A46

A46

A46

A15

A63

A63

A15

A15

A15

A61

A61

A61

A61

A52

A52

A54

A53

A53

A34

A53

A53

A52

A52A52

A38

A38

A38

A38

A1

A1

A1

A1

A1

A1

A1

A1

A1

A6

A6

A6

A666

A628

A638

A631

A631

A631 A631

A158

A158

A159

A159

A180

A164

A180

A159

A156

A156

A158

A614

A614

A614

A614

A453A606

A628

A616

A628

A623

A523

A523

A523

A523

A523A520

A520

A520

A523

A623

A619

A617

A610

A610

A610

A619

A6102

M6

M6

M6

M6

M1

M1

M1

M1

M1

M1

M1

M1

M1

M1

M1

M1

M1

M61

M62

M62

M62

M62

M62

M65

M62

M62M62

M62

M62

M18

M18

M18

M18

M18

M62

M62

M62

M56

M56

M60 M60

M60

M60

M66

M66

M67

M180

M180

A1(M)

A1(M)

A1(M)

A1(M) M180M181

WORKSOP

Located in the county of Nottinghamshire, to the north of the East Midlands, Worksop is strategically positioned approximately 17 miles (27.4 km) south east of Sheffield, 27 miles (43.5 km) north of Nottingham and 16 miles (25.7 km) south of Doncaster.

The town benefits from excellent road communications with M1 and A1 running north to south either side of Worksop linking the town to the wider motorway network. The A57 forms the southern and western boundary of the town centre and provides dual carriage way access running east and west offering connections to the nearby towns of Sheffield and Lincoln.

Worksop Railway Station is well connected providing services along the East Midlands Train line and Northern rail line with regular services to Lincoln (45 mins), Nottingham (65 mins), Leeds (98 mins) and London St Pancras (113 mins).

The property is situated to the north west of Manton Wood Enterprise Park approximately 2.5 miles (4 km) south east of Worksop town centre.

Manton Wood Enterprise Park benefits from fronting the A57 with A1 situated 2.5 miles (4 km) to the east and Junctions 30 and 31 of the M1 approximately 10 miles (16 km) and 11 miles (17.7 km) to the west respectively.

The strategic location of Manton Wood Enterprise Park has enabled it to become an important manufacturing and distribution hub in the region and therefore popular with many major industrial and warehouse occupiers. It is home to the national distribution centres for B&Q and Wilkos with other nearby occupiers including; Greencore Group, Optivite International, 2 Sisters Food Group and Saint Gobain Building Distribution.

HGV JOURNEY TIMES:

LONDON: 2HR 50MINS

MANCHESTER: 1HR 40MINS

BIRMINGHAM: 1HR 35MINS

LEEDS: 55MINS

SHEFFIELD: 35MINS

Retford Road

B6040

Roeb

uck W

ay

B6079 Retford Road

Old Coach Road Old Coach Road

MANTO

N WO

OD ENTERPRISE PARK

A57 A57

A57

PRIVATE CLIENT

Freehold.

Constructed in 2003, the property comprises a purpose built, modern, high specifiaction warehouse unit with ancillary office accommodation. The property benefits from a secure loading area and car parking for 70 cars.

The property fronts Manton Wood Enterprise Park and is accessed via a secure gate to the north west side of the Park.

The property benefits from a high specification, including:

Steel portal frame construction with profile metal sheeting roof and composite panel walling

A minimum eaves height of 11.3 metres

Loading facilities via three surface level loading doors and one dock leveller

Concrete ground floor slab with designed UDL of 50 kN per sq m (1,000 lbs psf)

Warehouse specification includes halogen lighting and overhead gas radiant heaters

The office specification includes powder coated aluminium framed double glazing, carpeting throughout, recessed Category 2 lighting, gas-fired heating, raised floors and suspended ceiling

An 8-person passenger lift

Concrete service yard and a car park for 70 cars

Floor Description NIA Sq ft

NIA Sq M

Ground Main Warehouse 62,334 5,791.96

Ground Ancillary/Warehouse (under Mezzanine) 4,832 448.88

First First Floor Office 4,586 426.02

GIA 71,762 6,666.86

Site area of 4.09 acres (1.65 hec) providing a low site coverage of 37.7%.

