Saxon Park INDUSTRIAL ESTATE MULTILET FREEHOLD INDUSTRIAL ESTATE HOLDOM AVENUE MILTON KEYNES MK1 1QU ENTER >> Whitmarsh. Holt.

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1 INDUSTRIAL ESTATE HOLDOM AVENUE MK QU ENTER >> Whitmarsh Holt Young MULTILET FREEHOLD INDUSTRIAL ESTATE

2 STATUS Fully let well specified industrial estate comprising units. Prominently located fronting on to Bletcham Way in a well established industrial area, situated diagonally opposite the Milton Keynes Ikea Store, adjacent to retail warehousing and in close proximity to the MK Dons Football Stadium and the., sq ft GIA in total. Diverse income spread with no single occupier accounting for more than.% of the overall income. AWULT of. years to expiries and. years to breaks. Offers in excess of,,, subject to contract and exclusive of VAT, which reflects a Net Initial Yield of.% after allowing for acquisition costs of.%, a Reversionary Yield of.% and a Capital Value of only per sq ft. Total income of, per annum equating to a low passing rent of. per sq ft overall, providing excellent potential for rental growth through asset management initiatives. Diverse income spread with no single occupier accounting for more than.% of the overall income

STATUS MK SHOPPING PARK M&S, NEXT, RIVER ISLAND, NEW LOOK, H&M MK DONS FOOTBALL STADIUM & DOUBLE TREE BY HILTON HOTEL MK LEISURE PARK ODEON IMAX, PREZZO, CHIMICHANGA, PIZZA EXPRESS, FRANKIE & BENNY

3 STATUS MK SHOPPING PARK M&S, NEXT, RIVER ISLAND, NEW LOOK, H&M MK DONS FOOTBALL STADIUM & DOUBLE TREE BY HILTON HOTEL MK LEISURE PARK ODEON IMAX, PREZZO, CHIMICHANGA, PIZZA EXPRESS, FRANKIE & BENNY S, BELLA ITALIA, TGI FRIDAYS ASDA WICKES HALFORDS IKEA TK MAXX BLETCHAM WAY BOND AVE SENSIENT FLAVORS TESCO DISTRIBUTION WAREHOUSE (FENNY LOCK) BILTON RD SPORTS DIRECT PETS AT HOME HOME BARGAINS ARGOS CITY GLASS AB TURNKEY SOLUTIONS WATLING ST TESCO MATALAN

Saxon Park A A HEATHROW A Swanley Croydon A A A NOTTINGHAM LEICESTER MILTON KEYNES BIRMINGHAM M M FELIXSTOWE M OXFORD LONDON M M M DOVER SOUTHAMPTON FENNY BOW BRICKHILL A A M M Sevenoaks A Milton

BLETCHLEY HLEY HOUSING PROVISION A Andover SUBJECT PROPERTY B Tilbury M A A A A Epsom A a A Sutton M Woking Woolwich Dartford A Kingston upon Thames Staines Richmond (T) A M CITY A Windsor A(M)

LIVERPOOL SHEFFIELD East Grinstead M M Basingstoke A M A Harrow Uxbridge A Maidenhead Slough A A LOCATION A A M A Camberley A Enfield A Watford A Beaconsfield M Barnet A A Devizes A A A A A A A B A

Stortford Garden Ware City Tring Hertford Hemel M St Harlow Hempstead Hatfield Albans M Hoddesdon Berkhamsted A A Luton A(M) Stevenage M A A Oxford A A A A Hitchin Dunstable A Witney Cirencester

