secure well let distribution investment opportunity 2018-02-09آ  investment summary • prime...

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  • PIT LANE, TALKE, STOKE ON TRENT, ST7 1UH

    SECURE WELL LET DISTRIBUTION INVESTMENT

    OPPORTUNITY

    TALKE 16

  • TALKE 16 DISTRIBUTION INVESTMENT OPPORTUNITY 1

    J16 M6 HIGH ST

    A500A34

    A500

    PIT LN

    TALKE 16

  • INVESTMENT SUMMARY

    • Prime distribution warehouse located in Stoke-on-Trent, within the established Talke industrial area

    • Situated 1 mile north of the A500 which connects with Junction 16 of the M6 Motorway, 4 miles to the west

    • Comprehensively refurbished at a cost of c. £3.75m

    • Total accommodation of 181,505 sq ft

    • Let to the secure covenant of Centaur Services Ltd with guarantee from MWI (UK Aquisition) Ltd

    • New 10 year term without breaks

    • Initial passing rent of £855,475 per annum, reflecting £4.71 per sq ft

    • Five yearly upward only reviews

    • Tenant rating of 4A2 (Guarantor 5A1)

    • Freehold interest

    • Seeking offers in excess of £11,875,000 (Eleven Million, Eight Hundred and Seventy Five Thousand Pounds) subject to contract and exclusive of VAT

    • A purchase at this level reflects a net initial yield of 6.75% after purchasers cost of 6.71%.

    TALKE 16 DISTRIBUTION INVESTMENT OPPORTUNITY 2

  • A1(M)

    A1(M)

    M25

    M4

    M4

    M2

    M5

    M5

    A34

    A421

    A429

    A346

    A46

    A14

    M50

    M54

    M6

    M6

    M6

    M61

    M69 M42

    M25

    M20

    M1

    M1

    M1

    M62 M62

    M65

    M180

    M11

    M3

    A1(M)

    A1(M)

    M40

    17

    CHELTENHAM AYLESBURY

    MILTON KEYNES

    NORTHAMPTON

    BEDFORD

    AVONMOUTH

    15

    11

    15

    EXETER

    SWANSEA CARDIFF

    NEWPORT

    CHESTER

    CREWE

    SWINDON

    ELLESMERE PORT

    LIVERPOOL

    SALISBURY

    PORTSMOUTH

    SOUTHAMPTON CHICHESTER

    BRIGHTON AND HOVE

    BRISTOL BATH

    GLOUCESTER

    HEREFORD

    OXFORD

    WORCESTER

    BIRMINGHAM

    WOLVERHAMPTON

    LICHFIELD

    COVENTRY

    LEICESTER

    CITY OF LONDON

    ST ALBANS

    CAMBRIDGE

    ELY

    PETERBOROUGH NORWICH

    STOKE- ON-TRENT

    SALFORD

    DERBY NOTTINGHAM

    SHEFFIELD

    LINCOLN

    LANCASTER

    CARLISLE

    PRESTON BRADFORD

    LEEDS

    RIPON

    WAKEFIELD

    KINGSTON

    GRIMSBY

    UPON HULL

    YORK

    DURHAM

    NEWCASTLE UPON TYNE

    SUNDERLAND

    WARWICK

    DOVER

    FELIXSTOWE

    1 HR2HR3HR

    M2

    WINCHESTER

    MANCHESTER

    DRIVE TIMES

    Miles Time

    BIRMINGHAM 45 50 min

    MANCHESTER 44 1 hr

    LIVERPOOL 57 1 hr 10 min

    BRISTOL 133 2 hr 15 min

    LONDON 169 2 hr 30 min

    TALKE 16

    Not to scale. For indicative purposes only

    TALKE 16 DISTRIBUTION INVESTMENT OPPORTUNITY 3

  • LOCATION

    Stoke-on-Trent, the largest commercial area in Staffordshire, is located in the North Midlands, approximately 44 miles south of Manchester, 45 miles north of Birmingham, 35 miles west of Derby and 169 miles north west of London.

    The town benefits from an excellent strategic location, being situated within a 1-hour travel time of many of the UK’s major cities including Manchester, Liverpool, Chester, Birmingham, Sheffield, Derby, Wolverhampton, Nottingham and Leicester. The town also benefits from excellent transport communications; putting 90% of the UK population within 4 hours or less.

    Four international airports are located within an hour’s drive of Stoke-on-Trent. These are Manchester, Birmingham, East Midlands and Liverpool. Manchester Airport is also home to the World Freight Terminal, the largest in the UK outside London. This is currently undergoing a major expansion programme that will include a new world logistics hub.

    Liverpool’s Super Port is less than 60 minutes away. Within this, the recently opened Liverpool 2 is the UK’s centrally located deep water container terminal and connects larger vessels closer to the UK’s industrial, manufacturing and consumer heartland than any other UK Port. The UK’s other major deep-sea ports such as Immingham, Felixstowe and Southampton are all within a 4-hour drive.

