secure well let distribution investment opportunity 2018-02-09آ investment summary â€¢ prime...
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PIT LANE, TALKE, STOKE ON TRENT, ST7 1UH
SECURE WELL LET DISTRIBUTION INVESTMENT
TALKE 16 DISTRIBUTION INVESTMENT OPPORTUNITY 1
J16 M6 HIGH ST
• 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
BRIGHTON AND HOVE
CITY OF LONDON
NEWCASTLE UPON TYNE
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
Not to scale. For indicative purposes only
TALKE 16 DISTRIBUTION INVESTMENT OPPORTUNITY 3
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
STOKE ON TRENT
M6 J16 N
TRAVELODGE STOKE TALKE
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
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
The Property comprises a comprehensively refurbished industrial unit of steel portal frame construction. The high specification cross docked facility provides the following:
• 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
• Two storey integral office accommodation
• Fully heated and lit
• Open plan accommodation
• 8-person passenger lift
• Male, female and disabled WC’s
• 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