4 Saxon Park A A HEATHROW A Swanley Croydon A A A NOTTINGHAM LEICESTER MILTON KEYNES BIRMINGHAM M M FELIXSTOWE M OXFORD LONDON M M M DOVER SOUTHAMPTON FENNY BOW BRICKHILL A A M M Sevenoaks A Milton Keynes is located adjacent to Junctions and on the M motorway. Saxon Park is situated on the west side of Milton Keynes in very close proximity to the. BLETCHLEY HLEY HOUSING PROVISION A Andover SUBJECT PROPERTY B Tilbury M A A A A Epsom A a A Sutton M Woking Woolwich Dartford A Kingston upon Thames Staines Richmond (T) A M CITY A Windsor A(M) Bracknell A A LONDON Bletchley A WOBURN SANDS Brentwood Chigwell M Leatherhead Farnborough HULL M Aldershot LEEDSRedhill Oxted Dorking Reigate Tonbridge Guildford A Farnham M Godalming MANCHESTER LIVERPOOL SHEFFIELD East Grinstead M M Basingstoke A M A Harrow Uxbridge A Maidenhead Slough A A LOCATION A A M A Camberley A Enfield A Watford A Beaconsfield M Barnet A A Devizes A A A A A A A B A Newbury elksham minster M Amersham Reading Chippenham ridge Henleyon-Thames A Swindon M High Wycombe M Marlow A B A Didcot A A ) Abingdon LUTON (T Thame A A Braintree STANSTED Bishop's Welwyn Stortford Garden Ware City Tring Hertford Hemel M St Harlow Hempstead Hatfield Albans M Hoddesdon Berkhamsted A A Luton A(M) Stevenage M A A Oxford A A A A Hitchin Dunstable A Witney Cirencester Saffron Walden B T) ( A Bicester A Royston CENTRAL MILTON KEYNES Letchworth M Cheltenham A CENTRAL Haverhill Leighton Buzzard A A A A M A (T ) Biggleswade MILTON KEYNES A A Bedford Newmarket Cambridge Banbury A A St Neots M A A A M A A A A B Northampton Daventry A Rushden Evesham A St Ives A A A Wellingborough Stratford upon Avon OCCUPATIONAL Mildenhall Huntingdon A A Leamington Spa Ely A M Warwick COVENANT STATUS M A Redditch TENANCIES COVENTRY Kettering ACCOMODATION / ENVIRONMENTAL A A M M A A A IMAGE GALLERY B M M Market Harborough A BIRMINGHAM M BIRMINGHAM DESCRIPTION March A A A M A M ve Maidstone Saxon Park is prominently located fronting onto Bletcham Way which links directly onto the to the east, just to the south of central Milton Keynes in Bletchley. The immediate surrounding area is a mix of industrial and retail uses with retail warehousing immediately behind Saxon Park where occupiers include TK Maxx and Halfords. The Milton Keynes Ikea store is situated diagonally opposite Saxon Park on Bletcham Way and adjacent to Ikea is an Asda Superstore. The MK Dons Football Stadium is also located in close proximity which has undergone substantial new development in recent years, to include the MK Shopping Park, MK Leisure Park and Double Tree Hilton Hotel. Other occupiers in the immediate vicinity include Formula One Autocentres, Safestore Self Storage, Sensient and National Tyres. < >

STATUS BL Cycle Path DESCRIPTION Saxon Park comprises a well configured multilet industrial estate of units arranged in four blocks with associated servicing yard areas and car parking.

5 STATUS BL Cycle Path DESCRIPTION Saxon Park comprises a well configured multilet industrial estate of units arranged in four blocks with associated servicing yard areas and car parking. There are separate parking areas along the estate road which provide plenty of parking provision. The estate was constructed in the s and extends to a site area of approximately. acres equating to a site cover of %. The estate presents well and the units are in a good condition. The units provide the following specification: El Sub Sta Steel portal frames with metal sheet cladding under profiled metal roofs Integral storey offices within each unit Roller Shutter loading doors HOLDOM AVENUE El Sub Sta Eaves heights of approximately.m / ft Suspended hot air blowers Units have been refurbished in conjunction with new leasing activity El Sub Sta Acorn Building m m m m

6 STATUS

STATUS ACCOMMODATION The estate has been measured

Practice and provides a Gross Internal Area of,

ranging from, sq ft, sq ft, which caters for a

7 STATUS ACCOMMODATION The estate has been measured in accordance with the RICS Code of Measuring Practice and provides a Gross Internal Area of, sq ft overall across a variety of unit sizes ranging from, sq ft, sq ft, which caters for a wide variety of occupier requirements. TENURE Freehold Interest.

8 STATUS TENANCIES The estate is fully let to different occupiers on standard Full Repairing & Insuring terms as set out below. There is a service charge in place which covers all common items of expenditure and this is currently running at a budget of, per annum /. per sq ft. The Average Weighted Unexpired Lease Term (AWULT) is. years to expiries and. years to breaks. Unit Tenant GIA Sq Ft Lease Start Lease Expiry Break Option Next Review Rent pa Rent per Sq Ft % of Income Act EPC Rating Schedule of Condition Comments UK Planet Tools Ltd, // // // //,..% No C No New letting in. Rent Deposit of,. Axe & Status Machinery Ltd, // // // //,..% Yes D No Plumbing & Heating Supplies (Milton Keynes) Ltd, // // // //,..% No C No Lease renewal in. Rent Deposit of,. Travis Perkins (Properties) Ltd, // // // //,..% Yes C No Zarges (UK) Ltd, // // n/a n/a,..% Yes D No Guarantor - Zarges GmbH Format Graphics Ltd, // // n/a n/a,..% No D No Sensient Flavors Ltd, // // // //,..% No C Yes New letting in - stepped rent, // - //, pa, // - //, pa. RPI rent review - no cap or collar. Zarges (UK) Ltd, // // n/a n/a,..% Yes D No Guarantor - Zarges GmbH Eurovision Ltd, // // // //,..% No C No Tenant has operated the break clause - tenant must pay, + VAT to complete break option. Rent deposit of,. Mechoshade Systems (UK) Ltd, // // // (Mutual) n/a,..% Yes C Yes Tenant has operated the break clause. Guarantor - JB Industries Inc. Pace Europe Ltd, // // // n/a,..% No D Yes Lease renewal in. Service charge cap -, for the current year and then annual RPI uplifts. Sensient Flavors Ltd, // // // //,..% No D Yes Stepped rent - // - //, pa // - //, pa. RPI rent review - no cap or collar.,,. %