    Road connections are excellent, given the proximity of Junctions 15 and 16 of the M6 and the A50, which provides rapid cross-country access to Nottingham, Derby and Junction 24a of the M1 Motorway.

    Stoke-on-Trent railway station is located on the West Coast Mainline providing fast and frequent rail services to Manchester (40 minutes), Birmingham (50 minutes) and London (just 90 minutes).

    TALKE 16 DISTRIBUTION INVESTMENT OPPORTUNITY 4

    TAMWORTH

    SHREWSBURY

    WHITCHURCH

    WREXHAM

    CHESTER

    CANNOCK

    STAFFORD

    TELFORD

    MARKET DRAYTON

    ASKBOURNE

    PEAK DISTRICT

    ST HELENS

    LEEDS BRADFORD

    HALIFAX

    WARRINGTON

    RUNCORN

    CONGLETON

    CREWE

    NORTHWICH

    NANTWICH

    M50

    M62

    M62

    M62

    M62

    M55

    M65

    M6

    M6

    M6

    M1

    M1

    M6 TOLL

    M56

    M53

    M53

    M54

    A556

    A51

    A51 A50

    A520

    A52

    A523A34

    A53

    J16

    MANCHESTER

    DERBY

    STOKE ON TRENT

    LIVERPOOL

    BIRMINGHAM

    TALKE 16

    N

  • A500

    A500

    A34

    M6 J16 N

    E W

    C A

    S T

    L E

    R D

    TA L

    K E

    R D

    TA LK

    E

    RD

    TRAVELODGE STOKE TALKE

    H IG

    H S

    T

    O A

    K T

    R E

    E L

    A N

    E

    PIT LANE

    M1

    P IT

    L A

    N E

    TALKE 16

    N

    SITUATION

    Talke 16 is situated within the established Talke industrial area, approximately 6 miles north of Stoke-on-Trent city centre. Talke is situated less than 1 mile north of the A500, which provides a fast and direct link to Junction 16 of the M6 approximately 4 miles to the West and the A50 (M6-M1 link) 7 miles to the South East.

    The subject premises are situated on Pit Lane, the main thoroughfare serving the Talke industrial area.

    the property benefits from AN EXCELLENT STRATEGIC LOCATION, WITH GOOD ACCESS TO THE REGION

    , S

    key ARTERIAL ROUTES.

    The attractiveness of Stoke as a distribution centre derives not only from its excellent communications network, but also from good levels of labour availability at reasonable rates and, importantly, as a location with an historic acceptance of shift work, enabling 24-hour operation. The latter has become increasingly important to today’s retail environment which embraces “just in time” or “last mile” stock transfer.

    These strengths have created a distribution hub which has been recognised by Sainsbury’s, Pets at Home, Screwfix, New Look, Dunelm, Marks & Spencer, Tesco, Asda, TK Maxx and National Veterinary Services amongst others.

    London 169 miles

    Birmingham 45 miles

    Manchester 44 miles

    Nottingham 53 miles

    Liverpool 57 miles

    Bristol 133 miles

    TALKE 16 DISTRIBUTION INVESTMENT OPPORTUNITY

    Heathrow 156 miles

    Manchester 38 miles

    East Midlands 45 miles

    Birmingham International

    54 miles

    5

  • DESCRIPTION

    The Property comprises a comprehensively refurbished industrial unit of steel portal frame construction. The high specification cross docked facility provides the following:

    Warehouse

    • Minimum clear eaves height of approximately 10m

    • 19 dock level loading doors and 5 ground level access loading doors

    • Heating, lighting (450 lux) and sprinklers throughout the warehouse

    • 3 separate loading yards

    • 1,000 kVA on site power capacity

    Offices

    • Two storey integral office accommodation

    • Fully heated and lit

    • Open plan accommodation

    • 8-person passenger lift

    • Male, female and disabled WC’s

    External

    • 3 extensive yard areas to the southern, western and northern elevations

    • Separate parking area for approximately 57 cars

    • Additional 1.4-acre yard area

    • Secure fencing to the perimeter and

    • Gatehouse access to the yard areas together with barrier controlled entry system.

    TALKE 16 DISTRIBUTION INVESTMENT OPPORTUNITY 6

  • LANDLORD/& TENANT WORKS

    The landlord has invested c. £3.75M on the building. The works include the following:

    • New Trocal roof covering with a 15-year warranty from November 2015

    • New fencing and gates

    • CAT A refurbishment to the offices and WCs

    • Full refurbishment/ replacement of the dock levellers

    • Demolition of some buildings and a new extension to the North West corner with new roller shutter door access

    • New yard area to part

    • Extensive cladding works, including a recoating (10 year warranty)

    • Complete redecoration of the warehouse

    • New lighting throughout the warehou

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