DRAKES COURT EAGLE WAY, LANGAGE BUSINESS PARK PLYMOUTH PL7 5JY MULTI-LET INDUSTRIAL INVESTMENT

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1 DRAKES COURT EAGLE WAY, LANGAGE BUSINESS PARK PLYMOUTH PL7 5JY MULTI-LET INDUSTRIAL INVESTMENT

unit 2 & 1 INVESTMENT CONSIDERATIONS Established industrial/warehouse location in Langage, with easy access to trunk road Four modern, detached

80 per sq ft overall) Long standing tenants with commitment to the location AWULT of 6.

2 unit 2 & 1 INVESTMENT CONSIDERATIONS Established industrial/warehouse location in Langage, with easy access to trunk road Four modern, detached well specified trade/industrial units, completed in ,643 sq ft (3,682.9 sq m) GIA Freehold Rental income of 230,050 per annum ( 5.80 per sq ft overall) Long standing tenants with commitment to the location AWULT of 6.1 years to lease expires unit 4 Seeking offers in excess of 3,100,000 (Three Million One Hundred Thousand Pounds), reflecting a net initial yield of 7% after standard purchaser s costs of 5.8%. INVESTMENT CONSIDERATIONS

3 6 A377 M5 Honiton A39 Okehampton LOCATION EXETER Sidmouth Penzance Newquay A392 Truro Redruth A39 A394 Falmouth A39 A39 Bodmin A391 St. Austell A390 A390 A Tavistock Princetown Yelverton Ivybridge PLYMOUTH Modbury A376 Exmouth 0 Torquay Dartmouth Plymouth is the largest city in the south west of England; located 220 miles south west of London, 112 miles south west of Bristol and 45 miles south west of Exeter. The City has excellent road communications with the providing access to the national motorway network at Junction 31 of the M5 motorway at Exeter. Plymouth s mainline railway station has a direct journey time to London of just over 3 hours and to Bristol Temple Meads of approximately 2 hours. There are other direct services to the Midlands, the North, Scotland and South Wales. In addition, the city is an important continental and national sea port. Exeter Airport is 44 miles away. 64 B3413 PLYMOUTH AIRPORT B3413 B3413 B3432 B3417 DRAKES COURT The city has a population of 262,000 and is ranked in the top 20 UK cities based on its retail catchment of some 354,000 persons. Plymouth University is home to 35,000 students and 3,000 staff with the main campus located a short walk north of the City Centre. 6 PLYMOUTH TRAIN STATION B3416 A374 A374 A374 B3416 M5 A379 THE SOUND LOCATION

SITUATION Drakes Court is situated on the Eastern side of Plymouth and forms part of Langage Business Park which is situated 4 miles from Plymouth city centre.

The becomes the M5, at Exeter, approximately 44 miles to the east.

4 SITUATION Drakes Court is situated on the Eastern side of Plymouth and forms part of Langage Business Park which is situated 4 miles from Plymouth city centre. Langage Business Park is one of Plymouth s principal commercial locations. The property has easy access onto the Devon Expressway situated only 0.6 miles to the south via the B3416. The becomes the M5, at Exeter, approximately 44 miles to the east. Langage Business Park was developed in the 1980 s and is made up of industrial, distribution, manufacturing and trade counter uses as well as car dealerships and call centres. Nearby occupiers include an Orange Call Centre, Dixons, Jaguar, Toyota, and Audi Car Showrooms. Running along the eastern boundary of Langage Business Park is the Langage Energy Park which totals 100 acres and is zoned for office, high tech and industrial uses. unit 3 Map for indicative purposes only SITUATION

DESCRIPTION Drakes Court comprises a four unit

with 6m minimum eaves and incorporate a two storey

Each unit includes demised parking and yard area.

5 DESCRIPTION Drakes Court comprises a four unit development built in Each of the units are of a high overall specification with steel portal frame construction with 6m minimum eaves and incorporate a two storey amenity block. Each unit includes demised parking and yard area. The property occupies a secure site of circa 1.14 acres (0.46 hectares), reflecting a site coverage of approx 42%. DESCRIPTION

TENANCIES Drakes Court is let to four tenants and produces a total rent roll of 230,050 per annum. The property has an AWULT of 6.1 years to lease expires.

Draeger Safety UK Ltd Skills to Group Ltd 6,222 01/12/2000 30/11/2020 10,451 25/03/2003 24/03/2023 14,531 19/10/2001 18/10/2021 Rent per annum (psf) 53,950 ( 6.39) 39,100 ( 6.

- Lease guaranteed by David John Hildrew -22 car parking spaces - Lease guaranteed by Russell Watson -14 car parking spaces - Lease guaranteed by Draeger Safety AG & Co.

