unit 108 tenth avenue / deeside industrial park …...unit 108 tenth avenue / deeside industrial...

UNIT 108 TENTH AVENUE / DEESIDE INDUSTRIAL PARKDEESIDE CH5 2UA

Industrial Sale and Leaseback Opportunity

01244 351212bacommercial.com



INVESTMENT SUMMARY

• Sale and leaseback of an industrial and warehouse complex

• Close links to Liverpool and Manchester with M56, M53 and M6

• Situated on a site of 2.28 acres (0.922 hectares), it has an overall Gross Internal floor Area of 4,988 sq m (53,689 sq ft)

• On completion the property will be let to Comtek Network Systems (UK) Ltd, 10 year term, 5 year break and review

• Comtek have occupied the site for over 27 years

• The rental will equate to £240,000 per annum (£4.47 per sq ft) subject to an open market review upon the fifth anniversary

• We are instructed to seek offers in excess of £3 million, Subject to Contract, and exclusive of VAT, which will show a net initial yield of 7.52 % after allowing for purchases costs of 6.45 %

• Low capital value £55.88 per sq ft

LOCATION

Deeside Industrial Park was established in the 1970’s and is regarded as one of Europe’s leading industrial locations.

The Park is estimated to comprise over 5 million sq ft of industrial and warehouse accommodation, on a site of approximately 600 acres (243 hectares), having attracted a variety of International, National and local manufacturers and distribution companies.

The subject property is located within Zone 3 Deeside, which is located within the Deeside Enterprise Zone.

Deeside Industrial Park has attracted a number of substantial organisations including the following:

• Toyota

• FTS Hatswell

• Iceland

• Great Bear

• Volvo

• Convatec

Please refer to location plan.

DEESIDE



DESCRIPTION

The property comprises an original Welsh Development Agency Advanced Factory Unit, that has subsequently been extended with the overall property providing excellent office, industrial and warehousing accommodation.

The original building is constructed of steel portal frame, clad with insulated plastic coated sheeting, beneath a pitched roof of similar material with 5.6 meter eaves, incorporating approximately 15 % roof lights.

The principal pedestrian access is via a central entrance, leading to ground and first floor offices, within the original building, with industrial accommodation to the rear and mezzanine floor areas.

The rear extension comprises two self-contained warehouse units, completed in 2016. Access to the extension is via a large yard at the rear, accessed via a side driveway.

These provide excellent industrial warehousing accommodation, with 6 meter eaves, incorporating modern offices at ground floor, and concrete mezzanine above.

Floor plans are available upon request.

The property is self contained on a large site which extends to 2.38 acres (0.922 hectares).



ACCOMMODATION

The property has been measured in accordance with RICS Guidelines on a Gross Internal Area as follows.

ACCOMMODATION SQ M SQ FT

Original building

Ground floor Industrial 1142 12296

Ground floor offices 158 1700

First floor offices 158 1700

Mezzanine 486 5235

Link 49 532

Warehouse A

Ground Floor Industrial 947 10194

Ground Floor Offices 380 4091

Mezzanine 380 4091

Warehouse B

Ground Floor Warehouse 1287 13850

Gross Internal Area 4988 53689

Site Area 2.28 Acres 0.92 Hectares



TENANCY

The property is available by way of a sale and leaseback to Comtek Network Systems (UK) Ltd, on a new Full Repairing & Insuring lease, for a term of 10 years from completion. The leaseback will be subject to a tenant break clause upon the fifth anniversary providing not less than twelve months clear written notice.

The rental will equate to £240,000 per annum (£4.40 per sq ft) and will be subject to an open market review upon the fifth anniversary.

COVENANT INFORMATION

Comtek Network Systems (UK) Ltd, Company Registration Number 05929974, incorporated in 2006, are a Pan-European provider of repairs, spares and support to the Telecom, Data Comms and Network Service Industry.www.comtek.co.uk

Detailed Accounts are available to interested parties.

TENURE

Freehold

VAT

The property is not elected for VAT

PURCHASE PRICE

We are instructed to seek offers in excess of £3 million subject to contract and exclusive of VAT which will show a net initial yield of 7.52% after allowing for purchaser’s cost of 6.45%

Shareholder’s Funds Turnover Profit after tax

31/08/2018 £3,104,198 £5,271,138 £177,748

31/08/2017 £2,626,450 £5,271,507 £120,085

31/08/2016 £1,506,365 £5,271,138 £46,795



CONTACT

For further information or an appointment to view please contact;

EPC - EPC certificates are available upon request.

Legal Costs - Each party is responsible for payment of their own legal costs incurred in documenting this transaction.

Agents Note - Under Money Laundering Regulations, we are obliged to verify the identity of a proposed purchaser/tenant once a sale/let has been agreed and prior to instructing solicitors. This is to help combat fraud and money laundering and the requirements are contained in statute.

A letter will be sent to the proposed purchaser/tenant once the terms have been agreed.

Plans / Photographs - Any plans or photographs forming part of these particulars were correct at the time of preparation and it is expressly stated that these are for reference rather than fact.

Reference: January 2019

01244 351212bacommercial.com

email: [email protected]: [email protected]

email: [email protected]: [email protected]



Important Notice

BA Commerical / Mason Owen & Partners conditions under which particulars are issued:

Messrs BA Commercial / Mason Owen & Partners for themselves, for any joint agents and for the vendors or lessors of this property whose agents they are give notice that:

i. the particulars are set out as a general outline only for the guidance of intending purchasers or lessees and do not constitute, nor constitute part of, an offer or contract.

ii. all descriptions, dimensions, references to condition and necessary permissions for use and occupation, and other details are given in good faith and are believed to be correct but any intending purchasers or tenants should not rely on them as statements or representations of fact, but satisfy themselves by inspection or otherwise as to the correctness of each of them.

iii. no person in the employment of Messrs BA Commercial / Mason Owen & Partners or any joint agents has any authority to make or give any representation or warranty whatever in relation to this property.

iv. all rentals and prices are quoted exclusive of VAT.

Reproduced by the courtesy of the Controller of HMSO. Crown copyright reserved. Licence No. ES73291E



unit 108 tenth avenue / deeside industrial park …...unit 108 tenth avenue / deeside industrial...

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