CUSTOMPACK LTD, UNIT F, HALESFIELD 14, TELFORD, TF7 4QR

Transcription

1 PRIVATECLIENT CUSTOMPACK LTD, UNIT F, HALESFIELD 14, TELFORD, TF7 4QR

2 CUSTOMPACK LTD, UNIT F, HALESFIELD 14, TELFORD, TF7 4QR EXECUTIVE SUMMARY Located on the well-established Halesfield Industrial Estate Excellent access to the M54 and the M6 motorways Self-contained detached headquarters warehouse facility comprising approximately 93,580 sq ft (GIA) Maximum clear height of 7.82 metres Freehold Single let to the strong covenant of CustomPack Ltd. Tenant has invested significantly in fit out and machinery Long unexpired lease term of 9.75 years Rental income of 315, per annum equating to 3.37 psf Upwards only annual uncapped RPI linked increases PROPOSAL Offers are sought in the region of 4,000,000 (Four Million Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 7.40% after allowing for purchaser s costs of 6.54% and a low capital value of psf overall. Running yield profile based on OBR RPI forecasts (no purchaser s costs): % % % %

3 CUSTOMPACK LTD, UNIT F, HALESFIELD 14, TELFORD, TF7 4QR A41 Airp A53 A5 A442 Newport A518 Telford A518 M54 A449 M6 A34 M6 Toll A5 A38 A42 BRIDGNORTH ROAD BROCKTON WAY A442 Edgmond Foods CustomPack HALESFIELD 14 Nomique H ALESFIELD 14 HALESFIELD 13 Retail Furniture Hexagon Manufacturing Intelligence HALESFIELD 9 A41 A442 A454 Wolverhampton Walsall Sutton Coldfield M42 A442 A458 A449 Kidderminster Dudley M5 M6 Birmingham Birmingham International Airport M42 M6 Nuneaton Coventry Coventry Airport M CML HALESFIELD 10 Prime Facility Services Libra Systems MAD BROOK TELFORD TRAVEL TIMES BY ROAD Birmingham Manchester Liverpool London 40 mins 100 mins 100 mins 180 mins BY TRAIN Wolverhampton Birmingham New Street Manchester Piccadilly London Euston 18 mins 36 mins 93 mins 130 mins AIRPORT DRIVE TIMES Birmingham International East Midlands International Manchester Airport London Heathrow 54 mins 70 mins 88 mins 150 mins LOCATION Telford is the largest town in the county of Shropshire with an estimated population of close to 170,000. It is located in the West Midlands, approximately 21 km (13.0 miles) east of Shrewsbury and 43 km (30.0 miles) north west of Birmingham. The town benefits from excellent communications with the M54 linking the town to the M6 (Junction 10a) 27 km (17.0 miles) to the east. The A5 runs east-west through the town. The town is located on the Arriva Wales train line which provides regular services into Birmingham and offers direct connections to London Euston. Telford has an International Rail Freight Park which is within 10 minutes of the subject property, providing access to the regional and national rail networks.

4 WAY CUSTOMPACK LTD, UNIT F, HALESFIELD 14, TELFORD, TF7 4QR Tank Halesfield Halesfield 14 HALES El Sub Sta El Sub Sta 0m 10m 20m 30m Crown Copyright, ES For identification purposes only. SITUATION The property is situated on Halesfield Industrial Estate, one of three prominent industrial estates within the town. The building is located at the southerly end of Halesfield 14 which is situated to the south of the Estate. Halesfield Industrial Estate is located approximately 5 km (3.1 miles) south of the town centre with nearby tenants including JRI Technologies, MAHLE, Precision Colour Printing, Brintons, Link 51 and Grange Fencing. The estate is accessed directly off Brockton Way (A442) which links to the M54 to the north (Junctions 4 and 5). SITE The property occupies a site of 3.43 acres (1.386 ha). DESCRIPTION The property comprises a 1980s detached 3-bay industrial warehouse of steel portal frame construction. The exterior walls are a combination of brickwork and glazing surmounted by a profile steel sheet covered roof. The unit benefits from three loading doors (one accessing the secure goods yard to the north and two fronting the secure goods yard to the south). There is a single storey flat roofed office unit running along the length of the front of the unit fronting the car park and Halesfield 14. The warehouse benefits from the following specification: 7.82m maximum clear height 3 level loading doors Sodium lighting Gas and electric heating blowers The offices benefit from the following specification: Air conditioning Suspended ceiling Cat 2 Lighting Perimeter trunking Male and Female WCs Dedicated staff canteen The tenant is actively investing in the unit and has spent over 115,000 recently refurbishing the office, labs and reception. They are currently upgrading their IT system and are purchasing new manufacturing technology.

