Plumbob House VALEPITS ROAD, BIRMINGHAM B33 0TD FOR SALE FREEHOLD DISTRIBUTION WAREHOUSE 59,479 SQFT (5,525.7 SQ M)

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1 Plumbob House VALEPITS ROAD, BIRMINGHAM B33 0TD FOR SALE FREEHOLD DISTRIBUTION WAREHOUSE 59,479 SQFT (5,525.7 SQ M)

2 PLUMBOB HOUSE, VALEPITS ROAD, BIRMINGHAM B33 0TD PAGE 02 Investment Summary Freehold Steel portal frame construction 6.65m eaves 6 Dock loading doors / 2 level loading doors Two storey offices Detached with private gated service yard Passing rent 235,000 per annum exclusive / 3.95 per sqft Offers sought in excess of 3,000,000 exclusive of VAT Rare opportunity to purchase a freehold distribution warehouse Excellent Motorway links Close to Birmingham Airport, the NEC and both Jaguar Land Rover plants Short term income with asset management potential Potential to gain early vacant possession

3 PLUMBOB HOUSE, VALEPITS ROAD, BIRMINGHAM B33 0TD PAGE 03 Location Garretts Green is a popular business and industrial area which lies 5.5 miles east of Birmingham City Centre and forms part of the council constituency of Yardley. It is situated 4.5 miles north of Solihull and miles to the south east. The primary routes into equidistant between the Jaguar Land Rover plant in Garretts Green are the A4040 Church Road and this area and the Castle Bromwich plant. the A45 Coventry Road which leads to Birmingham Airport, approximately 4 miles to the south east. Junctions 4 and 5 of the are located 2.5 miles to the north east and Junction 6 of the M42 is 4.5 Situation The property is located on Valepits Road within the industrial area of Garretts Green which was established in the 1960s. A mixture of commercial and industrial premises are located off Granby Avenue, which links to Garretts Green Lane and provides access to the A4040 and A45. The commercial areas within Garretts Green are located to the north east of the suburb and major occupiers include DVLA, ABL Limited and Pluto Plates Limited. A41 West Bromwich M5 1 M5 A41 A34 A38M 6 The Fort Industrial Park Minworth Industrial Estates Erdington Industrial Estate Castle Bromwich Business Park 5 Jaguar Landrover Castle Bromwich 9 M42 Coleshill Industrial Esta Kitt s Green Rd Lea Hall Ace Business Park E Meadway Tile Cross Rd M5 3 M5 A456 A38 Birmingham A441 A435 A47 A45 A41 A4040 A45 Stechford Garretts Green Industrial Estate Ace Business Park Birmingham Gateway Airport Park Jaguar Landrover Solihull Plumbob House M42 Elmdon Trading Estate NEC 4 A452 Birmingham Business Park 7a 7 M42 6 A452 Garrett s Green Lane Sheldon Heath Rd Garretts Green Industrial Estate A4040 Plumbob House Mackadown Ln The Radleys Sheldon Country Club Marston Green Birmingham Airport A41 Solihull

4 PLUMBOB HOUSE, VALEPITS ROAD, BIRMINGHAM B33 0TD PAGE 04 Description The subject property comprises a late 1970s/early 1980s standalone industrial unit which includes both a warehouse as well as ancillary offices totalling 59,479 sq. ft. (there is a further 20,294 sq.ft. of mezzanine within the warehouse area) on a site of 2.8 acres. The warehouse is served via 8 loading doors (6 of which are loading docks) to the front elevation which are accessed directly from the service yard area. As well as the front service yard the site includes 41 delineated car parking bays which are situated to the rear and side elevation as well as a number to the front. The perimeter of the site is defined by a mixture of boundary structures which include chain and link fencing as well as galvanised steel mesh fencing. Within the galvanised steel mesh fencing to the west boundary a double leaf swing gate is incorporated providing the main entrance and exit point to the site. Internally the office accommodation is linked via personnel doors with the warehouse area. The tenant has extensively fitted out both the warehouse and office accommodation and in particular installed extensive racking as well as 4 no. large mezzanines. Both the office accommodation and warehouse areas offer separate welfare facilities which include both WC accommodation as well as kitchen and rest area facilities. Accomodation Warehouse 4,725.3 sqm 50,863 sqft Offices sqm 8,616 sqft TOTAL 5,525.7 sqm 59,479 sqft

5 PLUMBOB HOUSE, VALEPITS ROAD, BIRMINGHAM B33 0TD PAGE 05 Tenancy The property is single let to Thomas Plant (Birmingham) Ltd and produces a total passing rent of 235,000 per annum, which equates to 3.95 psf overall. The original lease was granted from December 2013 until March 2016 with a reversionary lease extending expiry to 31 March The reversionary lease includes a rolling tenant only break any time on or after 31st December 2017 (subject to 6 month notice) and has been granted inside of the Landlord and Tenant Act 1954 Part 2. Tenure The property is held freehold. Valepits Rd Plumbob House

6 PLUMBOB HOUSE, VALEPITS ROAD, BIRMINGHAM B33 0TD PAGE 06 Covenant Information Thomas Plant (Birmingham) Ltd. The company are involved in the import and distribution of kitchenware products. The business was established in 1850 and now trade under the brand name Kitchen Craft and are also part of Lifetime Brands inc. They develop and supply over 4,000 kitchen and homeware items to leading department stores, mail order companies and cookshops across the UK and a further 80 countries. Further information can be found at: In the latest reported accounts the company reported strong trading activity. A summary of the last three year s accounts are as follows: 31/12/2015 ( 000s) 31/12/2014 ( 000s) 28/05/2013 to 31/12/2013 ( 000s) Turnover 41,936 42,713 26,837 Pre-Tax Profits 3,748 5,111 3,815 Total Assets less Current Liabilities 23,680 20,063 17,274 Shareholders Funds 23,663 20,063 17,274

7 PLUMBOB HOUSE, VALEPITS ROAD, BIRMINGHAM B33 0TD PAGE 07 Asset Management Opportunities The vacant possession value is circa 50 per sq ft due to extraordinary lack of supply and well financed owner occupiers. These values are only increasing. Asset will perform very strongly once vacant possession is achieved. We believe that the unit is under rented by 10-15% EPC A copy of the EPC is available on request. The building has an EPC rating of C (63). VAT We understand that the property is elected for VAT and it is proposed that the transaction will be completed by way of a Transfer of a Going Concern. Proposal We are seeking offers in excess of 3,000,000 (Three Million Pounds) subject to contract and exclusive of VAT. A purchase at this level reflects a net initial yield of 7.4%, after allowing for purchaser s costs of 6.37%

8 Further Information For further information or to arrange an inspection please contact: Andrew Price Director Chris Keye Director James Darby Director T: M: T: M: T: M: Misrepresentation Act 1967 IMPORTANT. These particulars do not form part of any contract. Neither Agents, are authorised to give or make any warranty or representation on behalf of any party. Whilst information and particulars are given in good faith intending purchasers or tenants must satisfy themselves independently as to the accuracy of all matters on which they intend to rely. All negotiations are subject to contract. 2016