© Crown Copyright, ES 100004106. For identification purposes only.

PRIVATE CLIENT

The Nottinghamshire Industrial market is the 19th largest out of the 55 industrial markets in the UK (Promis 2018). Occupier demand for industrial units in Nottinghamshire has risen steadily over the past five years and has in turn compressed vacancy rates. The current vacancy rate is 1.6%, significantly below the market’s historical average of 4.2%.

Only 400,000 sq ft of industrial accommodation has been constructed since 2014, yet 200,000 sq ft has been removed through decommissioning and redevelopment. This has caused vacancy rates to remain low which has pressured demand leading to year on year rental growth which has averaged over 5% since the beginning of 2015 (Promis 2018).

Founded in 1981, Prolog (trading name of Caverswall Holdings Ltd and Promotional Logistics) began as a small single site distribution firm. Prolog has grown significantly and presently operates from eight facilities across three sites. They utilise over 800,000 square feet of warehousing, a fleet of 23 vehicles, and a 250-seat contact centre. Their client base includes, British Airways, Cancer Research UK, Great Little Trading Company, Avis Budget Group, Belstaff and Good Hair Day (GHD) amongst many others.

They provide a variety of services including:

• Fulfilment and Mail order• Print on Demand• Distribution – both freight and couriers• Storage • E-Commerce• Contact Centre Operations• Account management• Returns Processing

Caverswall Holdings Limited have a Dun & Bradstreet rating of 4A1 and have reported the following figures:

31.03.2017 31.03.2016 31.03.2015

Sales Turnover £43,390,795 £39,235,504 £38,494,888

Profit £557,908 -£1,515,862 - £2,953,271

Tangible Net Worth £25,759,150 £25,401,524 £27,945,755

Promotional Logistics Ltd t/a Prolog (Guarantor) have a Dun & Bradstreet rating of 2A2 and have reported the following figures:

31.03.2017 31.03.2016 31.03.2015

Sales Turnover £34,766,502 £32,913,073 £32,334,430

Profit -£1,133,222 -£1,144,619 - £1,755,960

Tangible Net Worth £5,334,757 £6,134,448 £7,379,908

Property Sale Date Tenant Area Sq ft

Earliest Determination

NIY Sale Price

Drayton Field Ind Estate, Daventry

Sep-18 Cummins Ltd 89,685 2 Years 5.75% £8,150,000

Waterside Campus, Northampton

Jul-18Northampton University

26,996 25 Years 5.00% £5,000,000

Platts Lane, Spalding Jul-18 Jewson 17,997 13 Years 5.32% £3,125,000

Logix Park, unit 2, Logix Park, Hinckley

Mar-18UK Flooring Direct

58,642 9 Years 5.63% £5,000,000

Metal Box, Radar Road, Leicester

Mar-18Crown Packaging

185,483 9.5 Years 5.20% £17,100,000

Unit 8B, Manton Wood Business Park

May-16 Saint Gobain 140,000 6 Years 5.87% £8,460,000

The property is let on a full repairing and insuring lease to Caverswall Holdings Ltd t/a Prolog (Guaranteed by Promotional Logistics Ltd), for a term of 20 years from 31st March 2003, expiring on 30th March 2023. The passing rent in £361,036 per annum reflecting £5.03 psf.

PRIVATE CLIENT

PRIVATECLIENT

We have been instructed to seek offers in excess of £5,000,000 (Five Million Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects an attractive net initial yield of 6.77% and a low capital value of £69.70 psf, assuming purchaser’s costs at 6.59%.

Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design CommandD www.commandHQ.co.uk 10.18

allsop.co.uk

For further information or to make arrangements for viewing please contact:

PRIVATE CLIENT TEAM

NATIONAL INVESTMENT

Liam Stray020 7543 6769liam.stray@allsop.co.uk

James Salmon020 7543 6880james.salmon@allsop.co.uk

Ronnie Morgan020 7543 6808ronnie.morgan@allsop.co.uk

VATThe property has been elected for VAT.

EPCAvailable upon request.

DATAROOMFor access to the Allsop dataroom please use the following link: https://datarooms.allsop.co.uk/register/MantonWood