5 CUSTOMPACK LTD, UNIT F, HALESFIELD 14, TELFORD, TF7 4QR ACCOMMODATION We have been provided with the following areas by the vendor and understand them to be as follows: Floor Description Area (sq ft) Area (sq m) Ground Warehouse 84,640 7,863.3 Ground Office 9, Total 93,751 8,709.8 TENURE Freehold TENANCY The property is let to CustomPack Ltd (formerly Chequer Foods Ltd) with Pelican Rouge Coffee Solutions Group Ltd as Guarantor. The term commenced on 17 August 2005 and was regeared in 2012 with expiry on 16 August 2027 providing an unexpired lease term of 9.75 term certain. There is a schedule of condition attached to the lease. The current rent passing is 315, p.a. The lease is subject to upwards only annual RPI linked rent reviews which are uncapped. COVENANT CUSTOMPACK LTD CustomPack, formerly known as Chequer Foods, was established in 1962 and specialises in the production of individual portion products producing a wide range of own brand condiments and in cup beverages. CustomPack is part of the Pelican Rouge Group, one of Europe s largest coffee solutions organisations. The company s home is Telford and it employs over 160 people. CustomPack Ltd reported the following results over the last three years: 31/03/ /03/ /03/2014 Turnover 19,721,000 21,279,000 20,908,000 Pre-Tax 590, , ,000 Profit Total Net Worth 6,733,000 6,172,000 6,069,000 Clients of CustomPack Ltd include Nestle, Ministry of Defence, Brakes, HM Prison Services, Supernoodles, KFC and Kenco. 3.60% 3.50% 3.40% 3.30% 3.20% 3.10% 3.00% 2.90% Q Q Q Q Source: OBR

6 VAT The property will be subject to VAT although we anticipate the sale will be treated as a Transfer of Going Concern. EPC The property has been rated grade C(61). The EPC is available upon request. DATAROOM For Access to the Allsop dataroom please use the following link: PROPOSAL Offers are sought in the region of 4,000,000 (Four Million Pounds) subject to contract and exclusive of VAT. A purchase at this level would reflect a net initial yield of 7.40% after allowing for purchaser s costs of 6.54% and a low capital value of psf overall. Running yield profile based on OBR RPI forecasts (no purchaser s costs): % % % % For further information or to make arrangements for viewing please contact: PRIVATE CLIENT TEAM Jonathan Butcher jonathan.butcher@allsop.co.uk Alex Butler alex.butler@allsop.co.uk PRIVATECLIENT Misrepresentation Act: 1. Allsop LLP on its own behalf and on behalf of the vendor/lessor of this property whose agent Allsop LLP is, gives notice that: (a) these particulars do not constitute in whole or in part an offer or contract for sale or lease; (b) none of the statements contained in these particulars as to the property are to be relied on as statements or representations of fact; and (c) the vendor/lessor does not make or give, and neither Allsop LLP nor any of its members or any person in its employment has any authority to make or give, any representation or warranty whatsoever in relation to the property. The only representations, warranties, undertakings and contractual obligations to be given or undertaken by the vendor/lessor are those contained and expressly referred to in the written contract for sale or agreement for lease between the vendor/lessor and a purchaser or tenant. 2. Prospective purchasers or tenants are strongly advised to: (a) satisfy themselves as to the correctness of each statement contained in these particulars; (b) inspect the property and the neighbouring area; (c) ensure that any items expressed to be included are available and in working order; (d) arrange a full structural (and where appropriate environmental) survey of the property; and (e) carry out all necessary searches and enquiries. Allsop is the trading name of Allsop LLP. Design CommandD