9 STATUS PROPOSAL / COVENANT STATUS Tenant % of Income Year Ending Turnover Pre-Tax Profit UK Planet Tools Ltd ().% Axe & Status Machinery Ltd ().% Plumbing & Heating Supplies (Milton Keynes) Ltd () Travis Perkins (Properties) Ltd ().% Zarges (UK) Ltd ().% Format Graphics Limited ().% Sensient Flavors Limited ().% Eurovision Limited ().% Mechoshade Systems (UK) Ltd ().% Pace Europe Limited ().% Source: Company Accounts // // // //.% No Accounts Available // // // // // // // // // // // // // //,,,,,,,,,,,,,,,,,,,,,,,,,, (,), Total Assets less Current Liabilities,,,,,,,,,,,,,,,,,,, (,) (,) (,,) (,,),, Shareholders Funds,,,,,,,,,,,,,,,, (,) (,) (,,) (,,),,

STATUS PROPOSAL / OCCUPATIONAL Availability levels in Milton Keynes are now the lowest they have been for a generation and the vacancy level is circa %.

10 STATUS PROPOSAL / OCCUPATIONAL Availability levels in Milton Keynes are now the lowest they have been for a generation and the vacancy level is circa %. With limited new development activity coupled with strong occupier demand there is upward pressure on rents as the distinct lack of available stock feeds through to rental growth. New / refurbished schemes are now commanding rents of. -. per sq ft and even higher for very small units at Granby Industrial Estate which is located close by to Saxon Park opposite the Asda supermarket, rents of per sq ft are being achieved on units of,, sq ft. Elsewhere more secondary refurbished stock in Milton Keynes is commanding rents of. -. per sq ft depending on unit size. Incentives are diminishing and months rent free for a year lease term is the market position. There were new lettings on Saxon Park in in Units,, and providing the best rental evidence, but more recent rental evidence suggests rents have moved on further. As a result of the favourable occupational market dynamics Saxon Park offers excellent reversionary potential, and we believe the achievable ERV s across the estate to be as follows: Units Units Units Units. per sq ft. per sq ft. per sq ft. per sq ft

STATUS PROPOSAL / Industrial Estate transactions of note this year which provide a helpful guide on recent investor activity include the following: Property No.

11 STATUS PROPOSAL / Industrial Estate transactions of note this year which provide a helpful guide on recent investor activity include the following: Property No. of Units Size (Sq Ft) AWULT to breaks Price NIY Price per sq ft Date Voyager Park, Portsmouth,. years.m.% psf Jan Manfield Park Industrial Estate, Cranleigh,. years.m.% psf Jan Units - Eldonwall Trading Estate, Bristol,. years.m.% psf Jan Blakelands Industrial Estate, Milton Keynes,. years.m.% psf March Bedford Business Centre, Bedford,. years.m.% psf April Taurus Park, Warrington,. years.m.% psf May Gatwick International Distribution Centre, Crawley,. years m.% psf June Brackmills Industrial Estate, Northampton,. years Circa m Circa.% psf Under Offer

12 INDUSTRIAL ESTATE STATUS PROPOSAL / ENERGY PERFORMANCE CERTIFICATES Energy Performance Certificates are available in the Dataroom. VAT The property is elected for VAT and we understand the disposal will be structured by way of a Transfer of a Going Concern (TOGC). PROPOSAL We have been instructed to seek offers for our client s Freehold interest in excess of,,, subject to contract and exclusive of VAT, which reflects a Net Initial Yield of.% after acquisition costs of.%, a Reversionary Yield of.% and a Capital Value of only per sq ft. For further information or to arrange an inspection please contact: Bruce Spencer Direct Mobile bls@why.com James Young Direct Mobile jy@why.com Whitmarsh Holt Young Cavendish House Cavendish Square London WG PJ Whitmarsh Holt Young Subject to Contract. Exclusive of VAT. July Whitmarsh Holt Young for themselves and for the vendors or lessor of this property for whom they act, give notice that: i) these particulars are a general outline only, for the guidance of prospective purchasers or tenants, and do not constitute the whole or any part of an offer or contract; ii) Whitmarsh Holt Young cannot guarantee the accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained herein and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy; iii) rents quoted in these particulars may be subject to VAT in addition; iv) Whitmarsh Holt Young will not be liable, in negligence or otherwise, for any loss arising from the use of these particulars; and v) the reference to any plant, machinery, equipment, services, fixtures or fittings at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it is capable of fulfilling its intended function. Prospective purchasers/ tenants should satisfy themselves as to the fitness of such items for their requirements; vi) no employee of Whitmarsh Holt Young has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property. Subtract to Contract. Exclusive of VAT. Designed and produced by Creativeworld Tel: <

Cutbush Park Industrial Estate, Lower Earley, Reading RG6 4UT. South East Multi-let Industrial Investment Opportunity

South East Multi-let Industrial Investment Opportunity INVESTMENT SUMMARY Reading is located in Berkshire, some 37 miles west of Central London. Cutbush Park Industrial Estate is a strategically located