6 TENANCIES Drakes Court is let to four tenants and produces a total rent roll of 230,050 per annum. The property has an AWULT of 6.1 years to lease expires. Tenancy details are outlined below: Unit Tenant Area (sq ft) Lease start Lease expiry Unit 1 Dash Direct Ltd 8,439 28/07/ /07/2021 Unit 2 Unit 3 Unit 4 Snowbee (UK) Ltd Draeger Safety UK Ltd Skills to Group Ltd 6,222 01/12/ /11/ ,451 25/03/ /03/ ,531 19/10/ /10/2021 Rent per annum (psf) 53,950 ( 6.39) 39,100 ( 6.28) 57,000 ( 5.45) 80,000 ( 5.51) Comments - Current rent is 41,435 until July 2016 and rent topped up by vendor. - Lease guaranteed by David John Hildrew -22 car parking spaces - Lease guaranteed by Russell Watson -14 car parking spaces - Lease guaranteed by Draeger Safety AG & Co. KGoA -22 car parking spaces - Lease guaranteed by Messrs Boulting, Boulting and Rowlands. -38 car parking spaces -Rent review outstanding from 24/06/2013 Substation /12/ year lease at a peppercorn rent Total 39, ,050 ( 5.80 overall) TENANCIES

7 COVENANT INFORMATION We have set out below further financial information on the tenants, where available: Unit Tenant Business Guarantor Year to date Turnover Pre-tax profit Shareholders Funds 31/12/ ,000 1 Dash Direct Ltd Retail distribution David John Hildrew 31/12/ ,000 31/12/ ,000 2 Snowbee (UK) Ltd Produces and distributes fishing equipment Mr R A Watson 31/12/ ,158,000 31/12/ ,100,000 31/12/ ,023,000 31/12/ ,805,000 12,168,000 34,241,000 3 Draeger Safety UK Ltd Medical and Safety technology Draeger Safety AG & Co KGoA 31/12/ ,909,000 14,851,000 36,774,000 31/12/ ,209,000 15,366,000 37,139,000 4 Skills to Group Ltd Training provider Mr J W Bolting, Mr J W Rowland & Mr M J Bolting 31/07/ ,633,000 2,404,000 5,029,000 31/07/2013 7,685,000 1,271,000 3,686,000 31/07/ ,819,000 VAT The property has been elected for VAT and therefore VAT will be payable on the purchase price. We anticipate that the transaction will be treated as a Transfer of Going Concern (TOGC). COVENANT

EPC EPC reports can be provided on request.

INSPECTION ARRANGEMENTS unit 1 For further information, or to arrange an inspection please contact: Oliver Stretton 0117 317 1121 Lucy Round 0117 317 1108 John Benson 0117 317 1100 Simon Bennett 0117

The particulars contained herein are for guidance purposes only and do not constitute either part or whole of an offer or contract. 2.

8 EPC EPC reports can be provided on request. PROPOSAL Offers are sought in excess of 3,100,000 (Three Million One Hundred Thousand Pounds), reflecting a net initial yield of 7% after standard purchaser s costs of 5.8%. INSPECTION ARRANGEMENTS unit 1 For further information, or to arrange an inspection please contact: Oliver Stretton Lucy Round John Benson Simon Bennett Mark Stanton Important: Alder King for themselves and for the vendors of this property, whose agents they are, give notice that: 1. The particulars contained herein are for guidance purposes only and do not constitute either part or whole of an offer or contract. 2. All descriptions, dimensions, references to condition and necessary permissions for use and occupation 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, and must satisfy themselves as to their correctness. 3. No person in the employment of Alder King has any authority to make or give any representations or warranties whatsoever in relation to these properties. 4. No responsibility can be accepted for expenses incurred by intending purchasers in inspecting and considering the properties which are offered. Under the Control of Asbestos Regulations 2006 (CAR 2006), the owner or tenant of the property, and anyone else who has control over it and/or responsibility for maintaining or repairing it, may be under a statutory obligation to detect and manage any asbestos or asbestos related compounds contained within the property. Failure to comply with the CAR 2006 is an offence and could adversely affect the value of the property. The detection and management of asbestos and asbestos related compounds is beyond the scope of our expertise and does not form part of the services that we have agreed to provide in respect of the property. Accordingly: 1. Alder King do not accept any responsibility for, and you should not place any reliance on us in respect of, the detection and/or management of any asbestos and/or asbestos related compounds contained in the property. 2. We strongly recommend that you obtain advice from specialist environmental consultants in respect of asbestos related issues. MISREPRESENTATION ACT COPYRIGHT DISCLAIMER COPYRIGHT JONES LANG LASALLE IP, INC All rights reserved. No part of this document may be reproduced or transmitted in any form or by any means without prior written consent of Jones Lang LaSalle. It is based on material that we believe to be reliable. Whilst every effort has been made to ensure its accuracy, we cannot offer any warranty that it contains no factual errors. We would like to be told of any such errors in order to correct them. Subject to Contract and Exclusive of VAT November 2015 Designed and produced by CONTACT

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