For Sale detached industrial/warehouse investment opportunity. Bumpers Farm Industrial Estate Chippenham Wiltshire SN14 6LH

Transcription

1 For Sale detached industrial/warehouse investment opportunity Bumpers Farm Industrial Estate Chippenham Wiltshire SN14 6LH CLICK HERE TO ENTER

2 Investment summary Strategically located in Chippenham within easy access of Junction 17 of the M4 motorway; Detached manufacturing/warehouse facility on self contained plot; Principal floor area approximately 4,649 sq m (50,041 sq ft); First floor mezzanine storage areas 11,076 sq m (12,657 sq ft); The site area extends to approximately 1.21 hectares (3.0 acres); On-site expansion area of approximately 0.14 hectares (0.36 acres); Rental income 175,000 per annum exclusive; New 10 year lease agreement subject to a break option; Guide price XXXXXX; A purchase at this level reflects a net initial yield of XXX% after allowing for purchaser s costs.

3 Location / situation Chippenham holds a strategic location on the M4 motorway. Bristol is 28 miles to the west and Swindon 27 miles to the east. Bumpers Farm Industrial Estate is the principle employment area in the town. It has good road communications via the A350 to Junction 17, approximately 3.5 miles and Chippenham town centre, 1.5 miles. The town benefits from a mainline rail service to London Paddington, approximately 1 hour 20 minutes. Chippenham is one of the principle towns based in North Wiltshire with an urban population of approximately 33,000. The property is centrally located on the Estate, directly fronting onto the main Estate road, Bumpers Way. Other occupiers on the Estate include Wickes, Pets at Home, The Post Office, Plumbase and The Chippenham Motor Company.

4 Description The property comprises a detached manufacturing/warehouse facility situated on its own self contained plot. The unit is constructed of a twin bay steel portal frame with brick, glazed and metal clad elevations. Internally to the front there is a two storey reception/administration area with services. These areas benefit from being lit, heated and carpeted in part. The workshop/warehouse areas provide modern functional space. Minimum internal eaves height 6.3m. Within the main areas of the building there is an inset raised loading bay with three roller shutter doors accessing it. There is also an extensive mezzanine floor. These areas are also lit and heated. To the side of the building there is a covered loading canopy with a further two loading doors and ground level loading ramp. Outside to the front there are large car parking and loading areas. To the side is an enclosed service yard with further parking and loading areas. There is an area of potential expansion land which is currently undeveloped. Approximate boundaries

5 Accommodation schedule (Measured on a gross internal basis) Ground Floor Workshop/warehouse 3,577 sq m 38,496 sq ft Inset loading bay 218 sq m 2,351 sq ft Reception/offices/utilities 427 sq m 4,597 sq ft First Floor Offices/utilities 427 sq m 4,597 sq ft Total Floor Area 4,649 sq m 50,041 sq ft First Floor Mezzanine Storage 1,176.9 sq m 12,658 sq ft External loading bays and canopy 218 sq m 2,351 sq ft Total site area 1.21 hectares 3.0 acres Floor plans are available in the General Information section.

6 Tenancy Western Screen and Sign Limited will be signing a new lease agreement, the salient terms of which are set out below: A new 10 year lease agreement; Upward only rent review at the end of the 5th year to the higher of open market value or the existing rent passing; 175,000 per annum exclusive, payable quarterly in advance; A tenant only break option at the end of the 5th year, subject to giving no less than 6 months written notice; A full repairing lease agreement, subject to a written and photographic Schedule of Condition. As this is a new lease agreement, a draft copy of the leases will be made available upon request. Company Background and Financial Information Western Screen and Sign Limited (Company registration number: ) was originally incorporated in 1961 and has traded since this date under a number of company names. The tenant company is being acquired by its current management and remains profitable. Management accounts and information are available on request. Tenure The property is owned on a long leasehold agreement subject to a peppercorn rental held originally from the District Council of North Wiltshire (now Wiltshire Council) for a term of 125 years from 25th July A copy of the ground lease agreement is available in the General Information section.

7 e proposal Offers are invited at an asking price of XXXXXX, subject to contract and exclusive of VAT. A purchaser at this level reflects a net initial yield of XXX% after allowing for purchaser s costs. Investment Rationale We believe this opportunity is an attractive investment for the following reasons: The building will be tenanted by a long established profitable manufacturing/warehouse business which has occupied the building for many years; The industrial/warehouse market place in Chippenham and Bumpers Farm has been an active and remains well occupied; The property holds a prominent location onto the principle Estate road; Both the capital and rental values are at an attractive market level.

8 Contact and EPC information EPC INSTRUCTED Viewing and Further Information For further information or an appointment to view please contact: Paul Whitmarsh MRICS Whitmarsh Lockhart, 5 Stanton Court, South Marston Park, Swindon SN3 4YH Whitmarsh Lockhart for themselves and for 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 intended purchasers or lessees, and do not constitute, nor constitute any part of, an offer or contract; (ii) all descriptions, dimensions, reference to condition and necessary permissions for use and occupation, and other details are given without responsibility and any intending purchasers or tenants should not rely on them as statements or representations of fact but must satisfy themselves by inspection or otherwise as to the correctness of each of them; (iii) no person in the employment of Whitmarsh Lockhart has any authority to make or given any representation or warranty whatever in relation to this property. Document produced January 2013.

9 General information Please click on the images below to view the documents. Ground Lease Agreement Plans Credit Search Business Rates