AINSCOUGH CRANE HIRE LTD SECURE INDUSTRIAL INVESTMENT AINSCOUGH CRANE HIRE LTD ASHTON ROAD / BREDBURY / STOCKPORT SK6 2RG

Transcription

1 SECURE INDUSTRIAL INVESTMENT ASHTON ROAD / BREDBURY / STOCKPORT SK RG

2 INVESTMENT SUMMARY Situated on an extremely prominent corner plot of the Bredbury Industrial Estate Bredbury Industrial Estate extends to over 0 acres with over 00 business tenants Excellent main road frontage to the A0 Ashton Road linking to Junction of the 0 In close proximity to Stockport railway station and Manchester International Airport Property comprises of,9 sq ft warehouse on a site of.0 acres (.% site cover) Let to Ainscough Crane Hire Limited (D&B A). years remaining on FRI lease subject to a schedule of condition Current rent of,000 per annum (. psf - applying,000 per acre on site overage of 0. acres) yearly reviews to the lower of OMRV or RPI (Uncapped) Freehold Offers in excess of 0,000 (STC) Attractive Net Initial Yield of.% and a Reversionary Yield of.% (applying RPI) Investment value underpinned by industrial land values Higher value alternative use possible STP

3 KEY UK Point of Sale Optimas Stocktons Smith News Convergys Kerry Fresh Hadfields Satake Europe 9 Allied bakeries 0 Brady Corporation TNT Aggregate Industries Yess Electrical Euro Car Parts Antala Ltd DVLA BT Woodstock Leabank 9 Robinsons 0 RSAAR Stanley Trescal Veridor Solutions SK Renthal Hilti Janome Boxes and Packaging 9 Direct Express Logistics 0 Subway CRANE ASHTON HIRE ROAD LTD 0 0 J

4 Location Bredbury is a suburban town to the north east of Stockport and sits north and east of Junction of the 0 motorway, providing good access to Manchester City Centre ( miles), the regional motorway network and Manchester Airport 0 miles to the south west. Stockport is one of the 0 boroughs forming the Greater Manchester conurbation and is a major administrative and commercial centre, being home to over,000 people. The property is situated on an extremely prominent corner plot of the Bredbury Industrial Estate off the A0 Ashton Road, which is a key industrial area for South Manchester and has access directly off Junction of the 0. The property is within close proximity to Stockport railway station and Manchester International Airport. The immediate location is predominantly industrial in character with the estate over acres and home to over 00 businesses including Allied Bakeries, Hilti Group, Montrose, Robinsons Brewery, Snickers Footwear and TNT. Southport A A Birkenhead River Dee Liverpool Bay A9 M A0 A9 A A0 M M A A0 A0 A0 Liverpool Albert Dock A River Mersey A 9 M 0 A9 Skelmersdale A A Liverpool John Lennon Airport / A0 A00 Ellesmere Port A A0 St Helens Runcorn A / A9 Widnes Wigan A A 9 A Warrington A9 0/A 0 A A9 A0 A0 0 0/9 A A A A Bolton A / A0 9 / 0 A0 A A A Trafford Centre 0 9 A A / A Manchester Airport 9 A Manchester / 9 0 A A A A 0 0 A Stockport A0 A0 A A A0 A0 To Leeds A A A A Ashton Rd Brinnington Station Brinnington 0 Cromwell Rd Bredbury Park Industrial Estate Brinnington Park Lingard Ln Ashton Rd Brinnington Rd A0 Bredbury Bredbury Station A0 0 A0 A0 Stockport Rd W Lower Bredbury

5 Description The property comprises of a recently refurbished single let industrial building of,9 sq ft on a site of.0 acres, which is broadly rectangular and largely concreted throughout. The warehouse is clad in brick to 0.9m and over clad in profile metal, with a double hip roof incorporating translucent rooflights that cover vehicle inspection pits. Additionally, a storey amenity block of later construction sits adjacent to the workshop, incorporating works offices, kitchen and toilet facilities under a pitched profile metal roof. The site is lit, fenced and well secured with entrance via electronically controlled gates with prominent access to the intersection of Cromwell Road and Ashton Road. Accommodation The property has been measured in accordance with the RICS Code of Measuring Practice (th Edition). The property has the following approximate gross internal areas: Workshop 0. sq m,0 sq ft Office Building GF 0.9 sq m sq ft Office Building FF 0.9 sq m sq ft Total.00 sq m,9 sq ft The property occupies a site of approximately 0. hectares (.0 acres) which provides an exceptionally low site cover of approximately.%.

6 Ainscough Crane Hire Limited are a A covenant Tenure Freehold (Title number: GM9) EPC Energy Performance Certificate available upon request. Tenancy The property is let to Ainscough Crane Hire Limited (Company Number: 0) on a reversionary lease expiring th May 0 (. years unexpired). The lease is drawn on FRI terms but is subject to a Schedule of Condition. The current passing rent of,000 per annum is reviewed five-yearly (next review 9th May 0). The increase in rent is limited to the lower of OMRV or the Retail Price Index uncapped. Estimated Retail Value We would analyse the estimated open market rental value to be in the region of,000 per annum (.0 psf with,000 per acre land overage). Southfield is currently letting on 0-year unbroken terms to A occupiers at 0 psf. Environmental Survey An Environmental Survey, prepared by Fairhurst, can be provided on a non-reliance basis. The report concludes the environmental risks varying between Very Low to Moderate/Low. Covenant Status Ainscough Crane Hire Limited (Company Number: 0) were established in 9 and are the largest lifting services company in the UK with 0 depots nationwide. It was a family run business until a management buyout in 00. The company has recently been acquired by Oaktree Capital Management who are American Venture Capitalists with 90 billion invested worldwide. A summary of Ainscough Crane Hire Ltd accounts is set out below. May 0 May 0 Turnover 0,00,000,00,000 Pre Tax Profits,00,000 0,00,000 Shareholder Fund,9,000,0,000 VAT VAT will be payable on the purchase price. It is anticipated that the sale will be dealt with as a transfer of a going concern.

7 Proposal We are seeking offers in excess of 0,000 (Five Hundred and Eighty Thousand Pounds) for our client s freehold interest subject to contract and exclusive of VAT. A purchase at this level reflects the following yield profile after deducting purchase costs..% Net Initial Yield.% Reversionary Yield (Current January 0 RPI ) 0.% Reversionary Yield (May 0) - Applying current ERV Land Value per acre -,000 For further information or to arrange an inspection, please contact: James Kinsler Tel: jk@christopherdee.co.uk Mark Powell Tel: mp@christopherdee.co.uk Christopher Dee LLP 0 Peter Street Manchester M GP MISREP: The accuracy of any description, dimensions, references to condition, necessary permissions for use and occupation and other details contained here in is not guaranteed and is for general guidance only and prospective purchasers or tenants must not rely on them as statements of fact or representations and must satisfy themselves as to their accuracy. Christopher Dee LLP nor any of its employees or representatives has any authority to make or give any representation or warranty or enter into any contract whatever in relation to the property. Rents quoted in these particulars may be subject to VAT in addition. The reference to any mechanical or electrical equipment or other facilities at the property shall not constitute a representation (unless otherwise stated) as to its state or condition or that it is capable or fulfilling its intended function. Prospective tenants/ purchasers should satisfy themselves as to the fitness of such equipment for their requirements. Designed by Ask Design Ltd February 0. 00